5 Tips For Getting A Title Loan For Unemployed Person
April 15, 2021 | June Mckaig
If you’ve been hit by an unexpected expense, then you might want to get a title loan to deal with it quickly and painlessly. But how do you get a title loan for unemployed person?
Surprisingly, it’s not that hard to get a title loan for unemployed person as long as you satisfy a number of other requirements Southwest Title Loans has.
Luckily, it’s much easier to get a title loan than a traditional bank loan due to the lenders’ flexible qualifying requirements and the same qualifying requirements make it possible to get a title loan for unemployed person. Here are some tips for you to make the entire process easier.
As mentioned above, title loans usually come with flexible qualifying requirements; but there are certain requirements that even our friendly loan representatives at Southwest Title Loans won’t be able to bend for you. Don’t worry, income isn’t one of them – getting a loan for unemployed person is not impossible if they satisfy other requirements.
To get a title loan with us, you’ll need:
- To be over 18 and able to prove it. We will not be able to approve a minor’s application, so you’ll need to provide them with either a driver’s license or a valid state-issued ID proving your age;
- Your car for a quick inspection. This inspection allows us to determine how much you could qualify for if you get approved;
- The car’s lien-free title in your name. This means there are no outstanding liens or judgments against it.
Tip 1: Have Your Car In Decent Condition
As I mentioned, the state of your car will determine how much cash you could qualify for. This means you’ll want to make sure your car is in decent condition. We will take things like the condition of the interior, the resale value right now, and the overall look and condition of your car into consideration.
As long as you have a plan in place to repay the loan, your income source is of little importance. If you don’t have an active income source, the state of your car is even more important since its role as loan collateral will become even more important.
Tip 2: Do Some Research Before Applying
Before you apply for a title loan, do some research about getting a loan for unemployed person. There are plenty of sources out there – both from our website and personal accounts from the borrowers – that will provide you with details about how such loans work.
These sources will also help you plan the loan payoff scenarios in advance and cover your bases if anything goes wrong. Plus our loan representatives are very knowledgeable and willing to answer any of your questions – regardless of where you are in the process.
Tip 3: Ask The Loan Representative About Your Options
Don’t be shy to ask the loan representative you’ll be working with for help! As I said, our representatives are there to ensure the application process is successful – they want to put the cash in your hands. And you likely aren’t the first unemployed client they’ve had to help get approved for the loan.
Many potential borrowers seem to feel ashamed about relaying information about their unemployment to the loan representatives and delay it to the final moment.
Don’t do this. Being upfront about the situation will make the entire application procedure much easier for both of us – since you’ll get the information you need much sooner and we’ll know exactly what you’re looking for so we can adjust accordingly.
The loan representative will provide you with possible options you could utilize to pay off the loan in the long run and help you choose the most reliable one if you find out you have several choices to work with. This cannot be emphasized enough – ask the loan representative about things you want to know!
Tip 4: Have Proof You’ll Be Able To Pay The Loan Off Eventually
Provide bank transfers or other proof as per the representative’s request that you can pay the loan off despite being unemployed. The incomplete list of what could be used for the payoff is as follows:
- Unemployment benefits;
- Welfare checks;
- Worker’s compensation;
- Alimony and/or court settlement payments;
While the majority of these will render you unable to get a bank loan, you’re very likely to get approved for a title loan if you provide proof of either.
Unlike banks, we have flexible approval requirements, which makes title loans much more accessible for people – unemployed ones among them! So it isn’t impossible to get loans for unemployed person at all!
Go Through Our Simple Title Loans Process
The easiest way to get a title loan is to apply for one starting online! The process is simple, straightforward, and – as long as you’ve got all the required items – fast!
First, go to the Southwest Title Loans homepage to fill out and submit the online form. The form will get processed in a matter of minutes and the information will be digitally sent to your preferred title loans location.
Second, do answer when the loan representative calls you. They’ll provide you with further information about the loan process and set up an appointment for you. This is when you should relay your circumstances to them and ask about your options.
Last but not least, go to the appointment you’ll schedule with the loan representative and bring the required items with you. The loan representative will assess everything and determine if you qualify for the loan despite being unemployed.
If you’re approved, you’ll finish the easy paperwork and get the cash the very same day! No more do you have to worry you won’t be able to find loans for unemployed person.