If you have an immediate cash need and you have bad credit, you may find it difficult to get a loan based solely on your signature. If you can't get approved for a short term loan based on your credit, you may want to consider a car title loan.
When a loan applicant applies for a loan and can't get approved solely on their credit, a lender may still approve the loan if the applicant is willing to pledge collateral. With a car title loan, you pledge your car as collateral for loan repayment. You will need to prove ownership of your car to the auto title lender, or that you have substantial equity built up in the vehicle.
Once the lender determines the worth of your car, they will tell you how much you can qualify to borrow. Since a car title loan is expected to be repaid within several weeks, they should only be considered for short-term cash needs.