Do I Need A Job To Get An Auto Cash Title Pawn?
Here at Auto Cash USA, we understand that most people are not familiar with the process of getting an auto cash title pawn (also known as a title loan), or what restrictions and caveats one needs to worry about.
So, when you're down on your luck and in need of emergency cash, you should know what requirements are needed to qualify. Here, we'll cover whether or not you need a job to apply.
You Do Not Need A Job To Get A Title Loan
This probably sounds wrong, doesn't it? After all, who is going to lend money to someone who doesn't have a job? However, it makes a bit more sense if you understand what a title pawn is and how you get one. You see, a title pawn is all about putting up a car title as collateral.
Collateral means that the car title is offered as insurance to the lender. This insurance means you don't need a job to get a title pawn. You don't even need proof of income.
Therefore, the lender doesn't care if you have a job or not. If you lack the income to make repayment on the loan, they will take your car instead, ensuring they get paid either way.
However, if you have a way to pay back the loan, you can get the money you need and keep your car for the duration, all without ever needing a job.
But while title pawns can provide you with up to $15,000, they should only be used for urgent situations, such as emergency medical expenses, home or car repairs, or necessities such as rent or utilities that threaten late fees, eviction, or disconnection. They should not be used in a frivolous manner.
Does Having A Job Help You Qualify For A Title Loan?
OK, so maybe you don't need a job to get a title pawn, but does it help? Well, not really. Auto Cash USA can connect you to many lenders, and most of them will not ask about your job status if you have the collateral needed to qualify. As explained above, it's irrelevant to a title pawn.
When requesting a title pawn, all you need is a state-issued ID, a vehicle for inspection, and a lien-free title for that vehicle. Those are the only things you need to apply for and qualify for a title pawn.
Obviously, a state-issued ID proves your identity to a lender. You can use a driver's license, as well as other forms of ID provided by the state to fulfill this purpose.
And because a title pawn uses the value of your car to determine how much money you can get in a loan you obviously need to have a car to put up as collateral.
The car also needs to belong to you and you alone. This is where the lien-free title comes in. A lien-free title means that there are no outstanding loans against your vehicle. You cannot be using your title as collateral for another loan at the same time, nor can you still be paying it off. It has to belong solely to you.
But aside from these things, there is nothing else you need. Having a job is not necessary to apply for or qualify for a title pawn.
The Process Of Getting An Auto Cash Title Pawn
Auto Cash USA helps you find and connect with suitable vendors that can meet your needs. We do not offer title pawns, but we can connect you with the right people who do. Naturally, there are dozens of vendors out there, most of them having a similar process for a title pawn.
Generally, you will call them directly, or submit an inquiry form on their website. If you do the latter, a representative from the vendor will contact you as soon as they are able. They will organize a time to meet with you so they can inspect your ID, your car, and your car title. This will allow them to determine if you qualify, and for how much.
If you are approved, you will be asked to sign a few documents before receiving your money. Depending on the time of day you complete the process, you will either receive your money on the day of your approval or the next business day. This will be the process for nearly any vendor Auto Cash USA connects you to. It's simple and easy, so don't hesitate to reach out!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.