Title Loans in Palm Bay, Florida

How Do I Qualify for Title Loans in Palm Bay?

If you’re faced with a tough financial emergency and need access to fast cash, a vehicle title loan could be one of the options to consider in Palm Bay. In order to qualify to borrow money against your vehicle, you merely need to meet these basic title loan qualification requirements:¹

• Own a paid-off or nearly paid-off vehicle
• Have sufficient income to make loan payments
• Meet the title lender’s basic underwriting criteria

With title loans serviced by LoanMart, qualifying for the cash you need in Palm Bay can be fast and easy if you own a vehicle!¹

Do I Need to Have a Regular Income to Get a Palm Bay Title Loan?

No! Gone are the days when you had to have a twice-a-month paycheck to be able to apply for a title loan. Today, many of us support ourselves in non-traditional ways – whether that’s through self-employment, driving for Uber, or seasonal work. There are many ways to earn a living besides working an office job, and there are many ways to qualify for a Palm Bay title loan! While you are required to have verifiable income to make the loan payments, that income can come from non-traditional sources.

Many lenders don’t care how you get by financially, but not all forms of alternative income are accepted. To apply for title loans serviced by LoanMart, you are required to provide proof of a confirmable source of income. Essentially, you must be able to demonstrate that you can repay the title loan.

But what qualifies as income? If you do not currently work a 9-5 job, you may wonder what types of alternative incomes are accepted. The answer is that almost all legitimate incomes can be accepted, if they can be verified!¹ Here are some of the most commonly used alternative income sources that Palm Bay residents have used to qualify for title loans:

• Worker’s Compensation
• Disability/Supplemental Security Income
• Pension or Retirement Income
• Income from Self-Employment

What Documents Can I Use As Proof of Income For an Auto Title Loan in Palm Bay?

Whether you are self-employed in Palm Bay, or pursue gig work jobs in nearby cities like Fort Pierce or West Palm Beach, here are examples of some of the documents you can use to show sufficient income to get approved for an auto title loan:¹

• Paycheck Stubs
• Bank Statements
• Government Income Award Letters
• Other legitimate documents showing income, such as PayPal statements

What Other Documents Do I Need to Get a Palm Bay Title Loan?

While the application process for Palm Bay title loans can be simple and straightforward, there are a few pieces of paperwork that are required upon approval.¹ Besides proof of income, you must provide paperwork verifying your age and identity, vehicle ownership, and other application information. While the exact documents can vary from one applicant to the next, you can expect to need these documents upon approval for a Palm Bay auto title loan:

• A Valid Government Issued Photo ID: Such as a driver’s license, a state-issued ID, or a passport with a photo. The photo ID must be government-issued and unexpired to qualify as proof of identity.
• Address Verification: Title loans are a great financial resource to consider when you need to get back on your feet, but they are not available in every state. Therefore, you must be able to prove that you reside in the state you are applying from. Some accepted documents are recent utility bills, a lease agreement, or even recent credit card statements with your Palm Bay address.
• Vehicle Photos: Provide pictures of all four sides of your car, the odometer, and the VIN.
• Your Car’s Title: The title must also be in your name at the time of application. If it is not currently in your name, you will need to contact a title loan agent to see what you can do to get your title in the right shape to apply. LoanMart title loan agents may be able to guide you toward the right steps to transfer the car’s title into your name.

After submitting all the required documents, the loan process typically moves at a quick pace.¹ If we require anything else from you, your loan agent will let you know.

Is a Vehicle Inspection Required to Qualify for a Car Title Loan in Palm Bay?

With a car title loan, your car’s equity is one of the most important factors in the approval process. Since you are borrowing off your car’s value with a title loan, it must have a certain amount of equity to qualify. But what is vehicle equity with a car title loan? Equity in this context is just the difference between the current value of the car and what is potentially owed on it, if anything.

One factor contributing to your car’s equity is the current condition of the vehicle. In order for title loan agents to identify your car’s current condition for a Palm Bay title loan, you will need to have your vehicle appraised. However, with a title loan serviced by LoanMart, that inspection can take place online! Just submit a few clear photos of your vehicle to bypass an in-person inspection at a loan store. LoanMart-serviced loans are all about convenience, so you will not need to waste gas or travel anywhere to complete this inspection. Just send the required photos in with your other documents. You can choose to do so via email or fax, or upload them on our website!

Ready to apply? Start your application online or call 855-422-7412 to speak to a title loan agent directly.

Do I Need Great Credit to Qualify for Palm Bay Title Loans?

Behind on bills? If things are tough financially, chances are your credit may not be in the best shape. Missed payments and other negative factors can seriously impact your score and your ability to qualify for loans or credit cards. While you may not be able to qualify for an unsecured personal loan from a bank or credit union without great credit, perfect credit it is not necessary to qualify for Palm Bay title loans.¹

With a car title loan, collateral is used to secure the funding. The collateral is the title to the borrower’s vehicle, which helps reduce the lending risk if the borrower does not have a strong credit history. While your credit history will still be considered during the application, it is not the entire focus. Instead, these two factors will matter more:

• Your Ability to Repay the Title Loan
• The Equity in Your Vehicle

How Long Will It Take to Get Palm Bay Title Loans?

If you find yourself stuck in a tough financial situation, you may not have any time to waste. Understandably, you want to be able to get access to your title loan money as soon as possible! Some qualified customers have been able to get their title loan serviced by LoanMart within one business day after applying! Some customers even receive their cash the same day they apply.³

So if you are faced with a financial emergency, don’t face it alone! Find out if your income and vehicle can qualify for a car title loan serviced by LoanMart in Palm Bay, Florida.

What Happens if I Default on Palm Bay Title Loans?

We all have times when our financial situation is not as stable as we’d like. This is why it’s important to be absolutely positive you can pay your loan every month. If you cannot, you may want to look at other options. If, on the other hand, you do decide to move forward within the loan process, please be aware that if you cannot fulfill the terms of your loan at any point, you will be at risk of repossession, and your vehicle could potentially be sold to recover the unpaid loan balance.

If you realize you will fall short of the monthly payment amount you owe, please contact title loans serviced by LoanMart. Do what you can to make sure that your financial situation is known. Title loan agents are available six days a week for extended hours to take your call, so take advantage of that before you miss a payment!

How Do I Get a Title Loan in Palm Bay?

With title loans serviced by LoanMart’s easy online process, of course! The main goal is to make getting a Palm Bay title loan straightforward and brief, so you can borrow more reasonable terms and receive the money you need in your hands as quickly as possible.³

Want more details about how the title loan process works? Keep reading!

• Step One: Answer the questions on the pre-qualification form so the title loan agents can learn more about you and your car. Depending on how you answer, your vehicle may even receive a pre-qualification loan amount on the spot.¹
• Step Two: Don’t stray too far from your phone! A loan agent will give you a call shortly to let you know what other information is needed to move you along in the loan process. These documents typically include a form of identification, proof of income, and your car title. You will then be told where to send these items.
• Step Three: Sign the title loan agreement and choose the way you’d prefer to receive your loan. To move the process along even faster, you add your signature electronically. Another advantage of an electronic signature is that your funds are added to your account via direct deposit.

Once all three steps are completed, you’ll receive your funds if you qualify.¹

But please be aware that if any problems arise during this process, you can:

• Talk to a dedicated loan agent on the phone
• Send your documents via email

How Do I Receive the Funds for My Palm Bay Title Loan?

Upon final approval of your car collateral loan, you can choose how you’d like to receive your funds.¹ Whether you live in Palm Bay, Palm Coast, Brandon or anywhere else in Florida, you have several convenient options to receive your loan proceeds:

• The Bank – When you loan is finalized, provide your routing and checking numbers and you can receive your funds through a bank ACH or bank wire. Please be aware that the funding speed can vary depending on the method you choose, and bank transfer cannot be processed on weekends and bank holidays.
• A Check – Not comfortable handing out your banking details? No problem. Title loans serviced by LoanMart can be funded through a check, which you can cash at your bank or any other check cashing service.
• In Person – Stop by a participating money transfer location in Palm Bay to pick up your funds.

Payment Locations for Your Palm Bay Title Loan

Some borrowers choose to repay a car title loan in person, and that’s okay! Choosing a title loan serviced by LoanMart means you can pay your funds back at a variety of locations around the city. Several Palm Bay stores may allow you to make your loan payment, including participating:

• CVS
• Walmart stores with a Money Center
• MoneyGram locations near you

Get Started with a Title Loan in Palm Bay Today!

When cash is tight and you need a loan fast, title loans serviced by LoanMart can help. Receive your funds in as little as one business day with a vehicle-secured loan in Palm Bay, serviced by LoanMart.^{1 3}