What If The Car Title Is Not In My Name? How Do I Get A Loan?
Title loans can help you raise emergency cash when you just cannot handle your emergency alone. But if you don’t have your title in your name, what are you supposed to do? Are you automatically disqualified? Here is what you need to know about this exact situation.
What If The Car Title Isn’t Under My Name?
If you are going for title loans, your name has to be on the title. It is acceptable if your name is on the title with someone else, but your name has to appear. There are several valid reasons why the car title isn’t in your name:
- A friend or relative may have sold it to you, and even if you have a verbal agreement, neither of you have gone through the process of changing the names on the car title.
- You have inherited the vehicle after the original owner passed away.
- The vehicle is under your spouse’s or your ex-spouse’s name.
- The car is financed, and you are still making payments on it.
- Several people can claim ownership over the vehicle because it is a family car or you had a co-signer.
If this is your situation, what can you do to qualify for title loans? You actually have two options to go through.
Go To The Nearest DMV To Transfer The Title
You can have the car registered under your name at your state DMV (Department of Motor Vehicles). Contact them to arrange an appointment and ask about the requirements for transferring the title.
The required documents depend on the reason for changing the name on the vehicle title. For example:
- If you bought the car: The original certificate that shows the change of name on the reverse side and the original owner’s signature and reason for transfer.
- If you inherited the car: The legal executor of the will has to provide additional documents that prove that the owner has passed away, and bequeathed the vehicle to you.
- If you got the car as part of a divorce settlement: You will need to submit the divorce degree that specifically states that you were given the vehicle
Application forms for registration transfer can be downloaded from the DMV website, but it’s best to call them to find out what your specific situation requires. In some cases — like when you need to add or remove names from the car title — all parties need to provide their own documents or identification cards.
Apply For Registration Loan
If you are unable to transfer the title to your name, or if the process will take too long and you need to raise cash right away, Southwest Title Loans has another option for you. You can check out our registration loans instead.
Differences Between Title Loans And Registration Loans
Before you can choose between our two loans, you have to know what they are and how they are different. Basically, a title loan uses your vehicle’s lien-free title as collateral, and registration loans use your vehicle’s registration to prove you are the owner of the vehicle.
With either loan, there are certain benefits you get and specific situations that these loans work best in.
What Are The Benefits Of Title Loans?
Unlike bank loans, auto title loans don’t require a high credit score or proof of income and employment. You can apply whether you have good credit or bad credit. Even if you’ve filed for bankruptcy, you can still qualify for loans as long as the bankruptcy has been discharged.
The good thing about title loans in Southwest Title Loans is our short process. You can get the entire thing done in about 30 minutes. You will also find out if you’ve been approved the same day you apply. With a title loan, you can borrow up to $15,000 depending on your vehicle model, how old it is, and the condition that it’s in.
The vehicle’s title has to be under your name and be lien-free. This means that you have no outstanding liens or judgments against it. If you do, you’ll have to have that taken care of before coming here. Title loans are a great option if:
- You are having a hard time getting a personal loan from a bank because you don’t meet their minimum requirements like a high credit score or proof of employment.
- You need money to handle emergencies like medical bills or home repairs quickly.
- You don’t have the time to go through a long and complicated loan process.
What Are The Benefits Of Registration Loans?
Unlike our title loans, you do not have to have your vehicle paid off for registration loans az. This is very beneficial because many of us are still making car payments. We are also not using your title – just your registration for the loan. With this kind of loan you can borrow up to $1,500, and you don’t need to have a vehicle inspection.
Just like with our title loans, you can apply even if you have bad credit. And like our other loan, we here at Southwest Title Loans in Arizona have come up with a quick and convenient process. Registration loans are a good option for you if:
- The car title is not under your name and you don’t have time to wait to get it changed.
- You are still making payments on your vehicle.
- There is an existing lien on the car title.
Get Your Loan Today!
Just go to the Southwest Title Loans website to start the process for title loans in AZ or registration loans, and get the money you need quickly! Follow our guide below for more details:
- Fill out our form for either loan. It takes just a few minutes! The information you give is completely confidential and is only used so that our loan representatives can contact you and provide you with more accurate quotes or personalized service.
- One of our loan representatives will call you, and explain more about the loan you want to apply for. Feel free to ask questions — we are here to help.
- If you are applying for title loans, you will be asked to go to your preferred branch for the vehicle inspection. Remember to bring your vehicle, the title with your name on it, and a government-issued ID. The process takes less than 30 minutes, and if you are approved you could get the money possibly on the same day.
- If you are applying for registration loans, the loan representative will assess your information to determine if you’re eligible for a registration loan, the loan amount you have been approved for, and the documents you need to present. You will then go to the preferred branch to complete the process, and get the money possibly on the same day!
Don’t Struggle With Emergencies Alone In Arizona
If you have an emergency, there is no need to handle it alone in Arizona. Check out our title loans and registration loans at Southwest Title Loans, today! Reach out to Southwest Title Loans to find out more about car title loans and registration loans. Fill out our online title loan form when you decide which loan you want.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.