Customer Service FAQ

What is a personal loan?

A personal loan is an unsecured loan, which means that it does not require collateral like your vehicle title or other assets to secure the loan.

Does the pre-qualification process affect my FICO score?

The pre-qualification process for financing does NOT affect your credit score. Getting pre-qualified initiates a soft pull on your credit, which can analyze your credit history without showing as an inquiry.

A similar instance where this happens is when you receive a credit card offer in the mail. The creditor runs a soft pull on your credit to see if you qualify for their credit card, and if you do, they send you mailers.

Does this mean I am approved?

Getting pre-qualified for financing is the step prior to getting approved. The pre-qualification process is simple and quick. All you need to do is provide some basic information about yourself. With this information, the lender can give you a good idea of what your payment options will be, all without affecting your credit score.

Getting approved may involve providing additional documentation to allow the lender to make a full determination of your creditworthiness. LoanCenter will obtain your credit report, causing an inquiry to be recorded, which may slightly lower your credit score. 

What can I use a personal loan for?

You can use your personal loan for anything (so long as it’s legal). Some examples of what you can use your personal loan for include, but are not limited to:

  • Credit card consolidation
  • Debt consolidation
  • Home improvements
  • Medical procedures/emergencies
  • Travel or wedding

What is a repayment term?

A repayment term is the amount of time, usually counted in months, you will make monthly payments until the loan is repaid in full. Your repayment term, or loan term, can vary depending on many different factors.

The term you choose can affect how much you pay for your loan. For example, if you choose a longer-term length, you may be able to make smaller monthly payments, but pay more overall due to interest. Choosing a shorter-term length can allow you to pay less overall, but you may have higher monthly payments in the meantime.

How do I get the voucher?

After you pre-qualify for financing on our website, visit any vehicle page that you pre-qualify for and press “Save this offer”.

What credit score do I need?

There is no one credit score that we require but having a higher credit score can certainly help increase your chances for approval.

If you’re looking to build your credit, you may want to consider a title loan.

Can I get a personal loan with less than perfect credit?

You may still be eligible for a personal loan with less than perfect credit. We take into account multiple factors, including your payment history. You can get pre-qualified with no effect on your credit score to see what you may be eligible for!

Does it cost anything to refinance?

No hidden costs and no application fees. LoanCenter does not charge a fee for our services. Your loan will only include the loan amount, any fees associated with the title transfer, and any fee your state charges.

What are the restrictions on refinancing?

You must refinance the full payoff amount of your existing auto loan subject to our minimum loan amount of $2,510 and our maximum loan amount of $50,000, depending on the state. We do not offer cash-back refinancing or lease buyouts.

Are pre-qualified financing and payment options guaranteed?

Financing and payment options from pre-qualification results are not guaranteed as they are rough estimates given based on the limited information provided during pre-qualification.

How do I apply for a personal loan?

Applying for a personal loan with LoanCenter couldn’t be easier. Our online application is quick, easy, and doesn’t impact your credit score.

Ready to get started? Get pre-qualified to begin!

What does it cost to refinance?

Your loan will only include the loan amount, any fees associated with the title transfer, and any fee your state charges, such as a lender fee.

What happens after my auto refinance loan has been approved?

You will receive a Welcome Package in 10-15 days from the closing of your loan.

What are the benefits of personal loans?

There are many benefits to getting a personal loan! One of the benefits is that there is no asset (such as a house) securing the loan, meaning that the application process may be simpler than for a secured loan. Other benefits include the ability to use your personal loan to consolidate debt, potentially allowing you to get a lower interest rate than you have been paying.

Will applying affect my credit score?

Explore your refinancing options without affecting your credit score. We use a “soft pull” to obtain your credit file, which does not impact your credit score. Only once you accept your LoanCenter offer and agree to finalize your application will we run a “hard pull”, which will affect your credit.

Can personal loans help me build credit?

There are many factors that go into your credit score. A personal loan can help you build your credit in more than one way. One thing you’ll need to do is make all of your payments on time. One factor that goes into your credit score is your payment history. If you show that you can pay your loan on time and avoid missing payments, you may be able to improve your credit score

How do I contact the dealership?

You can find dealership contact information on vehicle detail pages. We suggest that you pre-qualify on our website first before contacting a dealership so that you know your financing options before speaking to the dealer.

How can I get a copy of my recent statement?

Please call the Customer Service number and speak with a Customer Service representative (800) 589-0290 or log into My Account.

How can I make a payment for my loan?

You can use any one of these convenient payment options*:

AUTOMATIC E-PAYMENT: Automatic E-Payment Withdrawal is a free service offered by Wilshire Consumer Credit (“WCC”) where your regular monthly payment is electronically transferred from your checking account and credited to your WCC account. No more writing checks, buying stamps, or worrying about mail delays!

ONLINE: Go to MyAccount.WilshireConsumer.com to setup an online account.

PHONE: You may pay over the phone with a live representative using your Checking/Savings account, Debit, or ATM card. If you’d like to make a payment, please call (800) 589-0290.

MONEYGRAM:Company: WCC (Wilshire Consumer Credit)City: Los Angeles,Code = 3625

MAIL: Personal Checks and Money Orders can be sent to the address below. Please make sure to include your Name and Account numbe

Regular MailWilshire Consumer CreditPO BOX 849083Los Angeles, CA 90084

Overnight Mail

Wilshire Consumer CreditATTN: LBX #790833440 Flair Dr.El Monte, CA 91731

 *  Please note that a third party processing fee may apply depending on the type of payment you are making, and that a processing fee may not be assessed in some states.  For more information on payment options and the processing fees that may apply, please visit the “Payment Options” link at Myaccount.wilshireconsumer.com.

How do I change my billing address or phone number information?

Please call the Customer Service number and speak with a Customer Service representative (800) 589-0290 or log into My Account.

How do I check the status of my auto loan application?

You can call one of our friendly loan officers and they will provide an update on the status of your application.

How do I get a pay-off amount for my loan?

Please call the Customer Service number and speak with a Customer Service representative (800) 589-0290 or log into My Account.

How do I know if my last payment has been received?

Please call the Customer Service number and speak with a Customer Service representative (800) 589-0290 or log into My Account.

How soon after applying will I know if I my refinance application was approved?

You will receive a pre-qualification within seconds. Once approved, you’ll then be able to instantly review your loan choices and can move forward with finalizing your new LoanCenter loan.

Loan Requirements

Can I make extra payments?

Yes, extra payments will help reduce the amount of interest you pay. The faster you pay, the lower your interest charges.

What can I do with the money I borrow?

Anything you want. There are no restrictions on how you use your money. We always suggest that you use the money you borrow responsibly because you are obligated to pay it back.

What is a car title loan?

A car title loan is a personal loan that is secured by the borrower’s vehicle. The loan amount is based upon the vehicle’s value and the borrower’s ability to repay, making your credit score a less important factor. The borrower gets to keep driving the car while the loan is outstanding.

Do I need to be currently employed?

No, but we do need to know that you have the ability to make payments. This means you need some sort of income that you can prove. We do allow co-signers on the loan if necessary.

Can you help if I already have a title loan with another company?

Yes. We offer some of the most competitive rates and flexible payment terms in the industry. We can often pay off your existing car title loan to lower your monthly payment and save you money.

What do I need in order to get approved for a car title loan?

The amount you are approved for will depend on several factors, including:

  • Your Car’s Value
  • State Laws
  • Your Income
  • Type of Vehicle

Does my car need to be paid off?

No. Many people who have a few payments left on their car loan still qualify. Best of all, we offer some of the most competitive rates and flexible payment terms in the industry. We can often payoff your existing car title loan to lower your monthly payment and save you money.

What do I do after I submit my information for pre-qualification?

After you become pre-qualified, we suggest you browse through our vehicle listing pages to find the perfect vehicle that fits your financing needs. Each vehicle listed on the site will show whether you are pre-qualified and if so, will show your calculated interest rate and monthly payment. Once you find a vehicle, you can further customize your down payment and term length options to see the effect on your monthly payment.

Once you are satisfied with your financing, you can print out a voucher by pressing “Save this offer” or continue with the buying process.

How much does my car have to be worth?

In general, the car needs to be worth more than the amount of money you borrow. It takes only a few minutes to find out how much you can borrow, and there is no charge and no obligation to find out.

What do I do after I choose my vehicle?

After you find a vehicle that fits your financing needs, we suggest you do the following:

Print the voucher by pressing “Save this offer” and take it with you to the dealership. This will allow the dealer to find your deal and, as long as your information hasn’t significantly changed from what you entered, then your approval can match your pre-qualification. From there, you can work on the remaining paperwork and bring your car home!

Can I get a car title loan if someone else’s name is on the title with mine?

Yes. We can offer a loan if more than one name is on the vehicle’s title.

How can a car title loan help my credit? Do you report to the credit bureaus?

We report to the major credit reporting agencies. A good payment history with us may help raise your credit score and make it easier for you to borrow money in the future.

What do I do after I choose my vehicle?

After you find a vehicle that fits your financing needs, we suggest you do the following:

Print the voucher by pressing “Save this offer” and take it with you to the dealership. This will allow the dealer to find your deal and, as long as your information hasn’t significantly changed from what you entered, then your approval can match your pre-qualification. From there, you can work on the remaining paperwork and bring your car home!

Are you a licensed lender?

Yes. We are fully licensed or registered and in good standing in every state in which we lend.

Can I get a car title loan if I cannot find the title to my car?

Yes. We may offer a loan if you have lost or misplaced the vehicle’s title.

Who backs Wilshire Consumer Credit?

Wilshire Consumer Credit is financially backed by Westlake Financial Services, a leader in indirect automotive finance. Westlake has over 25 years of experience and operates nationwide. To learn more about Westlake Financial, go to www.WestlakeFinancial.com.

Can I get pre-qualified for an auto loan with bad credit?

Absolutely! Here are LoanCenter, we help pre-qualify people for financing across all credit situations.

Do I get to drive my car while the loan is outstanding?

Absolutely! One of the benefits of a car title loan is that you can keep driving your car while the loan is outstanding.

What happens to my car?

You get to keep possession of your vehicle during the term of your loan as long as you make timely payments, so there’s no problem going about your everyday activities.

How long have you been in business?

We have been in business since 2001 and have helped tens of thousands ofcustomers get cash when they needed it most. We have offered some of the most competitive rates and flexible payment terms in the industry for nearly 20 years.

What is the cost of my credit going to be?

Our interest rates vary depending on the state of residency of the borrower, creditworthiness, collateral, and the terms agreed to. Our annual interest rates vary between 35.50% and 199.99%. For a typical loan of $4,000 with an 80% APR and a 24-month term, the payment is $338.61 and the total scheduled interest is $4,126.87. The interest on the loan may vary depending upon the timing of the payments made.

 

For Utah residents only please click here to see our Utah Fee Schedule.

For Missouri residents only please click here to see our Missouri Fee Schedule .

I’m not comfortable providing my social security number online. What should I do?

Since our application is secure (www.thawte.com), you should not be concerned about any information you enter on your application. However, we understand that some people may be uncomfortable providing sensitive information on the web. If you do not wish to provide this information online, simply call us at (800) 227-8485 to submit an application over the phone.

What is the cost of my credit going to be?

Our interest rates vary depending on the state of residency of the borrower, creditworthiness, collateral, and the terms agreed to. Our annual interest rates vary between 35.50% and 199.99%. For a typical loan of $4,000 with an 80% APR and a 24 month term, the payment is $338.61 and the total scheduled interest is $4,126.87. The interest on the loan may vary depending upon the timing of the payments made.

www-int0.loancenter.com/utah-disclosures-and-fee-schedule/

Who backs Wilshire Consumer Credit?

Wilshire Consumer Credit is financially backed by Westlake Financial Services, a leader in indirect automotive finance. Westlake has over 25 years of experience and operates nationwide. To learn more about Westlake Financial, go to www.WestlakeFinancial.com.

Is there a penalty to pay my loan early?

No. There is no penalty to pay your loan early. In fact, paying your loan in full early will reduce the interest charged on your loan.

Is it possible to have a co-signer on my car title loan?

Yes. You can have a co-signer on your car title loan. The co-signer will need to sign a credit application and provide identification, proof of residence, and proof of income. We keep all non-public personal data private and will not let the borrower see the co-signer’s data and vice versa.