Title Loans With No Title: Is it Possible?

Can You Get a Title Loan With No Title?

No, you can’t apply for title loans with no title in your possession. A car title loan is secured by pledging your car’s title as collateral for the loan. The title to your qualifying car or truck is the most important document you will need to get approved for funding! Without a car title on hand, you won’t have the proper paperwork to guarantee your loan.

If you need emergency cash and you are missing your car’s title, don’t give up! You may still have options, so call 855-422-7402 to speak with a ChoiceCash loan officer.¹

Why Does a Car Have to Be in Your Name to Use as Collateral for a Loan?

Your car’s title must be in your possession and in your name at the time of your application. Unfortunately, you won’t be able to get title loans without the title in your name because you must be able to prove that you are the legal owner of the car. You can’t borrow against the value of a vehicle that isn’t yours! You’re still allowed to apply for a title loan if you share a vehicle with a co-owner and both of your names are on the title. However, both parties may need to be present depending on how the names are listed on the title. If there is an “and” between the names, then both owners must submit the application together. If an “or” separates the names, then in most states, either owner can submit an application without the other owner present.

If you are the car’s rightful owner but the title isn’t in your name, your next step should be to head to your local Department of Motor Vehicles Office (DMV) or the equivalent government agency in your state to complete a title transfer. Even if you don’t plan on getting a title loan in the future, it’s important to have the car title in your name as soon as possible. In most states, you are given around 30 days after purchasing a vehicle to complete a title transfer.

How to Handle Lost Car Titles

Regardless of the reason why you are missing your car’s title, it’s important to replace your lost copy immediately! Since you can’t get a title loan without a title on hand, you should follow these steps to get your duplicate car title if you want emergency cash:

Get Your Documents Together

The documents you will need to complete a title transfer can vary, but typically, you can expect to need a valid, government-issued photo ID, proof of car ownership through a vehicle registration form or a notarized bill of sale, and a completed replacement title application form. Additionally, you should be able to provide information about your car, along with the Vehicle Identification Number (VIN).

Complete Your Duplicate Title Form and Pay a Fee

After you get your documents together, it’s time to visit your local DMV, Secretary of State’s office, or the equivalent agency location in your state. In some cases, you may be able to request a duplicate title online! Whatever method you are able to choose, you will need to complete the applicable form and pay a small fee. Generally, you can pay by cash, check, or through credit / debit card. Before you start your application for a duplicate title, make sure that you know what forms of payment are accepted!

You don’t need the original copy of your car’s title to apply for a title loan as long as you get a duplicate copy! Once you have the duplicate title on hand, you can take advantage of a simple and smooth application process through ChoiceCash title loans.¹

Steps to Get a Title Loan Without a Clear Title

If you have a clear car title in your name, that means that you are its rightful owner and there are no outstanding liens against your vehicle. Typically, you need to own your car outright to get a title loan, but there are some exceptions!

If you still have a lien on your car’s title from an auto finance company or a title lender, you may still have options if you want to get a title loan without a clear title. Take a closer look at your options to move forward with a title loan:¹

• If you are still financing your vehicle, a title lender may be willing to work with you if you meet their requirements and have enough positive equity in your vehicle.
• You may be able to refinance your current title loan if your car’s title currently has a lien from another title lender. Some lenders can also offer second lien title loans but it may be harder to find a lender who is willing to work with you because second lien loans are not available in most states, and are offered by fewer lenders.

Whether you are refinancing your current title loan or applying for a title loan on a financed car, you can follow these steps to apply for the funds you need:¹

1. Submit a Prequalification Form Online or Call ChoiceCash’s Toll-Free Number to Start your Application Over the Phone
2. Send in Your Paperwork to Verify Your Information
3. Find Out if You Are Fully Approved!

You cannot get car title loans without the title in hand, but it is possible to get an auto title loan without a clear title! Complete a quick pre-approval form online today to get an instant title loan quote with zero obligation.

Can I Get a Car Title Loan With a Bonded Title?

Now that you understand that you aren’t able to get title loans with no title, you might be wondering if it’s possible to get a title loan with a bonded title. A bonded title is often issued when there are issues with proving ownership of a vehicle through conventional means. You may have received a bonded title if you purchased a vehicle but the title was damaged or improperly assigned to you.

Regardless of the circumstances surrounding your bonded title, know that it is possible to get a title loan with one! Call 855-422-7402 to speak with a title loan agent and learn more about getting a title loan with a branded or bonded title.¹

Understanding the Risks of Getting a Title Loan Without a Title

As mentioned above, you won’t be able to qualify for a title loan without the title online. If you receive a duplicate title and are searching for emergency funding, you should be aware of the potential risks of title loans before you submit your loan request!

One of the biggest potential disadvantages of car title loans is the potential for the repossession of your vehicle if you fail to keep up with your payments. Vehicle repossessions can stay on your credit report for up to 7 years, so only take out a title loan if you are sure that you can afford to pay it back! During the repayment process, you should stay in contact with your lender and let them know if you are struggling to keep up with your current schedule.

Frequently Asked Questions About Car Title Loans Without a Physical Title

While finding a lender who offers title loans with no title is highly unlikely, you can get a replacement title and apply for the emergency cash you need! Below are some frequently asked questions about car title loans that can provide more context for vehicle-secured loans:¹

Can I Get a Loan on a Car That I Don’t Own?

You must have a physical copy of your car’s title at the time of your application, and it must be in your name for you to use it as collateral for a title loan. If you are making payments on the car, you can still apply for a title loan as long as your car has enough positive equity to qualify as collateral for the loan!¹

How Do I Speed Up the Application Process for Title Loans With No Title?

Applying for a title loan online can be a lot faster than applying for a loan in person! You can start your application for a ChoiceCash title loan online and access a streamlined application process. If you’re in a rush to get your replacement title so that you can submit your application, here are a few tips to keep in mind:

• Prepare Yourself by Calling the DMV in Advance and Asking for More Information About Getting a Duplicate Title in Your State
• If You Are Submitting the Application in Person, Consider Printing Out Any Necessary Forms in Advance to Save Time
• Double-Check All of Your Documents for Accuracy to Avoid Potential Delays

How Can I Get a Collateral Loan With Bad Credit?

Although you do need to have a qualifying car title to apply for a vehicle-secured loan, you don’t need a perfect credit score to get approved for funding. Even if you have bad credit, you can use the title to your car, truck, or SUV as collateral for the loan and access emergency funds in as little as 24 hours! Call 855-422-7402 to submit a short questionnaire online today to apply for ChoiceCash title loans serviced by LoanMart.¹