Can I Get A Title Loan Without the Title? Options Depending on Your Situation

If you are considering to borrow against your vehicle title, you may be wondering if you’re able to do so when you currently don’t have your vehicle’s title handy. Whether or not that’s possible depends on your current situation. There are various reasons why you might not be in possession of the vehicle title – keep on reading to find out how your situation might apply to title loans, and find out if you may still be able to get a title loan without your vehicle’s title.

While title lenders generally need your car, truck or SUV title as proof of ownership, many situations where the title is missing can be addressed and you could ultimately still qualify for a loan.¹

Why Lenders Need Your Car Title

When you get a title loan – sometimes also called auto equity loan or pink slip loan – your vehicle is used as collateral for the loan. In order to properly document that fact, lenders usually place a lien on the vehicle for the duration of the loan. In order to do so, in most states, that means that the lender needs the original vehicle title in paper form, sometimes in combination with additional documents permitting them to add the lien.

How To Get a Title Loan Based on Your Situation

There are different reasons why you might not be in possession of your vehicle title. Depending on what situation you’re in, here are ways you might be able to address the issue:

Call Our Team

Take the first step and call our toll-free hotline to speak with a specialist.

855-422-7412

• You have lost or currently misplaced your title

  If you don’t have your vehicle title because you simply can’t find it currently, you may be able to get a duplicate title from your Department of Motor Vehicles (DMV) or equivalent government agency. Applying for a duplicate title usually involves filling out some paperwork, and paying a duplicate title fee. The fees vary by state, but often times range from just a few dollars (e.g. $14 in Nebraska) to upwards of $70 in the case of Florida.

• Your title was stolen, damaged or destroyed

  If the title to your vehicle was stolen, damaged or destroyed, your scenario is similar to someone who merely lost or misplaced their title. You can apply for a duplicate title through your local DMV or equivalent government agency. In addition, you might want to consider filing a police report or insurance claim, depending on what you know about the theft or how your vehicle title got damaged.

• Your vehicle is not yet paid off

  If you have not yet paid off the purchase of your vehicle, the lender that helped you finance the car typically still has the title. Some title loan providers offer title loans on financed vehicles. If that’s something you consider, it’s important to be mindful that the interest rates on title loans are usually much higher than the interest rates on vehicle purchase loans. It’s therefore important to make sure a title loan using a financed vehicle is in your best financial interest.

• You already have a title loan

  If you currently have a title loan, you may be able to replace it with another title loan. A title loan refinance is the process of getting a title loan against a title that’s currently used for a title loan. In that scenario, the borrower typically does not have the title since the existing title lender is holding on to it. Despite that, some lenders approve title loan refinances and then directly obtain the title from the existing lender that’s being paid off. If you live in Arizona, you might also be able to apply for a second lien title loan, while your existing title loan remains in place.

• The title is not in your name

  If you are the rightful owner of the vehicle but the title is not in your name, you might have just recently purchased the vehicle, or maybe it was gifted to you. If the vehicle title is signed over to you, you might be able to use it to start your loan application. It’s best however to request a new, clean title so that your vehicle ownership is properly documented.

• The title is not in your name only

  If the car, truck or SUV title is in your name and also in someone else’s name, the details matter a lot! Depending on your residence state, the owner names listed on the vehicle title might be connected through the word “AND” or “OR”. In most states, a connection through the word “AND” means that all owners must agree to the vehicle being used as collateral, whereas the word “OR” means that either of the owners alone can decide to borrow against the vehicle. Therefore, if you see the word “AND” on your vehicle title, you may need to apply for your title loan with a co-borrower, or otherwise get the second owner’s consent to using the auto title for a loan.

• You never received the title

  If you legally obtained ownership of the vehicle but never received the title, you may be issued a “bonded” vehicle title. A certificate of title surety bond, also just called a bonded title, is a certificate of title with a “bonded” brand. This brand signifies that a surety bond is attached to the title. A surety bond is a financial contract that guarantees payment. Scenarios where this can apply include that you purchased the vehicle and never received the title or bill of sale, or the title that was signed over to you was lost before it was transferred to you. You may still be able to get access to quick cash with a bonded title!¹ Speak to a title loan agent today about your eligibility.

How Long Does It Take to Fix a Missing Title?

Depending on which of the above situation applies to you, addressing your missing title can be very fast, or take a few days. For any of the scenarios where you don’t have the title because there is an existing loan on your vehicle, you’re in luck and don’t need to do anything, other than finding a lender that offers title loans on vehicles with existing loans.

For the scenarios where you need to obtain a duplicate title copy, complete a title transfer or other title update through your local Department of Motor Vehicles or the equivalent agency in your state, the process can usually take a few days to potentially weeks. Factors that influence how long the process will take include:

• How much paperwork you need to complete and how easy that is
• Whether or not you need to visit a local DMV office or the equivalent, and when you can get an appointment
• DMV processing times
• Whether or not an expedited service is available – some states offer expedited titles processing for a fee, for example Florida’s Fast Title Service

Depending on your situation, you might also be able to use the help of a registration service provider like the American Automobile Association or similar – this can speed up the process especially if in-person appointments are required for the transaction that you need.

How to Replace a Lost Title Copy

When you realize you have title your vehicle title, the first step you have to do is apply for a replacement. Each state has a different process for title replacement, but you can usually complete the process by mail or in person at your local Department of Motor Vehicles (DMV), Secretary of State (SOS) office or equivalent government agency. When you visit the DMV or SOS office in person to inquire for a lost title, you will usually need the following:

• Government-Issued Photo ID
• Car Registration
• Completed Title Replacement Form
• Money for the Replacement Fee (and potentially fee for expedited processing)

Have questions about how to get a car title loan without title? Call us at 855-422-7412.

How to Start a Title Transfer

Sometimes you may be able to obtain a used car as a hand-me-down from a friend or relative. If the car originally belonged to someone else and now you own it, ensure that you are given legal ownership of the vehicle. If the title is not in your name, then in the eyes of the law you are not the legal owner of the vehicle. This means you cannot sell it, trade it in, or use it to obtain an emergency loan until you acquire a new pink slip with your name on it.

For a title transfer, you will usually need the following:

• A government-issued photo ID
• A certificate of title signed by the current owner
• A completed title transfer form
• Money for the transfer fee

How to Avoid Losing Your Important Car Documents

Owning a car comes with a lot of paperwork, so you have to know where to put all these important documents to keep track of them all and keep them safe. There are some things you should keep in your car’s glove compartment and other’s you shouldn’t. Here are some tips on how to handle key documents:

Vehicle Registration

You’ll have to show “license and registration” when asked by a police officer, but you shouldn’t keep the original registration in your glove box. Instead, keeping a copy of your registration folded into your wallet behind your driver’s license is better and safer.

Proof of Car Insurance

Having car insurance is legally required and important to protect yourself financially. In most states, you can be ticketed for not having proof of insurance on hand while driving. Therefore, it’s a good idea to keep your insurance proof in your car in the glove box or another safe compartment.

Certificate of Title

Your car title or “pink slip” is one document you shouldn’t keep in your actual car. If someone were to break in and steal it, the thief would probably have everything they need to sell your vehicle. Your car’s certificate of title is the legal document that proves you have ownership of the vehicle. Instead of in your vehicle, you should keep it somewhere safe where it cannot be lost, stolen, or damaged – such as a safe or bank deposit box. While it’s possible to get a duplicate copy of your title, taking good care of the original document will save you a lot of hassle and a trip to the DMV.

Documents Needed for Online Title Loans Without The Title

If you have no title in your name, make sure you request a title transfer or a duplicate copy before you apply for an auto equity loan. Once you possess a vehicle title in your name, you can start gathering your documents together to help speed up the approval process.

Take a look at some documents you may be asked to provide, aside from just the certificate of title:

• Photo Identification: As proof of identity, you may show a government-issued ID such as a state ID, driver’s license, or passport.
• Proof of Address: Upon approval for an auto equity loan, you need to show proof of address through credit card statements, utility bills, phone bills or a similar document.¹
• Proof of Income: As proof of income, you can submit paycheck stubs, bank statements, benefit statements, etc.
• Pictures of the Vehicle: In lieu of an in-person inspection, expect to be asked for pictures of all sides of the vehicle, plus the odometer and VIN.

Title loans serviced by LoanMart offer quality service and fast access to funds. If approved, you may be able to get the money you need to handle bills in just one business day! ¹ ³