How to Get a Title Loan Without a Job
Sometimes financially tough times can lead us to need money fast. In those situations, going to a traditional lender can often be frustrating, especially if you are currently unemployed. You can waste the time of being denied by traditional lenders due to strict income verification requirements, or get approved for a car title loan without a job today with Loan Cheetah. Traditional lenders such as banks and loan associations always want the following as a minimum:
- Collateral: Most traditional lenders require you to submit proof of collateral, such as a car, boat, land deeds, or other proof of value. They do this so that they can be assured they will be paid if you are unable to pay back the loan.
- Proof of income: Traditional lenders also usually require proof of income before lending you money. This is because they have to have a way of protecting their investment (their loan to you) in the event you cannot pay them at the end of the loan or to make monthly installments. They also require this proof because they want to weigh it against your credit rating to see what your income-to-debt ratio is. This is one of the primary factors involved in deciding whether or not you are someone they want to take a financial risk with.
- Co-signers (sometimes): In the event that your credit rating is not high enough, the bank may ask you for a co-signer who has better credit. This is so they can get the money owed to them from the second party co-signer, in the event you are unable to pay. This places the co-signer in a state of financial responsibility if you cannot pay back the loan.
- Creditworthiness: Your credit rating and your debt-to-income ratio is the primary factor that traditional banks use to determine whether or not they can give you a loan. If you are very young and do not yet have a credit rating, or if your credit rating is bad, this will pretty much negate the deal. They must believe you can pay your bills or they will not loan money to you.
For those who have had trouble with credit in the past or have not had time to build up a good credit rating, this can cause roadblocks when it comes to getting the money you need. In these difficult times, you may have to look for other options. Also, going through traditional channels can take a great deal of time as well. When you need cash fast, you don’t have time to wait. So what can you do in these circumstances when a bank has turned you down?
Another Option to Get a Title Loan Without a Job
Do you own your car and have proof of ownership? One way that you can get money fast, unlike traditional loans, is to secure a title loan. If you have never done this before, rest assured it’s not a difficult process. Title loans are loans you get for the value of your car. You are not required to get a cosigner or have your credit rating run through to see if you have good credit. But can you get a title loan without a job?
The good news is, yes, you can get a title loan without a job or even without 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). Your car serves as its own collateral and, unlike the other more traditional institutions, you can get your title loan in a matter of hours in most cases. Think about starting a loan process that only takes a few hours to complete, as opposed to a bank loan that could take days or even weeks to approve.
Requirements for Obtaining a Car Title Loan with No Job
There are very few requirements for obtaining a car title loan. The main factors they look for are listed below:
- Must be 18 years or older
- Must provide a copy of a valid government-issued ID
- No liens on the vehicle
- Must own vehicle outright
- Must have the original title of the vehicle
- Bank statements as proof of income
Getting a Title Loan Online with No Job
If there is not a credible title loan company in your town or if you prefer to get a title loan online, this is very possible to do if you go to the right source. It can be confusing though, with so many title loan professionals out there who offer various deals. In addition, it costs a fee in many cases that you must pay to third-party partners and this can sometimes get complicated and expensive. Fees vary but can range from $25 to $100 or more for processing.
About Loan Cheetah Title Loans with No Income
As our name implies, our title loan experts get your money fast and the application is totally free. We give you top-rated title loans in half the time of other lenders. They know that you need to get your money as fast as possible so that you can get on with your life, pay your bills, and even have a little fun. Who has time to wait? Loan Cheetah strives for both speed and efficiency, just like the cat that bears our name. So you will be assured that once you apply for a car title loan with our company, you will be off and running soon!
Fast Cash Solution
Emergency funds are crucial when facing financial insecurity, and auto title loans are a fast cash solution when your cash flow is too little to pay pressing bills, such as medical bills, mortgage payments, or other obligations. It is an emergency type loan that covers life’s little unexpected necessities that crop up. You can get a car title loan with no income because, unlike the banks, the title loan company uses your car’s value as its collateral. This ensures the bank they will be paid back either with your payment or your car.
Simple and Easy
The best thing about car title loans is that it is a simple and easy process without the strings attached. Car title loans are short-term loans, not long-term. The interest rate may be higher than normal but the loan is also over faster. So think of a car title loan as a short-term loan that is for fast cash flow emergencies and it is not intended to be a long-term loan that you pay back over time.
Limits of Car Title Loans
As long as you supply the necessary paperwork and credentials, proof of ownership of your car, and identity, you can get a car title loan with no income for the expenses you have that you need money for. If you need a title loan without a title there are things you can do to still get a loan fast.
Loan Cheetah allows you to register for a car title loan at no charge to you. We are experts when it comes to auto title loans and we can answer any questions you have about the process. If you’re ready to start now, scroll down to the bottom of the page to get started right away. You can get a free car title loan estimate online. Remember, managing your monthly payments is crucial to avoid defaults and potential repossession of your vehicle.
How Long Does it Take?
Some people worry that the process of securing an auto title loan is too lengthy. But title lenders typically request specific documents during loan applications to evaluate an applicant’s repayment ability, and the process usually only takes an hour or so in most cases. Some lenders may limit your loan to a minimum of $1000, but some are awarded in excess of $35,000, depending on the circumstances at the time you apply.
Peace of Mind
Peace of mind is important when it comes to financial matters. Loan Cheetah realizes this and we work hard to ensure that all of your personal and financial affairs in the transaction will be taken care of with utmost skill and care.
Contact Loan Cheetah Today and Get Fast Cash Solutions
If you need money fast and you own your car, contact Loan Cheetah today to discover how quickly you can get the financial assistance you need. Our streamlined application process ensures that getting an auto title loan is simple and stress-free. Fill out our online form now for a free estimate, and see why we’re known for our speed and efficiency. With Loan Cheetah, your financial relief is just a step away!
