If you are struggling financially right now, you might be in need of some emergency cash in the form of a loan. You are surely not alone in your need as millions of Americans across the country seek out some form of funding when an unexpected crisis comes up. This demand for financial assistance has created a whole myriad of loan options for you to choose from.
If you have more unusual circumstances, you might be wondering if you need a bank account for title loans in New Albany, Mississippi. Whether you have poor credit or don’t have a bank account currently, there may still be funding options for you.
Title loans marketed by LoanMart may make it possible for you to be approved for a car title loan no matter your current financial situation as long as you can meet just a few basic requirements1.
No Bank Account Necessary for Title Loans in Mississippi
Car title loans work in a way that is unique to other loan options. They are secured through the use of collateral–the borrower’s car title. A lien is placed on the car title and held onto until the end of the loan period. And when you work with title loans serviced by LoanMart, you could keep driving your car while making monthly payments.
The use of collateral for approval may make it easier for individuals with bad credit or past bankruptcy to be approved1. Even better, you don’t necessarily need to have a bank account to qualify for an online title loan! Instead of asking you for your bank account information during the qualification process, all that is needed is alternative proof of income.
What Documents are Necessary for a Title Loan in New Albany, Mississippi?
- Online Inquiry Form
If you decide that you would like to apply for a title loan serviced by LoanMart in New Albany, Mississippi, then the first thing you will want to do is fill out the online inquiry form. The questionnaire will simply ask you a few basic questions about your finances and your car.
- Proof of Income
For proof of income, some other loans out there might ask for bank account statements, but title loans serviced by LoanMart accept other forms of documentation.
Some forms to show proof of income may include (but are not limited to):
- Social Security benefits statements
- Annuity Documents
- Court Settlement Documents
- Government Issued Identification
It’s important that you have a valid form of government-issued photo identification. You could use a driver’s license, passport, or state-issued identification card.
- Proof of Residence
Car title loans are not available in every state in America, so it is important for you to prove that you live in the state that you are attempting to get your title loan in. This can be done through proof of residence.
Documents you can use to prove your state residence include:
- A household utility
- Mortgage statement
- Lease agreement
- Certificate of voter registration
- Title of Your Car
Since the value of your car is used as collateral for the loan, it’s important that you send in the car title for your vehicle. Your vehicle’s title must be in your name. Title loans serviced by LoanMart will return the title to you upon repayment of the loan.
- Pictures of the Car
In order to verify various details of the car, title loans serviced by LoanMart will ask you to send a couple pictures of the vehicle from all angles. This negates the need for an in-person vehicle inspection.
And lastly, title loans serviced by LoanMart ask that you provide references, either professional or personal to showcase your good character and financial reliability.
With title loans serviced by LoanMart, you don’t need a bank account to qualify for an auto title loan in New Albany, Mississippi1. And to sweeten the deal, even more, you could receive your title loan funds in as little as one business day after approval1! So, what are you waiting for? Apply today!