How To Get A Car Title Loan With No Income Verification
At Desert Title Loans, anyone can cash out equity from their vehicle, and applicants who don't have a full time job or can't verify their income can qualify for a title loan in Arizona.
We know how hard it is to get a short term loan, and it's frustrating to meet all the requirements and only be turned down because you have non-traditional income sources. With Desert Title Loans, proof of income doesn't always mean you must verify your job or employment status!
These days, many of our customers don't work full-time jobs; they instead work side gigs or part-time employment. Some customers don't even have traditional bank accounts, and getting approved with a lender that requires a checking or savings account is hard for them. So what are you supposed to do if you have income coming in but can't verify full time employment or show proof of a checking account?
When you apply with Desert Title Loans, it doesn't matter where you work or how many hours you work if you're looking for an online title loan in AZ! All that matters is owning a vehicle worth $4,000 or more and having some income each month. We can verify your income and get you approved quickly in multiple ways. Even with minimal income, we can still offer you a loan secured by your vehicle or a registration loan that uses your registration info as security.
What Do I Need To Qualify For A Title Loan With No Job Or Income
The requirements for a title loan without a job or employment verification are straightforward. First, you need a lien-free vehicle titled in your name. The car or SUV must be completely paid off, and you must have the car's title in your possession. While most 2014 and newer cars qualify, you stand the best chance of getting approved if your vehicle is in good condition and has fewer than 125,000 miles. You need proof of vehicle insurance, registration, and loan amounts over $2,000 require a vehicle inspection.
The inspection can occur at any retail lending office in Arizona. Some customers can have their vehicle inspected, complete the lienholder paperwork, and access their money within that visit!
In place of employment verification, we can accept the following income sources:
Income from side jobs
Annuities or bond payments
Funds from trust funds or inheritance
Structured Settlements
Workers Compensation or Social Security payment
All these income sources are pretty standard, but they fall outside of what's traditionally used to verify income and confirm that an applicant can afford a title loan. Whereas full-time employment is a steady source of income, a side job means you have money coming in at random times, and you'll need to limit your loan amount to what fits into your budget. On the other hand, annuity payments, settlements, and Social Security payments have fixed monthly amounts. There should be no issues verifying your income and confirming that you can afford a set monthly payment.
Do you have other sources of income that aren't listed here? Or do you want to apply for a vehicle or commercial truck title loan in Arizona without income verification? Contact Desert Title Loans at 623-526-5001 to see what else can be used to get you qualified and underwritten for a title loan! We're flexible with the documents. You should qualify as long as you own a vehicle that can be used as collateral.
Loan Amounts And Interest Rates For An Auto Title Loan With No Income
The equity in your vehicle primarily determines the amount you can borrow in a title loan. While we still consider your ability to repay the loan, we want to see sufficient equity in your car to serve as security for the loan. Expect $200 to $10,000 for a title loan without a job or proof of income. Interest rates are determined by your car's value and your loan repayment terms, but they'll undoubtedly be high, and you should expect an APR of 30% or higher.
You may be wondering whether these "no income verification loans" are available for registration or pink slip loans. Yes, you can get cash for your registration documents or pink slip without verifying income. Desert Title Loans works with companies offering registration loans of $200 or more, and you don't always need to verify your income or confirm employment. The underwriting is based on the equity in your car, truck, or SUV, and we'll determine an interest rate and payoff term based on your vehicle's value.
Credit Requirements For A Title Loan In Arizona Without Proof Of Income
You may notice that we haven't discussed your credit score, as that's often a central requirement for a personal loan. Traditional lenders typically require good to excellent credit; most will ask for references from past lenders. The bottom line is you won't get approved if you've recently defaulted on a loan. However, with a title loan that doesn't require a job, you don't need good credit and can qualify for $200 or more, based primarily on the equity in your vehicle. Your credit history is well down the list of requirements when you apply with us.
Apply For A No Income Title Loan With Desert Title Loans
If you need fast cash and own your vehicle outright, we can get you approved and matched with a local AZ lender in no time. Contact Desert Title Loans at 623-526-5001 to borrow cash with your car as collateral. Sometimes you need to provide proof of employment to be approved. Apply online or call us for an estimate for a title loan that doesn't require proof of income!
