Learn The Requirements To Get Title or Payday Loans
Title loans and payday loans are both loan options for urgent financial situations. That's why we at Title & Payday Loans have found quality licensed vendors to connect you with so you can get your emergency cash when you need it. The following sections will explain both title loan requirements and payday loan requirements. So, if you have ever wondered “What do I need to get a title loan?” or “What do I need to get a payday loan?” look no further for the answers!
Before getting into the details of the title loan requirements, it's important to know what a title loan is exactly. A title loan is a secured loan which uses the value of a vehicle's lien-free title as collateral. Our licensed vendors offer up to $15,000 in title loan cash. With the simple remote car title loan online process, much of this can be completed virtually!
Now, let's jump into the title loan requirements. We're here to make the process of getting a title loan as quick and easy as possible. To help us get you the cash you need today, we ask that you bring along these required items when visiting one of our many licensed vendor locations.
Title Loan Requirements
The title loan requirements are simple, but each is necessary. Since it's a secured loan, the collateral lies in the value of the vehicle's title. While the loan representative will inspect the car, you can keep driving the car while paying off the loan. All four of these items are necessary to obtain a car title loan online from one of our licensed vendors:
Government-issued ID. Most commonly a driver's license, but other government or state-issued, photo IDs will work. This is to prove your identity and show that you meet the minimum age requirement of 18 years old.
Lien-Free Car Title. It is essential that your car title is lien-free which shows that you own the vehicle outright and are no longer paying it off. This proves that the title and vehicle belong to you only and therefore you have the authority to use it as collateral for a loan.
Vehicle for Inspection. The amount of money you can qualify for is determined by the value of your vehicle. And as such, we will need to see your vehicle and assess its condition. This can be done at a location of your choice, even your home or workplace, to make it convenient for you.
Proof of Income. We will need to see proof of income (e.g. your most recent pay stub) so that we know if and when you will be able to repay the loan.
Payday Loan Requirements
Before explaining the payday loan requirements, we will define a payday loan. A payday loan is also referred to as a payday advance, because it is a smaller loan that acts as a bridge to get you to your next paycheck. Although repayment times vary case by case, it is often repaid by your next paycheck or shortly after. These loans can be up to $1,200 from our licensed vendors.
With the payday loan requirements, only three things are needed! This is an unsecured loan which does not use collateral. The items you need include:
Government-issued ID. We need this to verify and prove your identity, as well as to show that you are at least 18 years of age.
Copy of Your Most Recent Pay Stub. This is important for a payday advance loan because our vendors need to know how much you qualify for based on how much you make in your paycheck and when you are paid.
Blank Check. This must be a check from an active checking account that is in your name.
Your Documents are Kept Confidential and Safe
You can be assured that the required documents that we have mentioned are kept safe and private. We respect customer privacy, so your documents are kept confidential. We just use them for verification purposes to qualify for the loans.
Other Requirements To Know
Do I Need To Be Employed To Get A Loan?
Not necessarily. A source of income is needed, but employment is not necessarily required. If you receive income in a way that is different from a traditional paycheck (e.g. social security) you may still qualify for a loan as long as you can show that you have regular income.
Is Good Credit Required To Get A Loan?
No, you can still qualify for a title or payday loan if you have bad credit or even no credit! That is why these are sometimes called a bad credit title loan and a bad credit payday loan. Applying for these loans also does not affect your credit score since it is not reported to the credit bureaus.
Is A Store Visit Necessary?
It is required for a payday loan, but not a title loan. For a title loan you can choose the location that is convenient for you to meet. Or you can visit the licensed loan vendors we work with at one of these loan store locations, which is also where the payday loan store visit will take place.
Get Your Title or Payday Loan Today!
And there you have it, that's truly it! Now that you know the title loan and payday loan requirements, just bring these items to one of our licensed vendor locations, and you'll be on your way to getting the cash you need today! Get started now by filling out our online request form and let us help you get the extra cash you need today with a title or payday loan!