Can I Get a Title Loan with the Bill of Sale?
Unfortunately, you cannot get a title loan with just the bill of sale. In most cases, you will need a qualifying vehicle title in your name in order to qualify for a car title loan.5 The car title is integral to the title loan application process for many reasons. One of the most prominent reasons is that you are required to pledge a car title as collateral for a loan.
If you need emergency cash to get your finances back in order, an online title loan could be the solution you’ve been searching for. Max CashⓇ Title Loans is here to help you learn more about the title loan process! Keep reading to learn more about what you will need to qualify for a car title loan near you.5
Does a Car Have to Be in My Name to Use as Collateral?
Typically, yes, you will need to have a title to a qualifying car in your name to use it as collateral for a loan. When you think about it, it makes sense! Title loans are secured loans, and you will not be able to borrow against an asset that isn’t yours. If you are still paying off your vehicle, the car is not technically yours yet. Getting a title loan on a financed car is possible, but it is a little bit more complicated.
You will not be able to get a title loan with just the bill of sale, and you will not be able to get a title loan without the title in hand. If you have any issues with your title or questions about the title loan process, call a Max Cash Title Loan agent at 855-561-5626 today!
How Can I Transfer a Car Title to My Name?
If you are the rightful owner of a vehicle, you can visit your local Department of Motor Vehicles (or state equivalent) and fill out an application for a title transfer to your name. Since the title transfer process can vary from state to state, it is recommended to visit your local DMV’s website to find out more about the exact documents you will need to complete the process.
If you recently purchased your current vehicle from a private seller, then you should already have a signed title! Typically, the seller is legally required to sign the title before the vehicle can be transferred to you. In some cases, you will be required to provide the bill of sale in order to complete a title transfer. Depending on your current state of residence, you may be required to provide additional documents during the title transfer process. This could include a completed transfer of ownership form and a few documents to verify your identity and current address.
Once the title transfer is complete and you have a car title in your name, you can apply for a title loan! Visit the FAQ page to learn more about title loans. Or, click here to apply for a title loan with Max Cash Title Loans today.5
What Do I Need to Apply for a Title Loan without the Title in Hand?
Firstly, you will need a car title to apply for a title loan. Therefore, you can’t get a title loan without the title in hand! In addition to having a car title, you will need to submit a few documents to apply for a title loan. You will also need to meet the lender’s application criteria. To apply for a title loan, you generally need the following documents and information:
- Vehicle title: You will need to provide the original title of the vehicle you wish to use as collateral for the loan. The title should be in your name, and it should be free of liens or any other encumbrances.
- Identification: You will need to provide a valid, government-issued identification card, such as a driver’s license or passport. The identification should have your current address and match the name on the vehicle title.
- Proof of income: Lenders typically require proof of income to ensure that you have the means to repay the loan. This can include recent pay stubs, bank statements, tax returns, or other relevant documents that demonstrate your income.
- Vehicle information: You will need to provide details about the vehicle, such as its make, model, year, mileage, and Vehicle Identification Number (VIN). Lenders may also require photographs of the vehicle.
Other Documents You May Need to Get a Title Loan
- Registration and insurance: Some lenders may require you to provide proof of vehicle registration and insurance. These documents help establish that the vehicle is legally owned and insured.
- Additional documents: Depending on the lender and your specific situation, you may be asked to provide additional documentation. This can include proof of residence (such as utility bills or lease agreements), references, or any other documentation that the lender deems necessary.
It’s important to note that the specific requirements for a title loan can vary between lenders and jurisdictions. It’s advisable to contact the lender directly or review their application requirements to get precise information about what you need to provide when applying for a title loan. Call 855-561-5626 to learn more about the documents you will need to apply for a title loan today!5
How do I Get a Title Loan Without the Bill of Sale?
You won’t be able to get a title loan without the bill of sale. But, if you’re ready to apply for a car title loan, applying can be simple!5 Just give us a call at 855-561-5626 or click here to fill out a short application form.2 5
Here’s what you can expect when you choose to work with Max Cash Title Loans:5
- Bad Credit May Not Hold You Back5
- We Make Applying for a Title Loan Simple and Painless5
- Access Our Network of Verified Lenders if You are Qualified5
- All You Will Need to do is Upload a Few Simple Documents and Fill out an Application Form
- Our Compassionate Title Loan Agents are Available 7 Days a Week to Take Your Call