Bad credit doesn’t have to determine whether one qualifies to get a car title loan or not. That is because while a poor credit rating possesses a greater risk to the lender, the equity of your car, as well as your ability to pay the loan, mitigates against those risks.
Also, can I get a title loan if the title is not in my name?
A title loan with the title not in my name
It is a possibility the although you are the owner, the vehicle on which you take the title loan is not in your name, so there are few rules following which you can have the loan. … Besides, if the title is shared between two people, both are eligible for the loan in most cases.
Keeping this in consideration, can I pawn my car title without a job?
Answer: Yes, You Can Get a Car Title Loan with No Income
The good news is, yes, you can get a title loan without a job or even proof of income! That’s one of the great things about this option. The only thing they require is your title (proof that you own your car).
Can you get a title loan without credit check?
Most people qualify for a car title loan. Many lenders won’t even require a credit check for approval. That’s because you’re using your car’s title as collateral to secure the loan.
Your car needs to have enough value to serve as proper collateral for the lender. If you are looking to take out a title loan for more than your vehicle’s actual value, there is a chance that your loan provider will deny your application.
No credit check: Most title loans don’t require a credit check. This is good news if you need to borrow cash, have exhausted every other option available and don’t have great credit to qualify for a traditional loan.
TitleMax® does run credit checks on all new applicants, but that may not disqualify you for a personal loan or title-secured loan/pawn. When you need money unexpectedly, it’s a good idea to look for loans that offer flexibility for people with bad credit. Just look to TitleMax for lots of great options.
Unsecured Bad Credit Loans. If your credit score draws red flags, the best chance to get money you need could be through a secured loan. A secured loan is one in which you borrow against an asset you own, such as a home, car, boat, property, savings or even stocks.
Documents You’ll Need
- Original vehicle title showing sole ownership.
- Government-issued identification matching the name on the title.
- Utility bill or other proof of residency matching the name on the title.
- Current vehicle registration.
- Proof of vehicle insurance.
- Recent pay stubs or other proof of ability to repay the loan.