Is it Difficult to Get a Title Loan?

If you need quick cash, a title loan is a viable option. However, you may wonder if you are going to have to jump through hoops to get such a loan. After all, if banks won’t lend you money, will anyone else want to?

Let’s take a look at whether or not it is difficult to obtain a title loan.

Who Can Get a Title Loan?

According to Investopedia, most companies will not lend you money unless you own your vehicle outright. This means that your car has been paid in full and there is no money left on the loan. So, if you own your vehicle, you’ll probably qualify for a title loan. It’s that simple.

This is not to say that you will not be able to get a car title loan if you are still paying off an auto loan. Just check with a title loan company to see if they will work with you. Some may consider working with you, anyway, so it won’t hurt to try it out.


Alright, you’ve walked into the bank and walked out without any extra cash. They told you that you have bad credit or not enough credit. Oh well, you can’t get a loan, right? Not exactly.

A title loan uses your title as collateral. This lets the lender know that you intend to pay the loan back because, if you don’t, the vehicle can become the property of the lender.

Basically, getting a title loan is similar to using a pawn shop. At a pawn shop, you let them hold on to your property – such as jewelry – in exchange for a loan. If you pay them back, you get your property back.  If they never see you again, they keep your property to cover the loan. This is similar to how a title loan works, too, except that the title lender only holds onto the certificate of title to the vehicle, while you keep the vehicle to drive!.

So, often no credit check is required to get a title loan, as the lender already has a way to ensure that it gets it’s money back. You could have the worst credit in the world or just no credit at all and you’ll still get a title loan, assuming you own a vehicle.


A title loan company will generally only require a minimal amount of income verification. A recent pay stub or some other sort of proof of income should do just fine.

Again, as they have something to sell in case you don’t pay back – your vehicle – income is not that important. Think of your vehicle as a big pile of cash. If you don’t pay, the lender will take the cash from the vehicle. That’s how it works.


Qualifying for a title loan isn’t all that difficult. Just remember the following:

Ÿ  You must own your vehicle outright (no payments left)

Ÿ  There are usually no credit requirements (and often no credit check)

Ÿ  There is only a minimal income requirement and verification process


If you think that you can meet the above requirements, then you should have nothing to worry about. Basically, if you have a source of income – such as a job – and own your vehicle, you’ll walk away with a loan.

Also, you won’t have to waste time haggling with a banker who is unsympathetic to your financial needs. If the bank doesn’t want your business, that’s on them. You have another option to go to – a title loan.

Just remember to pay the loan back on time to avoid having your vehicle repossessed. Other than that, you should be able to get the quick cash that you want without having to deal with a credit check. That’s probably just what you’re looking for.