Taking out an auto title loan typically involves demonstrating your ability to repay it. However, it’s worth noting that you can secure a title loan without providing a pay stub.

Lenders don’t necessarily require traditional employment with regular payslips. As long as you can verify a steady income, you might still qualify for a title loan.

Key Takeaways

  • Pay records for an auto title loan don’t strictly mean pay stubs from an employer.
  • You may qualify for a title loan with other forms of income outside of work.
  • Proof of income and the ability to repay are the largest factors in title loan approval

How Title Loans Work

Title loans work by using your car’s title as collateral for a loan. You provide the title loan company with your vehicle’s title, and in return, you receive the money requested. The lender holds onto the title until you’ve made all scheduled payments, ensuring they have security for the loan balance. 

Auto title loans are based on two main factors:

  1. Vehicle equity: A title loan is a secured loan that uses your vehicle as collateral. Having a vehicle without any liens and adequate value is vital. Most lenders allow you to borrow 25% – 50% of the vehicle’s equity.
  2. Income verification: You must prove you have the income to repay the loan according to the loan terms, whether it’s employment income or another type.

What Payment Records Can You Use for a Title Loan?

While you could get a car title loan without pay stubs, you cannot get a title loan without proof of income of some sort. 

Common alternatives for payslips examples include:

  • Bank statements
  • Government-issued letters for benefits, such as Social Security benefits or disability payments
  • Investment account statements
  • Tax returns
  • Worker’s compensation statements
  • Proof of cash settlements

What are The Alternatives to Jobs To Get a Title Loan?

Not everyone with an auto title loan has a job. You may qualify for a title loan in some of the following situations:

  • You’re disabled and receive disability pay from the state or your disability insurance plan
  • You retired and receive regular income from the government or you retirement account
  • You are self-employed and have tax returns to prove the income you receive annually
  • You have passive income from investments that pay you dividends or capital gains

How To Qualify for a Title Loan With No Payslip

Qualified borrowers must have proof of income, but auto title loan lenders also look at other factors to determine if you qualify without a payslip from an employer. Title loan lenders must ensure you have equity in a vehicle you own, and have the right to borrow against it. 

Lenders use the vehicle as collateral, so it’s a major factor in determining eligibility as they can repossess the vehicle if you don’t follow the loan term agreement.

Here’s a closer look at the factors title loan lenders consider:

  • You own an eligible vehicle: You must own a vehicle without any car loans on it; they must be paid in full.
  • You are on the vehicle’s title: Your name must be on the vehicle title with eligibility to borrow against the car’s value.
  • You have proof of residency: You must prove you reside in the state that you’re applying for the title loan.

What Documents Do You Need To Get a Title Loan?

To apply for a title loan, you must provide the auto title loan lender with the following documents:

  • Proof of income: Determine the best form of income verification for the income you earn if you don’t receive pay slips.
  • Original title: You must provide the original title to the title loan lender once the loan is approved.
  • Copy of driver’s license: You must provide a copy of a current driver’s license or state ID to prove your identity.
  • Proof of insurance: Most title loan lenders require proof of adequate car insurance, including collision and comprehensive coverage.
Title Loan With No Payslip

How to Apply for an Auto Title Loan With Alternative Income

Many title loan lenders offer an online application process for car title loans. When you apply online, you provide information about yourself, your income, and your vehicle. It’s important to have proof of income, even if it isn’t a payslip. 

You must prove consistent income that enables you to afford loan repayment. Once you have all the necessary documentation, you can apply for a title loan without proof of income.

Steps to Apply for a Title Loan Without a Paystub

  1. Get pre-approved: To get pre-approved, you can complete a request form online. The pre-approval will state the loan terms, interest rates, and loan amount you can borrow, usually within a few minutes of applying.
  2. Upload documents:  If you accept the loan terms, you upload the necessary documents to complete the title loan process. 
  3. Get funded: You may get same-day approval if you apply early enough and upload the proper documentation. This may allow lenders enough time to fund your loan the same day. If not, you may receive the funds by the next business day.

Benefits of a Title Loan

  • You keep your car while paying off the loan.
  • Title loans don’t require a great credit history.
  • Many title loan lenders fund loans by the next business day.
  • You may qualify for a title loan without a pay stub.

Where To Get a Title Loan With No Paystub

Vehicle title loans are available from many online title loan lenders without standard income proof. Shop around with different lenders when looking for car title loans to ensure you get a loan with rates and terms you can afford. 

The key is to look at the interest rate, fees, and repayment terms. Only accept title loans you know you can repay. Your car is collateral for the loan, so it’s important to only borrow funds against your title in a financial emergency.

You can complete our request form to see if you qualify for a title loan. You can also use our title loan calculator to determine if a title loan payment is something you can comfortably afford.


What Is One Key Difference Between Payday Loans and Title Loans?

One key difference between payday loans and title loans is the presence of collateral. Without collateral, the lender has nothing to sell if you don’t repay the loan. This causes lenders to charge higher interest rates to make up for the risk.

Payday loans are unsecured and typically have exceptionally high interest rates. Title loans, on the other hand, use your vehicle as collateral, resulting in lower interest rates compared to payday loans.

What Are Two Disadvantages of Title Loans?

Title loans have two distinct risks: high interest rates and the risk of repossession. Interest rates typically range from 200 to 300% and since you use your car as collateral, you risk losing it if you don’t make your monthly payments on time.

What Are Three Alternatives Consumers Should Consider Before Using Title Loans?

Before applying for a title loan, consider other less expensive options, including:

Final Thoughts

Obtaining a title loan without a pay stub is indeed feasible. Lenders accept various income sources as proof of the ability to repay the loan. However, we advise considering title loans as a last resort for emergency funding due to their typically high interest rates.

To determine if you qualify for a vehicle title loan without a pay stub, you can complete our request form. It takes only a few minutes to provide the necessary information including your personal identifying information, income, and information about your vehicle. Within minutes, you’ll know how much you can borrow and the loan terms.

If you have any questions or need assistance, please don’t hesitate to contact us. You can reach us online or by phone at 800-700-8900. We’re here to help!

Written by Samantha Hawrylack

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.