Can I get a title loan without proof of income?

Quick Answer No, lenders typically require proof of income for a title loan, even if the income comes from non-traditional sources like government benefits or annuities. This is because lenders want to ensure that borrowers have the ability to repay the loan.

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Samuel Fisher ā€¢ Answer updated on Jun 26, 2023

Fact checked by Dwayne Dumesle

No, you cannot secure a title loan without proof of income. Why? Well, there are a variety of reasons.

Lenders are facing growing pressure and regulations to ensure that potential borrowers can repay a loan before approving it.[1] And this includes title loan lenders. Proof of income is a crucial document in demonstrating that they made sure a borrower could repay.

Learn: Can I get a title loan with no insurance?

If you don't have adequate proof of income, you still have some options to consider though!

Proof of income comes in many different shapes and sizes. Here are some examples of solid documents you can use to prove your income:

  • Pay stubs
  • Bank Statements
  • Tax returns
  • Employer letters
  • 1099 & W2 forms[2]

Title loan lenders will also work with alternative income sources (as long as you have a lien-free title and running vehicle, of course). What are alternative sources of income that may qualify? šŸ’”

  • Unemployment checks
  • Social Security benefits
  • Family inheritance
  • Annuities (ex., pension plan, Powerball annuity šŸ‘€)
  • Court-ordered settlement
  • Worker's compensation
  • Severance pay

Remember that lenders only loan out money that they are confident they will get back. It's my humble opinion, you should first secure adequate proof of income before searching for a title loan. You're going to be spinning your wheels if you skip that step (pun intended)!

  1. Payday, Vehicle Title, and Certain High-Cost Installment Loans ā†©ļøŽ

  2. What Is Proof of Income, and When Do You Need It? ā†©ļøŽ

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