To get an auto title loan, you need a driver's license, a lien-free vehicle title, and a vehicle. Therefore, you can get title loans without proof of income, making them an option for those currently receiving unemployment benefits.
In the subsequent sections, you'll learn more about title loans, their benefits, and our process to demonstrate how accessible they are for those who cannot provide proof of income.
You Can Get Title Loans Without Proof of Income
Yes, you can get title loans without proof of income. That’s one of the most significant benefits of this loan type.
With that said, it's important to make sure you can afford the loan before you get it. Even though we don't ask for proof of income doesn't mean you should jump into a financial obligation you can't afford.
Look at your budget and calculate how much extra income you have at the end of the month. Then, consider the amount of money you'd need to spend to pay off the title loan. If you can comfortably cover your regular costs and the loan, you can justify acquiring one.
The Other Benefits of Car Title Loans
We mentioned that not requiring proof of income is one of the biggest benefits of a title loan. But there are more advantages where that came from! Have a look at a few of them below:
- They're easy to access — You begin the process from the comfort of your own home and set a location suitable for you. Because of that, title loans without proof of income are one of the most straightforward ways to get emergency money.
- They give you instant money — Unlike traditional loans, you only wait up to 48 hours to receive your title loan money. Crises don't wait, so we don't make you wait for your cash either.
- You keep your vehicle — Despite popular opinion, you can keep your vehicle while you're paying off the title loan. We place a lien on your title. We don't require you to keep it in a secure compound or hand the physical vehicle to us while you're repaying the loan.
- You don't need a guarantor or a brilliant credit score — Standard loan lenders tend to request a good to perfect credit score before they even consider your loan application. But with title loans, you can gain approval with a fair or even poor credit score. The FICO credit rating system states a poor to fair credit score ranges from 300 to 600.
What Should You Use Title Loans For?
To put it simply, you can use title loans for any emergency. Typically, our customers use our loans for the following situations:
- Paying unforeseen medical bills or medical fees that were higher than anticipated
- Funding necessary home repairs
- Paying for overdue bills to avoid further late charges or outages
- Covering the costs of unexpected travel
How to Get Car Title Loans Without Proof of Income
Here at Delaware Title Loans, Inc., we pride ourselves on offering a simple process, so that you can continue with your day as soon as possible.
Here is how a title loan works in just 6 easy steps:
- Submit the online form found on this website. Please ensure the information you supply is accurate as it's sent directly to your local Delaware Title Loans, Inc. store.
- One of our loan associates from your nearest store gives you a call once they receive your form. They tell you about the process, confirm the information you provided on the form, establish the required items, and answer your questions. Alongside that, they ask whether you'd rather meet at the store or a location closer to your home or workplace.
- Wherever you decide to meet, head to that location with your driver's license (or a different kind of photo identification provided to you by the state), lien-free vehicle title, and your vehicle. Keep in mind that your vehicle and its title must be in your name. Go to your local DMV office and request an ownership transfer if it isn't. Once the transfer completes, you can begin the title loan process.
- Sit with the loan representative who conducts a quick inspection of your car, truck, or van to establish how much cash you qualify for. With our title loans, you can borrow between $300 and $15,000, depending on your vehicle's value.
- You complete the process alongside the loan representative if you are eligible for approval.
- Finally, you receive the money you need on the same or very next business day.
Get Title Loans Without Proof of Income Today!
Title loans without proof of income are a major plus point for those seeking quick cash without employment. If you can afford to repay the loan, get started with us today.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.
