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Is it possible to pawn your car title with no job? Yes! When you work with title loans serviced by LoanMart, you don’t necessarily need a job to qualify for quick emergency cash!1
Do I Qualify to Pawn My Car Title with No Job?
Title loans serviced by LoanMart have flexible qualification requirements. In order to be deemed eligible, you only need a qualifying car and proof of income.1 But if you have no job, how can you qualify with no proof of income for a title loan?
How to Show Proof of Income with No Job
There are various types of documents you can submit as proof of income when you work with title loans serviced by LoanMart. While most people choose to provide paycheck stubs, you could submit alternative paperwork.
For example, you may be able to use any of the following documents to prove your income:
If you have no job but have more than enough money in the bank to repay a title loan on time, you could qualify!1 All you have to do is provide recent bank statements that prove to an agent you have the necessary funds in your checking or savings account.
Government Award Letters
Not having a job doesn’t have to deter you from receiving the financial relief you need in a hurry. If you receive government benefits, you could show your ability to pay back a title loan serviced by LoanMart by showing letters or statements.
If you are retired, you could provide Social Security benefit statements or pension statements. Or if you were injured on the job and receive workers compensation, you could provide statements or paycheck stubs as proof of income.
If you are self-employed, you may be able to provide a title loan agent with recent tax returns as proof of income. Your tax returns will show how much you earned the previous year and from which employer. An alternative would be to provide other official documentation of your hours and work. Speak to an agent about your options.
What Happens to My Car if I Pawn My Title with No Job?
If you’re thinking about pawning your car title to obtain a title loan, you may wonder what happens to your car during the repayment process.
While there are secured loan options out there that require the physical possession of your car–such as pawn shops–but that isn’t the case with title loans serviced by LoanMart! While you make monthly title loan payments, you could continue to drive your car. Making loan payments should not add stress to your life, so terms are kept reasonable and flexible1.
During the repayment process, a lien is placed on the car title document. This signifies that you have entered into a financial agreement and used the car as collateral. Once you have repaid your title loan in full, the lien is removed and you can then sell, trade, or use your car to obtain another title loan should you need one.
How Can I Make Title Loan Payments with No Job?
During the repayment process with title loans serviced by LoanMart, you can choose between numerous payment methods. There is no need for you to take time out of your busy schedule to drop off a payment in person–unless you choose to do so.
Take a look at some popular title loan payment methods:
- Over the Phone: You could choose to make your title loan payment over the phone by speaking with an agent and using a debit or credit card.
- By Mail: If you want to send in a title loan payment by mail, you could choose to do so.
- Through Online Account: By accessing your online title loan account, you could make monthly payments using a debit or credit card.
- Mobile App: By logging onto your title loan account through the mobile app, you could make a payment at any time.
- In Person: By visiting a local MoneyGram location in-person, you could send a money order or wire transfer.
- Automatic Payments: By signing up for automatic payments, you don’t have to worry about missing payments and paying late fees. The monthly title loan amount can be automatically deducted right from your checking account.
With title loans serviced by LoanMart, you are also not locked into one singular payment method. If you choose to switch up how you make payments, there are no penalties.
Starting the Process to Pawn Your Car Title with No Job
The approval process for title loans is flexible and straightforward, especially when you work with title loans serviced by LoanMart.1 The process consists of three easy steps, which can all be completed online!1
To get started, you can choose to speak over the phone by dialing (855) 422-7412 or complete a title loan questionnaire online. You will be asked to provide some details about your car to gauge how much your car is worth on the market. If your car is deemed valuable, you can proceed with uploading photos of your documents online!
A title loan agent will use photos of your documents to verify your identity and information. Once everything checks out and you are approved, you can sign your customized title loan agreement and receive your money!
If you can’t afford to wait for financial relief, inquire for a title loan serviced by LoanMart! You may be able to obtain the money you need the same day you inquire!1, 3