How No Bank Account Loans Make It Easier To Get Money Fast
It's hard to do anything without a bank account these days, much less get no bank account loans. Yet, as many as 6 percent of Americans don't have any bank account, and 13 percent are "underbanked," according to the latest available figures.
Being underbanked refers to people who need help accessing traditional financial services offered by banks or other institutions. That means they can't get things like credit cards or loans. This can make for some serious problems in carrying on with daily life, especially if something breaks down or a family member must go to the hospital.
However, there are ways to access finances outside the traditional system. Keep reading to discover how you can get no bank account loans.
Ways To Meet Immediate Needs Without A Bank Account
Legal methods have always existed to get money quickly, needed items, or other services, but many only think about them if they need help. Here are a few options you can take:
- Rental Centers-Those who need money for a broken appliance, like a refrigerator, could use a rental center to meet their need until they can afford a new one.
- Hospitals-Emergency rooms and hospitals are supposed to post a sign stating what free services they have available and how to apply for financial assistance.
- Loan Lenders-Some distinct legal entities for quick money are payday loan centers, small independent loan operations, and pawn shops. Most of these entities will offer small loans under $500 with products like payday repayment plans, signature loans, and installment loans. Funds are deposited for the loan and automatically withdrawn according to your agreement.
A few of these methods require a checking account, while others don't. Typically, things like a payday, signature, or installment loan need you to have an active checking account in your name.
Getting A Larger Loan
A situation could arise where you need more than a couple hundred dollars. It could be new tires on a car because the tread has worn through or a leaky roof that the homeowner's insurance won't cover. Even so, there are ways to get no bank account loans to cover these expenses.
Getting No Bank Account Loans In Tennessee
Those who need no bank account loans in Tennessee should consider vehicle title loans. Title loans work like other collateral-based loans in that your car title serves as collateral for money loans to you.
Unlike other collateral loans, you can keep your car while you repay the loan. Most collateral loans, including pawn shops and some bank loans, require the lender to keep the collateral until the loan is repaid.
Each vendor offering vehicle title loans is slightly different, so you need to know their eligibility requirements, process, the time it takes to get the money, and repayments. Some title loan vendors still require a bank account to deposit cash and for you to make payments through an app.
However, vehicle title loans are a quick and easy option to get fast emergency cash. It is one of the most convenient and valuable no bank account loans available, allowing you to:
- Utilize the value of something you have.
- Take out a larger loan amount.
- Secure a loan without damaging your credit score.
Vehicle Title Loans With Tennessee Title Loans, Inc.
Tennessee Title Loans, Inc. offers no bank account loans using vehicle title loans. It requires three primary things to get these types of loans:
- A picture identification, like a driver's license or a state-issued ID
- A clean title to the vehicle
- The vehicle for inspection
Our vehicle title loan process is straightforward and can take as little as 30 minutes to complete. Here’s how it works:
- Complete the simple online inquiry form.
- Our loan representative will give you more information about the process and answer your questions.
- You will then set an appointment to meet with the loan representative at one of our nearest Tennessee Title Loans, Inc. locations. Alternatively, you can complete the vehicle title loan process online without visiting the store.
- Our loan representative will review your documents, check the vehicle's VIN, and quickly inspect it to determine how much of a loan you can take out.
- Once approved, you can get the cash on the following business day.
It's one option to get fast money without needing a bank account, many credit references, or someone digging into your credit score. It's an option for those who are underbanked or have no bank.
Fill Out Our Online Form Today!
You may not have a bank account, but you can access no bank account loans. Find out how much you can borrow for your emergency by completing the online form and letting Tennessee Title Loans, Inc. work with you. It is one answer to resolve some of your immediate problems, which could help you work on longer-range goals.
Our form is quick and easy. It doesn't obligate you to take out a loan, so consider filling it out now! 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.