man asking about unsecured loans

Do You Offer Unsecured Loans?

Unsecured loans can be beneficial if you don’t have collateral to put up for a car title loan. Even if you don’t have good credit, you may be able to take out an unsecured loan through Mississippi Title Loans, Inc. Here are the unsecured loans we offer.

In addition to offering title loans, we also offer installment loans and payday loans which don’t require any kind of collateral.

And there you have it! Loan options are available for everyone, regardless of what your financial situation is. Of course, each loan type has its own use-case scenarios and requirements that must be met. In this article, we’ll explore the different loans we offer, how they differ from one another, and how you can apply today.

Why Choose An Unsecured Loan?

If you’re wondering whether an unsecured loan is right for you, it’s important to ask yourself two key questions:

  • Do I own my car outright? – You must own your car outright if you want to take out a title loan; that’s not just our requirement. Lenders around the country operate by the same principle. If you’re still making payments on your car or otherwise have a lien against it (from a tow truck company, business, or even the IRS), you cannot take out one of our title loans. A title loan is a secured loan because of the collateral. If you do not own your car outright than an unsecured loan may be the better option for you.
  • How much do I need? – Even if you own your car outright, you might not need a big loan, in which case, an unsecured loan (installment loan/payday loan) may be a better choice.

Ultimately, it’s up to you to assess your financial situation and see which loan fits the bill, but you can always feel free to call us to speak with an expert representative, who can offer more clarity on which loan might be best based on your specific circumstances.

unsecured loans graphic

Our Loan Offerings

To help you discern which loan type is best, here’s a quick breakdown of what we offer:

  • Title Loans, up to $2,500 – Title loans are secured loans, often used for larger expenses, like medical bills, and are ideal for customers who don’t have great credit but own their car outright and can use it as collateral.
  • Payday Loans, up to $400 – Customers who need a quick influx of cash to cover smaller expenses like rent or utilities may benefit from a payday loan, which doesn’t require credit checks and is pre-guaranteed by your next paycheck.
  • Signature Installment Loans, up to $1,250 – Based largely on credit, signature installment loans offer a lump sum of money that’s repaid in intervals called installments. Perfect credit isn’t required, but credit is a key factor to determine approval and borrow amount.

Title loans are usually paid off over several years, while installment loans usually last for a year or two. Payday loans are very short-term and need to be repaid within a month, or when your next paycheck rolls in.

woman with unsecured loan

What Do I Need For Unsecured Loans?

To take out unsecured loans, you will need to provide your identification and additional documentation, and the process differs slightly depending on the loan. For payday loans, you will need:

  • Your driver’s license or state-issued ID
  • Your most recent pay stub
  • A blank check from your active checking account

For an installment loan, you will need:

  • Your driver’s license or state-issued ID
  • Proof income via your most recent pay stub
  • A checking account statement in your name

The Approval Process

Depending on the unsecured loans you’re applying for, the process will look a little different. If you are taking out a payday loan, here are the steps you will need to follow:

  1. Fill out the online form.
  2. Wait for a representative to call you back.
  3. Bring your ID, pay stub, and black check to the store location.
  4. Once verified, complete the paperwork in the approval process.
  5. If approved, receive your money.

For a signature installment loan, you will need to follow these steps:

  1. Fill out the online form.
  2. Wait for a representative to call you.
  3. Bring your ID, proof of income, and checking account statement to the store location.
  4. Complete the approval process.
  5. If approved, receive your cash.

If you have any questions about which loan is right for you or how the application process works, feel free to contact us during regular business hours or use the live chat feature.

Find Your Perfect Unsecured Loan Today!

Mississippi Title Loans, Inc. offers unsecured loans for any circumstance. Whether you need a quick short-term influx of cash via a payday loan or a longer-term, credit-based loan through an installment loan, hopefully we’ve given you some guidance on which one is best for you. If you’re ready to apply for any of our loans, you can do so right from the top of this webpage to start securing your short-term financial future!

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

June Mckaig

June Mckaig writes articles on finance and budgeting, hoping to provide insight amidst the overwhelming crowds of information on the internet. She feels that with all this accessibility comes a lot of false data, and she would like to contribute astute, helpful input that she knows can help others. If you would like to learn more about June's research, read more here.