In a Nutshell
You cannot get same-day loans without an ID. All lenders must verify your identity with a government-issued ID; it’s the law. However, if you don’t have a driver’s license, there are options to use other state-issued IDs, such as a state ID, passport, military ID, FOID card, or permanent resident card. To get a same-day title loan, you must also provide proof of consistent income, ownership of a lien-free vehicle, proof of insurance, and residence. If you need money fast, contact us to determine if a title loan is the best option.
If you have a financial emergency but don’t have a driver’s license, you may wonder if you can get same-day loans without ID, such as payday loans or installment loans for fast cash.
Unfortunately, you can’t.
Lenders must require a valid government-issued ID before they can fund a loan including payday and personal loans. While you may be able to apply without an ID upfront, the lender will ask for proof of identification at some point throughout the application process and before they can direct deposit the funds into your account or issue a check.
But there’s good news.
Same-day title loans may help in true emergencies, providing funds the same day in some cases. Many lenders also have flexible identification requirements, which means a driver’s license isn’t the only option. However, some type of government-issued ID is mandatory before any lender can fund installment loans.
How to Get Title Loans Without a Driver’s License
If you need emergency funds for a dire financial situation, cash loans, such as title loans, may help. However, you’ll need some form of official ID to get a title loan.
If you don’t have a driver’s license, you may be able to get funded with another government-issued ID, such as:
- State ID
- Passport
- Military ID
- FOID card
- Permanent residence card (green card)
These are the most common alternatives that most lenders offering short-term loans allow to verify your identity. Remember, you must also verify your residence, income, and proof of vehicle ownership to get a title loan.
Steps to Get Title Loans Without a Driver’s License
After locating an alternative form of identification to get cash loans, like a title loan, here are the steps to apply.
1. Determine if a Title Loan is Right for You
Title loans are meant only for emergencies. They often have high-interest rates and fees, so ensure it’s the right option before applying. Ensure you own a vehicle lien-free and can prove you have the income to afford the loan amount you must borrow.
2. Find a Title Loan Lender That Takes Other Forms of ID
Most title loan lenders require some form of ID but won’t turn you away if you don’t have a driver’s license. If you have a valid government-issued picture ID that isn’t expired, most lenders can accept it for cash title loans.
3. Complete the Loan Application
Online lenders often have a loan application you can complete within a few minutes and have an answer instantly. You’ll answer questions about your residence, income, and vehicle to determine if you qualify for a title loan for the requested loan amount.
If you are approved, you’ll receive your loan options, sometimes multiple, depending on your qualifying factors. You can select the loan terms that suit your needs the most.
4. Upload the Necessary Documents
If you choose to move forward with a title loan, you must upload the necessary documentation, including proper identification, to complete the loan process and get final approval.
5. Sign the Loan Agreement
The lender will issue the loan contract or agreement after finalizing the approval process and ensuring you have the proper identification to fund the loan. You must sign the agreement to receive your funds.
6. Receive Your Funds
The last step is to receive your funds, which, depending on the lender, can sometimes be the same day as long as you have a valid photo ID issued by the government.
What Other Documents Do You Need for a Same-Day Title Loan?
Identification is a crucial part of the title loan approval process, but there are other required documents to get approved. While title loan lenders do a quick credit check, they don’t base your approval on your credit history or scores. Instead, they rely on the following documents to decide, even if you have bad credit.
Proof of Income
Employment income isn’t the only way to qualify for title loans. Title loan lenders often accept other forms of income, including retirement, disability, unemployment, and passive income. Providing proof of income may be as simple as a W-2, tax returns, or bank statements.
Proof of Residence
You must prove you reside in the state where you’re applying for the title loan with a valid ID or other forms, such as mortgage or bank statements.
Proof of Insurance (in some states)
Some states require proof of adequate auto insurance to secure a title loan.
Pictures of the Vehicle
Title loans use your vehicle as collateral. They require pictures of the vehicle to determine its value and ensure it’s worth enough to fund your loan.
The Car Title
Title loan lenders keep the car title until you pay the loan in full. They’ll instruct you on how to send the vehicle title in to have your loan funded.
Alternatives to Same-Day Loans
All loans require valid identification to receive the funds, but here are some alternatives to consider before borrowing a title loan when you have unexpected expenses.
Payday Loans
Payday loans are loans that cover you between paydays. Most payday loans are for $500 or less, and you must repay the full amount borrowed on your next payday. Each state has different laws regarding the interest rates lenders can charge on payday loans, but expect to pay $10 to $30 for every $100 you borrow.
Personal Loans
Personal loans are often unsecured loans. This means they don’t require collateral. Most lenders and banks require a good credit score and only allow employment income to qualify. You pay equal monthly installments on a repayment schedule when you borrow money as a personal loan.
Final Thoughts
Financial emergencies are scary, especially when you don’t have a current driver’s license to prove your identity for a short-term loan. All lenders, whether direct lenders, banks, payday companies, or title loan lenders, require valid identification. However, other forms of government-issued IDs may suffice for loans like title, personal, or payday loans.
Knowing your options to avoid the driver’s license requirement is crucial to getting the money in your bank account that you need to fund your emergency.
Bad credit borrowers with a valid government-issued ID may consider a title loan versus a payday loan. Contact our company today to learn how a title loan may help despite the borrower’s credit history.
Written by
Samantha Hawrylack
Samantha Hawrylack writes for our company and is an expert in personal finance. Sam received her Bachelors of Science in Finance and her Masters in Business Administration from West Chester University of Pennsylvania. She began her career in the financial services industry and shifted to an entrepreneurial role where she could directly impact clients. Sam has an impressive background in personal finance and business management.