Can I Get A Car Title Loan With a Brand New Job?

Yes! It is possible to get a title loan if you just switched jobs or are new to the workforce – with title loans serviced by LoanMart, you can get a car title loan even if you just got a brand-new job!¹ We want to connect you to the cash you need as soon as possible.

You just got a brand-new job? Congratulations! That’s great! Even if you haven’t started getting paid yet, you can still get a car title loan serviced by LoanMart¹. In fact, there are a few different options to do so.

Get Money While You Are Waiting for Your First Check

With title loans serviced by LoanMart, applicant’s are not evaluated differently based on their source of income. Unlike with traditional loans, the title loan application process is fast and easy. To apply you will need to submit a few documents and meet the title loan requirements.

Here are some of the documents you’ll need:

• Car title in your name
• Proof of source of income
• Proof of residence
• Proof of insurance
• Government-issued identification document such as ID, passport or driver’s license

It is no surprise that thousands have chosen LoanMart car title loans. The whole process is fast, simple and efficient. Our goal is to supply you with money when you need it the most. We are an ideal lender for car title loans because of our flexible terms and lenient application requirements.  Your documents will be verified within a few minutes, and the request of the loan will be approved and processed as soon as the next business day².

How To Provide Proof of Income If You Are Newly Employed

With a new job, it may seem difficult to be able to demonstrate a regular stream of income, and many lenders require income verification during final approval.¹ The good news is that even if you just started a new position, you may be able to provide sufficient evidence of your earnings.

With car title loans serviced by LoanMart, your application may qualify for final approval if you can provide a job letter or similar formal documentation from your new employer that shows all important details such as your position, start date and rate of pay. In some circumstances, the loan underwriter may reach out directly to your new employer to confirm the information via phone call.

In addition, if you have additional sources of income that you can use to make payments on a car title loan such as income from disability or rental income, you can provide acceptable documentation for those income sources to have them considered for the loan application.

Lastly, if the income you expect to receive from your new job is not sufficient to comfortably afford the title loan payments, you can apply with a co-signer or co-borrower and have their income included on the loan application.

Tips for Applying for A Loan With a New Job

If you just made a career move and are in need of a loan, you can still apply for the cash you need through a title loan. When completing a loan application after switching jobs, the below tips could be helpful to make the process a bit smoother:

• Understand the lender requirements: While lenders typically prefer that applicants have been in their jobs for a few months, many are open to offering credit to customers who just started a new job. Asking the lender up-front before submitting an application can save you time and effort. If a particular lender you are considering has a minimum “time at job” requirement that you do not meet, you might as well save the time of applying. In that case, you can either decide to wait a few days or weeks until you meet the required time, or explore other loan options.
• Expect to provide documents other than paystubs: Even though you are not yet able to provide paystubs as proof of your employment and income, most lenders will require some verifiable evidence of your new job.
• Consider applying with a co-signer or co-borrower: Adding a willing co-borrower or co-signer to your loan application can not only improve the income that’s considered for your loan application, but may also increase your overall chances of getting approved.¹
• Include other income: If you receive recurring income from other sources than your new job, that income can be included on your loan application as secondary income!
• Consider a salary advance: If your brand new employer has a salary advance program and your need for cash is not too large, you may be eligible for a salary advance. These programs, sometimes also referred to as earned wage access, can offer access to your salary right as you earn it, rather than waiting until payday.

Final Thoughts On Qualifying for A Loan With a New Job

Looking for a job and being in-between jobs can be a financially challenging time. With bills and recurring expenses piling up while you’re not making money, it’s understandable that you may be a bit short on cash even when you’ve finally secured your new dream job. While it can be a bit more challenging to qualify for credit after having just started with a new employer, auto title loans are available even if you’ve just started a job and need a loan! Car title loans serviced by LoanMart are not primarily based on how long you have been at your job!

So whether you just moved to a state with high job growth such as Texas, Florida or Arizona, or if you’ve stayed put locally and just switched employers, getting the cash you need can be possible with a title loan serviced by LoanMart!¹ Apply today and pre-qualify your car in minutes to see what you qualify for.