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What Are Ways To Get A Loan With A New Job?

March 25, 2022 | Emma Frost

loan with new job

 

It can be difficult to be approved for a loan if you have recently started a new job. You might not have the pay stub just yet to qualify for loans that require employment. However, there are ways that you can get a loan with new job. So if you need help with emergency expenses and are looking into getting loans, here are three ways to get a loan when you have a new job.

3 Ways To Get A Loan With New Job

1. Use Yor Job Letters

Some lenders will allow you to apply for loans using your job letters. By job letters, we mean the offer letter and your acceptance letter. If you can prove that you are in the same industry as before, that will be even better for your chances of using the letter.

These letters will help prove that you have a secured source of income, even if you haven’t started the position yet. Not all lenders will accept your job letters as proof. Even so, it doesn’t hurt to ask to see if they will consider that as a form of security.

2. Apply For Secured Loans

Another way that you can get a loan with new job is to apply for secured loans. Secured loans are loans that utilize some form of collateral. This collateral will replace the need for proof of income so that you do not need a pay stub whenever you apply.

A variety of items can be used as collateral. For example, your vehicle’s title, vehicle's registration, and your home can all be used as forms of collateral for secured loans. If you select this option, be careful since you could end up losing the collateral if you fail to make your payments.

3. Apply For Loans That Don’t Require Employment

In addition to secured loans, apply for loans that don’t require employment. Most often, these loans are a form of secured loans, but not always. By applying for loans that don’t require employment, it doesn’t matter if you have a job or if you just started a new one.

Of course, you want to make sure you have a secure way to repay the loan if you aren’t using your employment. One of the more popular loan types that do not require employment is an auto title loan. This loan type also classifies as a secured loan since it uses your vehicle’s title as collateral.

 

auto title loan AZ

 

Title Loans May Be An Option For You

If you are looking to get a loan with new job, a title loan from Southwest Title Loans may be an option for you. Title loans do not require proof of employment, making them an option for individuals who have recently accepted a new position but don’t have the pay stub for other loan types yet.

As a secured loan, a car title loan will use your vehicle’s title as collateral. If approved, a lien will be put against your title while you are paying back the loan. The lien will be removed once you have paid back the loan. During the entire process, you will still be able to drive your car as usual. In order to qualify for a title loan from Southwest Title Loans, you only need the following three items:

  • Driver’s license or state-issued ID.
  • Lien-free title to your vehicle.
  • Your vehicle for inspection.

Of these three requirements, the lien-free title is often the most difficult to understand. A lien-free title is one that has no liens against it. As a result, you own your vehicle outright and are finished paying it off. The lien-free title also needs to be in your name for it to qualify.

The good news is that you do not need a great credit score to apply for an auto title loan with us. Individuals with good credit, bad credit, and no credit are all welcome to come in and check their chances of getting approved. You do not need a checking account either when you come see us for a loan with new job.

How Do I Apply For An Auto Title Loan?

If a title loan sounds like an option for you, you can get started right now by filling out the Southwest Title Loans inquiry form. This inquiry form will match you to the closest storefront location, where you will go over the process with an auto title loan representative. A representative from this location will call you to set up an appointment.

The location of the appointment is up to you. You can either come to one of our Arizona title loan locations, or you can select a different location if that’s more convenient. Either way, you will apply for the loan during this appointment and get your vehicle evaluated to determine how much you can qualify for.

At Southwest Title Loans, the in-person process can take as little as 30 minutes to complete and find out if you’ve been approved. If you are approved, we will go over the loan terms and help you finish the paperwork. Once done, you can get up to $15,000 as soon as the same day or the next business day.

Apply For An Auto Title Loan With New Job Today!

If you are looking to get a loan with new job, any one of the ideas above will help. However, an auto title loan may be the option for you if you have a lien-free title to use as collateral. In that case, get started now by filling out the Southwest Title Loans inquiry form. We look forward to speaking with you and will call you back shortly after you click submit!

 

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

 

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