We are currently not providing car title loan services in this state. The information brought here is meant to explain in general terms what auto title loans are. You can still submit a loan request for installment loans with us.
Title Loans in Alaska
Life is full of good days and bad days. While good days are bliss, bad days come with undue stress. And during those hard times, having a light pocket can add to the problems.
People who get stuck in financial hardships often try to borrow money to make up for the sudden cash crunch. While getting money from banks and other financial institutes can be really exhausting, car title loans can come as a boon for the financially distressed.
Short-term loan options such as payday loans and car title loans allow people with bad credit scores to apply and get funded in as little as 24 hours.2
Auto Title Loans In Alaska
Auto title loans are a type of fast and easy bad credit loans where the residents can use their car title to apply and get approved for some instant cash.
Often these loans are advisable for people who don’t want any restrictions on where the loan proceeds can be used. Intended primarily to help people cover their unexpected personal and household expenses such as medical expenses, monthly bills, etc.
An auto title loan generally lasts for a couple of months but can be extended further depending on the customer’s demand and eligibility.1The consumers can pay back the whole loan amount in one go or can break it down and take off the debt in small monthly payments.
Auto title loans are also referred to by many other names including:
- Car Title Loan
- Pink Slip Loan
- Title Pawn
- Vehicle Equity Loan
- Auto Equity Loan
- Auto Collateral Loans
What Do I Need To Apply For an Alaska Title Loan Online?
Along with having your vehicle’s title, certain other documents can help you get a car title loan easily and quickly.1So before you look for a lender and apply online, make sure you have the following documents.
Necessary Documents For Auto Title Loans
A Lien-free Title Of Your Car
Car title loans are bad credit loans based on collateral where the lenders place a lien on the customer’s vehicle title to secure the loan and provide them with some quick cash. Thus, to apply for an auto equity loan, you need to have a vehicle with a lien-free title.1
Proof Of Income
Lending companies need to know that you’ll be able to repay the title loan amount on time and having a reliable source of income works as a strong indicator that can help you get bigger loan amounts.1
Generally, bank statements, pay stubs, tax returns, or award letters can be used as proof of a trustworthy income source.
Proof Of Address
To be eligible for Alaska title loans, you must also submit a documented proof of residence in the state. Many loan agents do accept utility bill receipts, mortgage agreements, and property tax slips as valid address proof.
Latest Pictures Of Your Vehicle
Customers can use our online website to skip the in-person inspection and fasten the loan approval process by taking photographs of their car from multiple angles (with VID number and odometer reading) and sending them to the loan team.
Can I Apply If I Have Bad Credit?
Yes, it’s possible.1
To qualify for car title loans in Alaska, loan companies need you to have a lien-free title of your car and show a reliable income source to prove you are able to afford the loan.
Even though a good credit score does indicate a strong financial background and aids you to get funded in many loan options, title loan companies like 5 Star Car Title Loans do offer title loans to people with bad credit scores.
In Alaska, title loans rates and eligibility are decided based on multiple factors. While a regular credit check can be there, credit scores are not our final deciding criteria.
People who have a good amount of equity in their car and showcase a strong ability to repay the amount may be able to get bad credit title loans at a short notice.
Can I Get a Title Loan if I’m Unemployed?
5 Star Car Title Loans understands that having a full-time job is not the only way to earn your income these days. There are a lot of alternate sources where people can make money without clocking in their hours and we accept several documents that can help these people to showcase their repaying ability.
Here are some examples:
Individuals who got harmed during their job and are currently managing their expenses using worker’s compensation can present documents for the same and apply for auto title loans.
Pension From The Government
Old-aged and retired people whose main source of income is from the government’s pension can show their bank statements, SSI, and award letters to apply for a quick cash loan.
Enough Savings in The Bank Account
Savers who keep the money for the rainy days and want some extra cash for a big purchase can show their bank statements and may qualify for a title loan in Alaska.
People who earn their pay from other sources such as rentals, dividends, etc. can get a car title loan online by showing their assets along with bank statements and enjoy the benefit of same-day personal loans.
How To Repay Online Title Loans in Alaska?
The complete loan application process of 5 Star Car Title Loans has been carefully developed keeping in mind the convenience of the applicants that facilitates them in easily paying back the loan without facing any hassles.
Unlike a payday loan, people can opt to repay their Alaska car title loans in two ways:
- Single Payment Option: You can opt to repay the loan debt in a single balloon payment at the end of your repayment period without any hassles.
- Installment Options: You can also opt for a payment schedule where you make small monthly payments and pay back your auto title loan without facing any financial stress.4
Modes Of Loan Repayment
You can choose any of the below payment options to repay the amount readily.
- Debit/credit card
- Online payment
- Mailed Check
Who Keeps My Car While I’m Paying Back The Title Loan?
Getting a title loan with 5 Star Car Title Loans comes with a lot of perks, one of which is that you don’t have to submit your car for borrowing the money.
When you apply for a title loan, the lender asks for a car title on which he places a lien and acquires temporary ownership to secure the loan.
Till the time, you are paying timely installments, you don’t have to worry about anything and can freely drive your car anywhere you want and like.4
After all the principal amount and interest is paid back, the lien will be removed and you will get back full ownership of your car.1
Benefits of Choosing 5-Star Car Title Loans
Choosing 5 Star Car Title Loans to financial aid can help you easily take the stress off your shoulders without worrying about long forms and credit scores. Here are some benefits you will enjoy with us:
- Fast Cash
- Transparent Loan Process
- No Vehicle Requisition For Title Loans1
- Flexible Repayment4
- Loan Options For Bad Credit 1
Get Quick Cash And Take Care Of All Your Bills!
If you have a light pocket and some hefty bills that need to be taken care of, then you need to contact a lending company such as 5 Star Car Title Loans where your credit score is not a big hurdle and you can get approved for a fast cash loan within a short notice.
Just give us a call at (888) 309 0994 and take the benefit of our easy loans.