Can You Get a Title Loan Without a Title?

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Sometimes known as “auto equity loans,” title loans offer borrowers a convenient way to bridge temporary gaps in income by using their cars as collateral. Title loan lenders use the equity in your paid-off vehicle to determine how much they can lend. If you default, the vehicle can be seized in lieu of repayment.

That’s all well and good, but can you get a title loan without a title?

Do Title Loans Work Without the Title?

Unfortunately, the answer is no. It doesn’t matter if you’re looking for a single-payment title loan or an installment loan, trying to get a title loan without a title is like trying to get a home equity loan without any property.

However, getting the title should be fairly simple. You’ll usually need to do nothing more than visit your local DMV with:

  • Driver’s License
  • Vehicle Registration
  • Auto Insurance

A small processing fee may be required, but this should come to no more than $20. That said, requirements can very by state.

Title Loans Without Seeing Car

On the other hand, you don’t always actually have to show the car to get a title loan, but you will need the following:

  • Identification Documents: This means providing a driver’s license and Social Security number to prove your identity. If you aren’t licensed to drive, any valid state-issued ID card, military identification, or passport will do.
  • Residency Documents: Title loans are only legal in 27 states, so you must prove you live somewhere that allows them. Bring a recent utility or phone bill and either your house deed or lease.
  • Financial Documents: Title loans without proof of income are tricky because lenders want to know you can afford the monthly payments. Most lenders require one to four weeks of pay stubs.
  • Vehicle Documents: The vehicle title and registration is necessary to ensure there are no current liens and that you are the rightful owner. Lien release paperwork must be presented if your car was under a previous lien.
  • Reference Information: Most companies require at least two references to determine your character and ability to repay the loan.

Contact Xpress Cash for Further Advice on Auto Title Loans

We have branches across Idaho, Wisconsin, and Michigan, so feel free to visit us today or contact us directly for more information on how title loans work.