Are you curious about flex loans or wondering what makes them a smart choice when you need quick cash? Also known as line of credit loans, flexible loans offer customizable borrowing and repayment terms. This guide will walk you through the key benefits and share important facts about flex loans in Tennessee.

Whether you’re dealing with an emergency or just need a financial cushion, these 6 flex loan facts will help you decide if it’s the right option for you.

The Advantages Of Flex Loans

1. Bad Credit? You Might Still Qualify

To get a flex loan from your local bank, you need a credit score of 700+ to apply. If you want more money or a lower rate, you’ll need a score closer to 800 to qualify.

For most Americans who don’t meet this requirement, you can depend on Tennessee Title Loans, Inc. for flexible loans. We work with borrowers of all credit histories and don’t require good or even fair credit to apply.

We are open to different credit levels and work with all types of income. While most borrowers earn from employment, many receive income from government benefits, Social Security, pensions, Disability, or other sources.

2. Borrow Only What You Need

When approved, you get access to a line of credit for up to $4,000. But you’re not required to use the entire amount. For example, if your car needs repairs and the estimate is $2,000, you can borrow just that amount.

Later, if more costs come up, you can borrow from the remaining funds. That’s the power of flexible loans, you only borrow what you need, when you need it.

3. Pay Interest Only On What You Use

Most loans charge an interest rate that begins when cash hits your account. With flexible loans from Tennessee Title Loans, Inc., you only pay interest on the money you use.

That means if you have a $4,000 flex loan but only use $100 of it, you’re only charged interest on the $100 before it’s repaid.

4. You Can Reuse The Loan

Flexible loans in Tennessee can “recuperate,” so to speak, during the loan's life. If you have a flex loan from Tennessee Title Loans, Inc. for $1,000, use $200, and then pay for that $200, you have recuperated the total loan amount. You now have the full $1,000 to use again if needed.

5. Already Have A Title Loan? No Problem

Many lenders won’t let you take out multiple loans or lines of credit with them, but Tennessee Title Loans, Inc. is not this way. If you already have a title loan with us, we will gladly accept your application for our line of credit loan.

6. Fast Application – Get Cash Today

Unlike your bank, which could take up to a week to process a personal loan application, Tennessee Title Loans, Inc. flexible loans can be applied for in as little as half an hour.

Our application process involves a phone call and a short in-person meeting to confirm your loan details. Afterward, you could have the cash in your account within a few hours.

What You Need To Apply For A Flex Loan

If you’re ready to apply for your flex loan from Tennessee Title Loans, Inc., you'll need four simple things.

• First, have your Tennessee license or I.D. ready to verify your name, age, and address.
• Next, provide the lien-free title for your vehicle. This title is free and clear of all debts, proving you are the legal and sole owner of the car.
• Third, you should have your car handy for a short inspection.
• Finally, you’ll have to prove your income. This could be through a pay stub, W2s, official government document, or another form that lists your name, income, and income source.

How To Apply For A Flex Loan

1. Once you have your three documents and car ready, please complete the line of credit inquiry form on our homepage.
2. A knowledgeable representative will call you to discuss the loan details and review the required documents.
3. You’ll then head to your nearest Tennessee Title Loans, Inc. location to present your documents and car for inspection.
4. Once approved, you’ll have your money that day or the next workday.

Need Cash? Apply For A Flex Loan Now!

Flexible loans can offer you a lifeline when you need cash fast. Whether you’re covering an unexpected cost or behind on a substantial payment, catch up on your bills today and get up to $4,000 readily available through a flex loan.

 It’s better to have money and not use it than not have any money in case something happens – start your flex loan inquiry today by filling out our online inquiry form. Reach out to us today! We're here to help!

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.