What Documents Do I Need to Apply for a Title Loan?

If you are considering applying for a title loan, you may be wondering how much documentation you will need to have on hand. The requested information and paperwork will typically be different for each lender.

But the good news is that inquiring about a car title loan can be simple and streamlined!⁵ Max Cash® has come up with a general list of documents you may need to bring with you when you apply for a title loan. In addition, there are some key pieces of information you may need when you get your title loan money.²

The Documents You May Need When You Apply

As mentioned above, the documents you need to apply for a title loan depend on the lender you apply with. In some cases, your state of residence can affect the paperwork you’ll need to get fast cash!⁵ For that reason, it is worth checking in with your lender to know exactly what they need from you.

The documents you will need for approval include:⁵

1. Personal Identification Documents: The main item that all lenders will require is an acceptable form of ID. Typically, it can be any valid, government-issued photo ID, like your driver’s license. Some lenders will also accept a Social Security card. If you don’t have a driver’s license, then lenders may also accept a state-issued ID or a U.S. passport.
2. Vehicle Documents: The vehicle’s registration and title will be required to show proof of ownership. At the time of your application, the title to your SUV, truck, or car needs to be in your name. In some cases, you will also need to provide proof of insurance. That way, lenders are protected in case your vehicle is damaged or stolen.  Also, if you are refinancing your existing loan, then you may need to provide your lender with a copy of the original loan paperwork.
3. Financial Documents: Most lenders will require you to show some type of proof of income so they know you are able to pay back the loan. Typically, you will need to provide pay stubs and some lenders may ask to see your last four recent checks. Bank statements and other paperwork may also be accepted.⁵ If you receive disability or other Social Security Income (SSI), then you will want to show statements from the Social Security Administration (SSA).  When you are retired, you may also provide a statement from the SSA or pension information.

Other Things You Will Need to Apply for a Title Loan

4. References: Many title loan companies call for at least two references. These references are usually only contacted if you default on your loan and are unable to be reached. Some lenders require both a personal and a professional reference.
5. Proof of Residence: Title loans are not available in every state. For this reason, lenders will need proof of residence to verify title loan eligibility. These documents can take the form of a phone bill, a statement from your landlord, or a deed to your house.

If you wish to know more about title loans, business loans, or even refinancing options, we recommend you check out our informational blog. We post articles on a regular basis covering a wide range of different loan-related topics.  But if you have any additional questions, feel free to contact one of our agents by dialing (833) 207-9052.

What Documents to Bring When You Pick Up Your Money

If are approved for a title loan and your documents are verified, you are able to receive your money after signing your agreement.⁵  If you are picking up your title loan funds in person, you may need to show some documentation as well.

The required paperwork you will need typically includes the following:

1. Proof of Identification: The same form of ID you used to apply for the loan is acceptable to use when you go to collect your money. You may also be required to bring your Social Security card or a document with your SSN listed.
2. Some References: The references you used when you applied should be fine. Some lenders will require three references—all of whom are unrelated to you.

Other Paperwork to Get Approved for a Title Loan

• Proof of Insurance: Make sure to have your car insurance information with you just in case. Some lenders will require that you have at least liability coverage when submitting your application.
• Pictures of Your Vehicle: Typically, a car inspection is required to verify the value of your vehicle. This factor, along with your income, will impact your loan amount.^{1 5} If you are applying for a loan online, pictures are necessary. This is due to the fact that a lender needs proof of the value of your car. The pictures should include the odometer and the VIN. Additionally, show all 4 sides of your vehicle.

At Max Cash, we provide all our services completely free of charge.

We genuinely want to help our clients, and as such, we personally vet every company we partner with. Due to this thorough vetting process, we can weed out loan companies that we don’t like.

If you wish to work with Max Cash, pick up the phone and call us at (833)207-9052 or send us an email at info@maxcash.com. Apply for a title loan today!^{2 5}