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Getting a Title Loan Without a Steady Job

Title Loans in Alabama Allow you to Use the Collateral in Your Vehicle to Get Cash Today

title loans without a steady job

Car title loans are a lifeline for car owners who need an injection of cash immediately. The loan industry chiefly works on a system of collateral—you can get a loan of money if you put up something of value in exchange. The lender is then accepting much less risk, as they know that if you fail to repay your loan, they’ll get the property as compensation. In almost all cases, the collateral you put up is real property, such as a house you own outright. Car title loan lenders like Select Title Loans in Alabama are a niche set that offer you a loan using your car as collateral.

How to Get a Loan Without a Job

Besides the collateral requirement, most lending establishments require some kind of proof you’re able to make the loan repayments. In the overwhelming majority of cases, this is proof of income from your job. Being able to show your employment contract and/or pay stubs is usually enough to satisfy this requirement. But what if you’ve recently lost your job? Traditional lending establishments will not lend you money in this case, even if you have some serious collateral to put down.

Getting a loan without a job requires a more flexible lender like Select Title Loans. Here, proof of income doesn’t need to come from a job. Even without a job, we often have a steady income from other sources. Perhaps you received severance pay or a court settlement payment. You may also have unemployment benefits, welfare, worker’s compensation, or disability payments every month. Others get income from alimony, pensions, retirement income, or rental payments. Investments and inheritance income are also common. Even if you get income from side projects such as selling items online or rideshare driving, it’s enough to prove you have an ongoing income that will cover the loan repayments.

Only flexible loan providers will be willing to use these alternative forms of income to offer you a loan. Banks work on a much stricter set of internal guidelines, and they’re not willing to work outside these rules. Thankfully, there are professional title loan providers in Alabama that can help you out in your time of need.

How to Get a Title Loan Without Any Income

In rare cases, people don’t have any income at all to show. it’s possible to get a title loan on a vehicle even if you don’t have proof of any other income. The lender will accept other forms of collateral such as your vehicle or property as long as you own it outright. You’re putting your car up as collateral for the loan so if you don’t repay the loan promptly you risk losing your vehicle. Responsible lenders will discuss the pros and cons of car title loans with you and outline all the relevant costs.

A situation where a car title loan is a good option even if you don’t have any clear monthly income is when you need emergency money now and you’re sure that you’ll be able to make the repayments on the loan in the near future. If you know you have income coming shortly, then a short-term car title loan can be just the ticket to get you out of a hole. As long as you make the repayments on the loan, you’ll keep your car.

At the bare minimum to get a car title loan, you must be 18 years or older and be able to show the vehicle registration and the title is in your name. You can get a duplicate copy of the title from your relevant Department of Revenue if you don’t have the title at hand. Your car title needs to be free of liens, which means that the car is paid in full and no other loans are outstanding on it.

If you’ve found yourself in a position where you need a significant amount of cash in the short term but you’re being turned away from traditional lenders because you can’t show a solid monthly income, flexible car title loan companies in Alabama can be a good choice. You’re able to leverage the collateral you built up in your vehicle to get a reasonable interest rate while circumventing a lot of the red tape that comes with borrowing money. Get in touch with Select Title Loans to get a full idea of your options so you can make an informed, smart choice. We’ll walk you through the title loan application process, making it quick and easy for you to drive away with your car and your cash!

Contact us online today, or visit us at Select Title Loans in Florence. We’re here to help you get back on your feet.


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1203 N. Wood Ave.
Florence, AL 35630
Phone: (256) 767-2100

Mon – Friday 10AM – 6PM
Saturday 9AM – 2PM