How to get a title loan with no proof of income

It’s possible get a title loan without money coming in — but is it your best option?

Can I get a title loan with no income?

Maybe, depending on where you live and who you borrow from. Some states require title loan providers to verify that you have enough money coming in to pay off your loan. Others might not require proof of income, but limit how much you can borrow to a percentage of your income.

Even if your state doesn’t require lenders to ask for proof of income, many reputable lenders still do. Make sure you can qualify before you apply.

How to get a title loan with no income in 4 steps

When you’ve considered the alternatives and decided a title loan is the best option for you — even without verifiable income — follow these steps to find financing:

Step 1: Consider all possible sources of income

Unemployed? Don’t have a verifiable salary? You still might have income. Title lenders often consider any regular money coming in as income, including:

• Pensions
• Social Security
• Alimony
• Child support
• Disability benefits
• Unemployment benefits
• Other welfare benefits

As long as you receive money each month and have the receipts to prove it, you have income.

Step 2: Check your state’s laws

If you don’t have any verifiable income, make sure it’s legal for title lenders to offer you a loan without verifying your income.

If it’s illegal, title loans aren’t an option for you right now — working with an illegitimate lender can expose you to predatory practices and typically make it difficult for you to take legal action if something goes wrong.

Step 3: Compare lenders

Look for lenders that don’t require employment or income before comparing APRs and loan terms. If it’s unclear whether or not you can qualify, reach out to customer service.

Before applying, check to make sure your lender is licensed to lend in your state if it’s required.

Step 4: Apply for the loan

While you can often get started on your title loan application online, most lenders require you to drive your vehicle to a storefront to have it inspected and sign your loan documents. Once you get to your local branch, you can typically get your money in around 30 minutes.

Compare auto title loans

Check that you meet the minimum requirements of the lender before applying.

{"niche":"USFSL"}

Sort by:

Name	Product	Filter Values	Max. Loan Amount	Turnaround Time	Requirements
Max Cash Title Loans			$50,000	1 business day	Must be a US citizen or permanent resident, 18 or older with a regular source of income.	With a quick online application, Max Cash could help connect you with a lender, finding you options in minutes.	Go to site More Info		loading Fetching your data...
AutoTitleLoans.com Car Title Loans			$10,000	Varies by lender	Have a regular source of income, not be involved in any bankruptcy proceedings, be a US citizen or permanent residence, be at least 18 years old (varies by state).	Quickly find a lender and potentially borrow up to $10,000 by using this auto title loan connection service.	Go to site More Info		loading Fetching your data...
LoanMart Car Title Loans			$50,000	1 business day	Must live in AL, AZ, IL, MO, NM, SC or UT. Must have verifiable income, car value of at least $1,500 and a vehicle that is paid-off or close to being paid-off.	A LoanMart auto title loan allows you to borrow money against your car, even if you have bad credit.	Go to site More Info		loading Fetching your data...
Finova Financial Auto Equity Loans			$5,000	as little as one business day	Must live in AZ, CA, FL, NM, SC or TN. Must own your car outright, have a valid car insurance policy and be a US citizen or permanent resident.	Short-term loans secured by your car title. Repayments accepted through MoneyGram if you don't have a bank account.	Go to site More Info		loading Fetching your data...
TitleMax Auto Title Loans			$10,000	as little as 30 minutes	Must have a lien-free vehicle title, government-issued ID, and be age of majority in your state.	Auto title loans on cars and motorcycles to people in 16 states across the US.	More Info		loading Fetching your data...

Compare up to 4 providers

Clear selection

Compare

4 alternatives to title loans if you have no income

Don’t have money coming in? Consider these alternatives first before taking out a title loan:

• Take on a side gig. There are some unexpected ways to make extra cash that take minimal time or effort — like selling your photos instead of posting them on Instagram.
• Consider credit counseling. Credit counseling agencies can help you get back on track by offering free one-on-one sessions and financial well-being workshops. You can find a government-approved agency near you on the Department of Justice’s website.
• Apply for a job. Some lenders are willing to work with borrowers that have a job offer or a contract showing that they’ll have a steady income in the near future.
• Consider local resources. If you’re struggling to cover basic expenses, your local government might have programs that can help out with these costs without taking on debt.

Bottom line

While you could get a title loan when you don’t have verifiable income, it’s not always the best idea. Before comparing lenders, make sure you’ve considered all possible sources of income — and the alternatives.

Frequently asked question

• Do I need insurance for a title loan?

  Not all lenders require you to have insurance, though some might. If you meet your state’s minimum insurance laws, you typically don’t need to purchase extra insurance. Watch out, though: Some try to tack on insurance as a way to inflate the price of your loan without increasing the APR.

• What documents do I need to apply for a title loan?

  It depends on your lender, though typically you need to provide the following documents:

  • Your car’s title. You’ll need to offer your car’s title as collateral for a title loan.
  • State-issued ID. Lenders usually ask to see your state-issued ID.
  • Proof of residence. In addition to your ID, you might also be required to offer a recent utility bill or other documentation to show you live at your current address.

• What happens if I can't pay my title loan?

  It depends on your lender and state. Many borrowers renew their loan if they can’t pay it back, though many states limit how often you can do this — if at all. If you can’t renew, many states require lenders to first offer borrowers a payment plan before taking steps to repossess your car.

_{Picture: Shutterstock}