What Are Online Flex Loans And Can I Get One With Bad Credit?
Flex loans are a convenient option to help face life's unexpected expenses. Many people in Tennessee are learning about this short-term financing for emergency funding.
Even those with bad credit can apply for a flex loan because a flex loan is a secured loan using your car title as collateral. It is similar to a title loan but offers more options for when and how much money you use.
Whether or not someone with bad credit can get approved for a flex loan varies from private lender to private lender. However, most private lenders don't require a credit report for a flex loan because it is technically classified as a title loan.
A credit report is optional since it's a secured loan. Also, the private lender wouldn't report your application or loan to the three major credit bureaus. Keep reading to discover how to get an online flex loan with bad credit.
How Can I Get An Online Flex Loan With Bad Credit?
What Is A Flex Loan?
A flex loan is a loan you take out using the value of your vehicle. You secure the loan with your lien-free title and can keep your car while you repay. The difference between flex and title loans is how you draw and use the money. With a traditional title loan, you are approved for an amount and are given the total amount at once.
You will need to pay that total amount back with interest. Under a flex loan, you are approved for an amount, but it operates as a line of credit. You only pay interest on what you use and can draw out more money at any time up to the maximum. You can use the funds again as you repay the loan.
Private lenders that offer online flex loan inquiries and applications make it easier for you to find out more about this option from the comfort of your home. Tennessee Title Loans, Inc. offers online flex loans and an easy process to make this alternative lending option work for you.
Online Flex Loans In Tennessee
Tennessee Title Loans, Inc. offers flex loans, also called lines of credit, up to $4,000. Our requirements are simple and easy to gather. Here's what you'll need:
- A driver's license or state-issued photo identification
- A lien-free or clean title to the vehicle
- The vehicle available for inspection
- Proof of income
Tennessee Title Loans, Inc. welcomes borrowers from all credit backgrounds and accepts individuals with bad credit to apply for flex loans.
This convenient option allows you to access up to a maximum of $4,000 whenever you need it, and the money will become available again after you repay it as long as you pay on time.
Why Get An Online Flex Loan?
Online flex loans could be the easy option to solve cash flow issues or to cover you when you may not get paychecks on time or get them in varying amounts. It could be an option for shift workers whose schedules vary or those who are independent contractors or are self-employed. This type of lending may also be helpful if you know some expenses are coming up, but you need to be sure of the cost.
It could be doctor's visits for kids going back to school, money for essential repairs, getting some car maintenance you know should be done, or any other necessary thing. Since you can draw money out anytime, a flex loan can help when you need to know how much you will need.
Starting With Online Flex Loans
Getting started with online flex loans is quick and can take as little as 30 minutes. Here's how our process works:
- You begin by filling out the online inquiry form on the website.
- Once we receive your request, our friendly loan representative from the nearest Tennessee Title Loans, Inc. store will call you.
- They will explain the process, ask you about your required documents, and answer any questions.
- Bring the items you need, including your vehicle, to the nearest store near you.
- Our loan representative will validate your documents and inspect your vehicle. That will determine the maximum amount for your flex loan.
- After that, it's just some final paperwork, and those approved will receive the money they request either the same day or the following business day.
Get Your Online Flex Loan Today!
The best way to learn more about online flex loans is to fill out the online inquiry form on the website. It will put you in touch with a loan representative who can answer your questions. Those with bad credit can discuss their concerns before applying at the store.
Getting a line of credit with Tennessee Title Loans, Inc. may help those with emergency funding now and later. It could offer some security when your world is a bit uncertain. To get started, fill out the online form today!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.