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What Do I Need for a Title Loan?

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ElitesMindset Editorial Team
ElitesMindset Editorial Team
Suleman Siddiqui, an accomplished editor, navigates the realms of celebrity, lifestyle, and business with a distinctive flair. His insightful writing captures the essence of the glamorous world of celebrities, the nuances of contemporary lifestyles, and the dynamics of the ever-evolving business landscape. Siddiqui's editorial expertise combines a keen eye for detail with a passion for storytelling, making him a sought-after voice in the realms of entertainment, luxury living, and commerce.

Living paycheck-to-paycheck is a surprisingly common way of life in America. In fact, recent surveys have shown that 54% of Americans live that way. When you’re struggling to keep money in your bank account between paychecks, dealing with financial emergencies feels like an impossibility.

Car title loans are one of the ways that you can get yourself out of a bind when those emergencies arise. Are you wondering, “what do I need for a title loan?” Read on to find out!

Check Your State

The first thing you need to know about title loans is that the requirements vary from state to state. Some states may not even permit a title loans company to open its doors. If you want to make sure you’re good to go in your state, Google “what do I need for a car title loan” and add your state name to the mix. 

You Must Have Equity in Your Car

The most important thing you must have in order to qualify for car title loans is a car! Ideally, you should own your car outright, but you may also qualify for a car title loan if you have equity in your car. 

If you own your car free and clear, you will need a copy of your car title to include with your application. Car owners who are still making payments must provide a copy of the amount they owe on their car. The title loan company will evaluate your car to decide how much value it has.

Come with a Valid Government-Issued ID

It should come as no surprise that you cannot use a car to get a title loan if you don’t have a valid photo ID. It must be issued by a government entity, so a driver’s license, ID card, or passport will suffice. The name on your photo ID must match the name on the title of the car or the loan on the car.

Proof of Income

The final item you need for title loans is proof of income. Most title loan companies will ask you for your two most recent paystubs in order to demonstrate that you are gainfully employed and able to pay back the loan.

If you are an independent contractor, then ask the title company about your options. They may be able to use your 1099 or recent payments to demonstrate income.

“What Do I Need for a Title Loan?” Not a Lot!

If you’re facing a financial emergency and aren’t familiar with title loan requirements, then you’ve probably found yourself wondering “what do I need for a title loan?” All you really need to get one is a car with a clear title or equity, a valid ID, and proof that you have income to pay the loan back. With these three items, you’ll be ready to relieve your financial stress.

Dealing with finances is no easy task. If you want to improve your financial situation, then you’re probably looking for some solutions. Check out the rest of our blog for tons of great financial tips.


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