Can I Get Title Loans In Missouri With Unemployment Benefits?

If you've lost your job, you might think that there aren't loans for unemployed individuals that can help you out. However, there are ways you can go about borrowing with unemployment benefits. In fact, you can come to Missouri Title Loans, Inc. and get a title loan if you need financial help for the unemployed. Keep reading this article to learn more about this loan and how you can get one now!

What Is A Title Loan And What Do You Need To Be Eligible?

A title loan is a short-term loan that uses your vehicle's lien-free title as collateral. The reason you can consider this option when you are looking to borrowing with unemployment is because we don't look at your income to get you approved. This means you can use your unemployment benefits to pay for your title loan.

And when it comes to us at Missouri Title Loans, Inc., you can get up to $15,000 if approved. That amount of money can be vital to help you get through unexpected emergency expenses like medical bills or an immediate home repair. And finding out if you are eligible is easy. In fact, here are the items you need to find out if you are eligible for approval.

Your Car's Title

The first thing you need to be eligible should come as no surprise. You'll need your car's title to use as the collateral. But before you come in with just any title, you need to be aware of some things first. You need to make sure your title is in fact yours. If your name doesn't appear on the title, the car isn't legally yours yet. This means you will need to have this taken care of before you come see us. 

Another important thing you need to pay attention to is whether or not you have any outstanding liens or loans on your title. In order for you to use the vehicle title as collateral, it must be free of any liens. If there are current unpaid loans on your title, we won't be able to put a lien on it for this loan. You'll have to go to the DMV and handle this before you come see us.

Finally, make sure your title is to a car, pickup truck, minivan, or SUV. These are the vehicles we accept for this loan. If you try to use any other vehicle like a motorcycle or a trailer, we won't allow you to get financial help for the unemployed through this loan. So make sure the title you are using is for a vehicle we will accept beforehand.

Your Car

The next thing you'll need is your car. While we are only holding onto your car's title while you repay the loan, that doesn't mean we never have to see your car. In fact, in order for us to determine how much we could lend to you, we need to inspect your vehicle beforehand. This inspection allows us to know the current condition your car is in and it's resale value. 

We also recommend you get your vehicle maintenanced before you come see us to make sure it is in good condition. To help you out, we are looking at anything that could impact the way your car works. Keep in mind we also take into account the vehicle's age, make, and model. But you can still take care of any dents, scratches, or issues before to increase your vehicle's value.

unemployed woman needs money

Your Driver's License Or State-Issued Photo ID

The last item you need is your driver's license or state-issued photo ID. We use this to confirm your identity and to verify that you are at least 18 years old. If you are a minor, we can't legally allow you to sign off on this loan - even if you happen to have the other items ready to go. You must be of legal age in order for us to begin to do business with you.

What Is The Process Of Getting Loans For Unemployed Individuals?

Now that you know why this is a good option if you need loans for unemployed individuals and how to be eligible, you can learn the process! The good thing is, our process is simple and quick for anyone to get through. In fact, all you have to do is follow a few steps and you will learn if you are approved for this title loan. Here are the steps you'll follow:

  1. Fill out the online application for title loans found on our website. This will send your information to the nearest store location where one of our representatives will give you a call. During the call, they will go over the required items, answer your questions, and set up your vehicle inspection.
  2. Once you are off the phone, you can gather your required items and head over to the inspection. One thing to know about this meeting is, you are allowed to choose where it takes place. This means you never have to step foot into one of our stores if you don't want to. Just let us know where you'd like to meet when we call.
  3. When you arrive to the meeting location, allow our representative to assess your items and inspect your vehicle. Not long after you've arrived will they be able to tell you if you are approved and how much we can lend to you. It shouldn't take long for them to determine this.
  4. If you agree with the loan amount, they will then sit you down and go over our loan terms. Once you understand everything, you can sign the loan agreement and drive away. You will get your money either later that same day or the next bank business day at the latest. 

Missouri title loan cash

Looking For Financial Help For The Unemployed? Get A Title Loan Right Now!

By now, you should know that when you financial help for an emergency, you can look to us for our car title loan. We make sure you can find out quickly if you can get the money you need. So whether or not you are without a job, you can still get loans for unemployed individuals. Don't wait any longer and get started by filling out our online loan application right now.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Mason Roberts

Mason Roberts is a seasoned economics writer and blogger with a knack for breaking down and simply communicating the ever-changing world of finance. He is philosophically committed to the premise that financial knowledge equals financial freedom.