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Home > What Do You Need for a Title Loan?

What Do You Need for a Title Loan?

How much cash can i get

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A car title loan allows you to access the equity from your car while driving it for the duration of the loan. While it should only be used in financial emergencies, it can be a good way to get cash quickly.

What Do I Need for a Title Loan?

When inquiring about title loans, one of the first questions people always ask is what do I need for a title loan? And the great thing about this type of loan is that you actually don’t need too many documents! In comparison with traditional bank loans, the title loan process usually requires much less paperwork and hassle. Many borrowers find this ideal since the last thing you want to do when in financial trouble is have to go through a long and difficult process to simply get some cash.

To Qualify for a Car Title Loan, You Must:

  • Prove you can repay the loan – Employment income is not required. The lender’s main focus is that you can cover your payments. Any form of reliable income can count including disability benefits and severance pay. Proof of that income can come in many forms including pay stubs, disability, W-2s, Social Security benefits, and more. 
  • Government-issued photo identification – Acceptable forms include one’s driver’s license, military ID, Passport, state-issued photo identification card, and more.
  • Vehicle title – You must have a lien-free title with your name on it to prove that you own the vehicle. Only vehicles in your ownership are eligible for a title loan. Without it, the vehicle is not considered yours in the eyes of the law. 
  • Adequate vehicle equity – The difference between what your car is worth and what you owe should be enough to provide collateral for the loan.
  • Other documents– Your state may have additional vehicle title loan requirements. Check them out here.  

Let’s investigate more below!

Lender tip:

If approved, Montana Capital may fund up to 70% of your car’s value, between $2,600 and $20,000. However, title loans should only be used in the event of an emergency due to the high fees associated with this type of financing. Failure to repay your loan can result in you losing your vehicle.

Required Car Title Loan Documents

To apply for a car title loan with Montana Capital, you must provide specific documents relating to your income, identity, and, most importantly, the car title whose equity you wish to borrow from.

Lender requirements vary, but here are the most commonly required documents.

Government-Issued ID

A valid government-issued ID is necessary to prove your identity. The lender must ensure you are who you say you are to prevent fraudulent activity.

Proof of Residency

Proof of residency is necessary to prove you live in the state you’re applying. Each state has different car title loan laws, so you must reside in the state where you apply.

Current Car Title

The car title is the most important factor in the application process. It must be a lien-free car title in your name. This is what the lender takes possession of in exchange for the loan, giving the lender rights to the car if you default.

Car Registration

You must prove vehicle ownership with your name on the registration.

Current Vehicle Photos

Photos of the car’s interior and exterior, the VIN, and the odometer reading, help the lender determine the car’s value.

Contact Information

Lenders need your contact information to discuss your application and any outstanding documents needed to complete the process.

Banking Information

If you want the cash deposited into your bank account via direct deposit, you must provide your banking information. It won’t affect your approval if you don’t have a bank account. In fact, you don’t need a bank account at all to receive payment. Other payout options include picking up a check at a Montana Capital Branch or visiting a Moneygram location at your local Walmart.

Vehicle Details

The vehicle details help lenders determine the car’s value and how much you can borrow.

Qualifying for a Title Loan:

Vehicle title loans are simple. The main qualifying factors are your ability to repay the loan and the equity in your vehicle. That means you need to prove you have enough income to make your monthly payments and that your vehicle’s market value is enough to protect the lender in case you default on the loan. If your vehicle’s market value is not high enough, the lender may see you as too much of a risk and deny your application.  

If your vehicle (car, RV, commercial vehicle, classic car, or power sport) can meet these title loan requirements, you are likely to be eligible for a loan.

Ability to Repay

You must have proof of income. This doesn’t mean you must be employed. You may get approved with other proof of income, such as disability, Social Security, worker’s comp, investment income, or unemployment benefits.

Notice we didn’t say we need proof of employment? We just need proof that you have a steady income to repay the loan.

Vehicle Value

The vehicle value is one of the most important factors when qualifying for a title loan. The vehicle is the loan’s collateral and is how we determine how much you can borrow while still driving your car.

You can use sources like Kelley Blue Book or Edmund’s to get an idea of your car’s value, but we’ll need proof of the car’s make, model, and condition with accurate pictures.

Credit Score

At Montana Capital Car Title Loans, we don’t require a good credit score. A credit check is a part of the process, but we focus on other determining factors like the vehicle’s value and your ability to repay your car title loan.

Title in Your Name

Your name must be listed on the vehicle’s title as an owner to get a car title loan. This makes you eligible to use the vehicle as collateral which is necessary for a title loan. Being on the car title with someone else could affect how you apply for the loan.

If you hold the title to the car with someone else and it’s listed with an ‘or’ between your names, you can apply for a car title loan yourself. However, if an ‘and’ exists between your names, both parties must apply for the title loan together.

Serving You Across The US

Montana Capital Car Title Loans serves applicants from more than 30 States! By connecting with a trusted lender, we help people apply for a title loan safely and quickly. Call us now or apply online and let our support team guide you.

Evaluating Your Vehicle’s Value

In addition to your ability to repay the loan, lenders will use the value of your vehicle to determine how much money you can receive if approved. At Montana Capital, most borrowers are eligible for a loan of up to 70% of the car’s value, but it depends on how much you can afford to repay.

With online title loans, evaluating your vehicle’s value is easy. You upload photos of your car in lieu of an in-person inspection. This saves time and the hassle of getting your car inspected, plus you get a free quote.

Finding the right lender for you is important. Consider the following before making a decision:

  • Shop around and compare title loan offers and terms
  • Carefully review and understand interest rates and fees

Use a title loan calculator to calculate monthly payments

While borrowing money is the first step, paying it back is the second. Therefore, understanding the terms and how to repay the loan is important.

  • Loan terms – A title loan is a short-term loan, usually no more than 36 months. You will be given a monthly payment and interest rate that will need to be made for the duration of the loan. These can be made by cash using PayNearMe, check, or debit/credit over the phone. Before accepting a title loan, ensure you can afford the payment.
  • Interest Rates and Fees – Auto title loans have high-interest rates. On average, borrowers can expect a three figure APR. You pay interest on title loans until you pay the balance in full.
  • Early repayment – Making your monthly payments on time is important, but with Montana Capital, you have the option to pay off the loan early with no prepayment penalty. You can make extra payments and pay the loan off early to save money on interest.
  • Flexible underwriting – Your ability to repay the loan and your car’s value are the primary eligibility factors.
  • Credit friendly – Car title loans don’t have a specific credit score requirement.
  • Keep driving your car – You keep your vehicle and can use it while you repay the loan.

Like any loan, there are risks to using your vehicle as collateral for a loan. Here are the risks to consider.

  • High-interest rates – Loans against car titles have interest rates more than 100 times the rates charged on bank loans.
  • Risk losing your car – If you can’t make your payments, you risk losing your car since it’s collateral for the loan.
  • Dig deeper into debt – If you use a car title loan to handle a financial emergency, you could create a vicious cycle of never having enough money to make ends meet.

Title Loan Process With Montana Capital

The title loan process takes a short time at Montana Capital. Here’s what to expect:

Online Application

Complete a loan application online or speak with a representative at 1-800-700-8900


Provide your documentation, including proof of income, and pictures of your car

Review and Sign

Review and sign the contractual agreement if you choose to move forward with the loan

Get Your Money

Address your financial emergency and keep driving your car while making payments

Beware Title Lenders With Minimal Requirements

While it’s a borrower’s dream to find a car title loan lender with simple and attainable requirements, beware of lenders that are too good to be true. Be careful if you see a loan advertised with the following:

  • Guaranteed approval – Lenders typically check a borrower’s ability to repay, income, and credit. Those who don’t may be predatory.
  • High-interest rates – If a lender does not check a borrower’s income or credit, they may require a higher APR.
  • Excessive additions – Unnecessary add-ons are often a tactic to increase your monthly payments. Ensure you are only paying for what you need. 
  • Unethical tactics – Watch out for the classic bait-and-switch sales tactic. Some lenders reel you in with spectacular interest rates and then flip the script when providing an offer.


Every state has its own laws regarding the legality of title lending. It is legal in some states but illegal in others. Check out if title loans are available in your state here!

There is a simple fix if you notice incorrect information on your vehicle’s title. Take your title to your local DMV with proof regarding the incorrect information. Explain the mistake and the DMV can provide you with the correct form to complete to fix the error. 

Each state’s process may vary. Check out your state for your DMV’s official process here.

Auto Title Loan Requirements- Summary

The title loan requirements are simple compared to your average bank loan and, when followed, make it easy to get cash fast. There are basic criteria that must be met to qualify, however, including:

  • Owning your vehicle outright
  • Having proof of income
  • Providing pictures to prove its value

After getting approved for a title loan, you may get your funds in as little as one business day, and in some cases as little as 5 hours if you provide all of the required documents and sign your loan agreement before 2:00 PM your lender’s local time. This makes it simple and easy to satisfy your financial emergency. Check out our comprehensive FAQ page for any questions or concerns. If you still have questions or contact one of our representatives by phone at 1-888-700-8900. We are always happy to assist you!

Written by

Samantha Hawrylack

Samantha Hawrylack is a writer for Montana Capital Car Title Loans and a personal finance expert. 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.

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