Can You Get A Title Loan Without The Title in 2022


When you need cash quickly and want more financial flexibility than a payday loan or an installment loan can provide, a title loan can be a good choice for you. This type of loan allows you to borrow money against the value of your vehicle. They will use the title of your vehicle as collateral for the loan. You will normally need one in order to be qualified, but it cannot be put up as collateral for a loan in most circumstances. If you do not currently possess a title, you do, however, have a few options available to you.

Can I get a title loan even if I don’t have the title to my car?

what if you don’t have the title? If you don’t have the title to your car, you won’t be able to get a loan against it. Instead of utilizing the title of your automobile as security for the loan, you will be given an unsecured installment loan, and it is possible that you will only be qualified for a smaller loan amount. In order to submit an application for a loan, the vast majority of creditors ask applicants to submit an original copy of their title.

If you have already used the title of your vehicle as collateral for another loan, or if you are unable to find it, it is still possible for you to receive a loan that is secured by your vehicle.

How to get a loan on your car title without a clear title

If you want to get approved for an auto title loan, you need to make sure that the title to your vehicle is free and clear, which means that it is not currently being used as collateral for another loan. However, you might be able to get one by taking out a loan against the equity in your car.

In the same way that homes equity loans allow you to borrow money against the value of your house, auto equity loans enable you to borrow money against the value of your vehicle. If you’ve already paid off 70 percent of your loan and want to use the remaining 70 percent as collateral, read this. You are able to take out loans against the 70 percent of your vehicle that you have if you get an auto equity loan.

Because there is a difference between loans secured by auto titles and equity loans, you shouldn’t automatically dismiss lenders of auto title loans. There are certain lenders who will use both of those words together.

How to get a car’s title if you don’t have it

You are required to obtain an additional copy of your title from the Department of Motor Vehicles in your area if you do not have a title or other information that is printed on your title. The manner in which you carry out these steps will vary from state to state.

You are able to fill out the form online in select areas, such as New York, and have it delivered to you within two to three business days. In some jurisdictions, such as California and Texas, the Department of Motor Vehicles (DMV) could need you to download an application document, fill it out, and then either mail it or bring it in to be processed in person.

In most cases, you will need to ensure that your application has the following information:

  • It’s about the application. If you are submitting through the mail, then you will need to submit an application that has been filled out, signed, and dated. It is possible that the state you live in requires you to have the form notarized.
  • Documentation of one’s identity It is allowed to present any form of identification approved by the government, such as a driver’s license or a passport.
  • A cost associated with altering your title. It’s possible that some states will need you to pay with a money order, while others might take a cashier’s check or a personal check instead.

No title? Instead, take into account these options

If you don’t have the best credit, you can still discover alternative ways to get cash in a hurry, even if you don’t have a car title to put up as collateral:

  • Payday loans. When you only need a few hundred pounds, getting a payday loan could be just as quick — and nearly as expensive — as getting a title loan. When applying for a payday loan, a high credit score is not required at all.
  • Installment loan. You could use a few thousand dollars, right? You can acquire a shorter-term installment loan, which will provide you with more flexible monthly payments and can be almost as fast as a payday loan. You can get this type of loan through a financial institution. You also do not need to have good credit, but the interest rates on these loans can be quite high.
  • Loans are similar to payday alternatives. If you don’t have to be anywhere in a hurry, it would be a good idea to find out if the local federal credit union that you belong to offers payday loans (PALS). They are open to borrowers with any form of credit and have annual percentage rates of 28%. If you want to qualify for a title loan, you’ll need to join a credit union first because the annual percentage rate (APR) on these loans can easily surpass 300 percent.
  • Local resources. If you find yourself in need of assistance on a regular basis, you might want to look into the local government assistance programs that are available in your area. These programs can help you pay for things like going out to eat or taking care of your children.

When it comes down to it, owning the title to your car can make it much simpler to get financing for it. When you have finished making all of the payments on your car, the title will be mailed to you. Take a look at our comprehensive guide on the steps to acquire a car title in the event that you misplace your current title or require additional information about the processes that are followed at the DMV.


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