What Type of Documents Do I Need To Get a Title Loan?
What do you need for a title loan? Find Out here!
Because of financial issues, you want to apply for a title loan but are not sure where to begin. Which documents do I need to get a title loan at the earliest?
Similar to any sort of funding, choosing a title loan from Money Title Loans has a few requirements that borrowers must meet before getting approval for a title loan.
Submitting documents during the loan approval process can be an easy way to get approval, as it will help to decide if the collateral and finances are eligible for auto title loans.
Losing your car might be a worry but there is no reason to have to go to get a payday loan. Our loans give you up to 30 days to payback the amount borrowed.
Stop worrying about what you need to get a title loan instead continue to read and find what it is.
What is the working process of title loans?
In clear words, a title loan is a great way to get instant cash without waiting for days or going through a hectic process. Being a single or multiple installment loans, the title will work as collateral for securing the loan.
Basically using your car as collateral offers borrowers the chance to apply for a loan with flexible loan approval terms.
Additionally secure the loan with collateral offer numerous benefits which are mentioned below:
- Higher Approval, Even with Bad Credit: If you are less than confident with your credit history, the loan with collateral is the right alternative. With Money Title Loans, bad credit may not stop you from getting the funds needed. The collateral is utilized to secure the loan; the credit does not play a key role in approval. Besides, credit is not the most crucial factor in the approval process. Lenders will look at the ability to repay the taken loan and collateral value.
- Faster Funding: The outcome of using collateral, the approval process can be much faster than a traditional loan. Borrowers that choose Money Title Loans for funding can get the approved funds within the same day of applying.
Basically choosing a title loan is a great financial option when you have to clear pending expenses. This type of loan allows clients to use the title as collateral to secure the funds given.
One can get additional funds that will reduce the stress level and give you peace of mind.
Recommended reading: Tips To Make Extra Money Apart To Address Financial Worries
How can this loan help?
- Outstanding Debt
- Home Repairs
- Late School Fees
- Car Insurance
- Down payment for a new car
- Refinancing current loan
Loans are a valuable source of instant financial assistance when you have to clear pending expenses. Whether you want instant cash to pay for a recent emergency or medical surgery.
Choosing fast loans online is the best option to rely on for avoiding late fees and higher charges.
What documents are required to get a title loan?
You must provide the lien-free title that will work as collateral to get a title loan. One will ask to offer financial documents to prove the income. If you are not working, you can qualify for the loan in such conditions as well.
Documents Needed to Receive a Title Loan
Lien-Free Title
The lien-free title is used as collateral for this type of loan so you will request to offer the documents in your name. If the title is not in your name, you must have the title transferred at the local DMV to get a cash loan.
Our customer service representative will assist in completing the whole process.
Latest Vehicle Images
At the time you apply for this loan online, you can ignore the in-person vehicle inspection. Besides, you have to submit the latest vehicle images using the device with which you are applying for it.
Ensure to take a photo from each angle and show the vehicle identification number and odometer reading. The VIN is located on the windshield of the driver’s dash or the interior of the driver’s door.
Income Proof:
The ability to pay back the taken loan is one of the main factors for qualifying. For showing the constant income, you need to show bank statements, paycheck stubs, etc.
Retired people can offer a pension and social security benefits. Self-employed individuals can offer tax records and business financial documents and people with disabilities can offer social security documents as income proof.
Residential Proof:
For the fast cash loan in your state, you need to offer residential proof. You can select to use the recent utility bill, a rental contract, credit card statement, real estate tax bill, or even more.
Personal References:
References are required for cash loans. Considering the cash loan, you can offer personal or professional references.
How can I get a title loan without Identification documents?
To get any form of cash loan you must offer a government-approved ID. Our loans offer flexible payment plans and acknowledge different forms of identification for approval.
If you have lost or misplaced one form of identification, you need to use the other. If you are without the required identification, know that there are plenty of options for you.
The forms of identification are accepted:
- Driving License
- Valid ID
- Passport
If you do not have any valid ID, do not stress! Talk to our agents without paying any consultation fees. There may be additional identification options for you to get a cash loan.
Everyone’s background is different, so get in touch with us to talk about their unique condition.
These were some of the crucial points you must follow to get started on the Documents needed.
Recommended reading: Obtain Low-Interest Title Loans today!