Key Takeaways
- You can get title loans while unemployed in Missouri as long as you have an alternative income source you can use to prove your income.
- You can use unemployment benefits, pension, SSI/SSDI benefits, alimony, or freelance income to prove your income and qualify for title loans in Missouri.
- Missouri borrowers need a state-issued photo ID, a lien-free vehicle title, and a vehicle to get approved for car title loans without a job.
- To apply for a Missouri loan, you just have to fill out our online form, discuss the process over the phone, bring your required items to us in person for verification, have your vehicle inspected, and sign the loan agreement.
- You can receive your emergency cash in Missouri the same day or the next business day without needing to give up your car.
If you’re wondering whether you can get a title loan if unemployed in Missouri, you may be facing urgent financial pressure. Missouri title loans are secured by your vehicle title and may consider various forms of income beyond traditional employment.
In this guide from Missouri Title Loans, Inc., we will explain how to get a title loan if unemployed. We will review unemployed loan options for those who have lost their jobs and what income you can use to qualify for emergency cash in Missouri.
Can I Get A Title Loan If I’m Unemployed In Missouri?
Car title loans in Missouri allow you to use your lien-free vehicle title as collateral to borrow fast cash, as long as you own your vehicle outright. This involves fully paying off any liens, debts, or judgments. Car collateral loans let you borrow fast emergency cash in Missouri to handle unexpected costs like medical bills, auto repairs, or travel costs.
If you own your car, truck, or van outright, you have a chance to get approved for title loans while unemployed in Missouri, but you will need alternative income to prove you can afford repayment.
You will need to repay what you borrow, as missing payments can lead to late fees and possibly repossession. It’s vital you can afford to repay your title loans while unemployed; failing to do so can put you in an even tougher financial position. Continue reading to discover some nontraditional income sources you can use to afford title loan repayment.
What Income May Qualify For Missouri Title Loans?
For these financial hardship loans, you will need to prove your income, but you will not need a job. As long as you have money coming in that you can reliably use to repay your loan, you can still get approved without a job.
Here are some alternative income sources you can use for title loan qualification:
- Unemployment benefits – If you lost your job through no fault of your own, you may be eligible for weekly unemployment benefits. These benefits range from $35 to $320 per week, depending on your prior earnings. In Missouri, you can receive unemployment assistance for up to 20 weeks. Learn more about how to qualify at the Missouri unemployment website.
- Pension – If you've retired and receive a recurring pension, you can use it as proof of income. A pension is a set payment from your employer after retirement. The pension amount depends on your length of service and your salary.
- SSI/SSDI – Supplementary Security Income (SSI) and Social Security Disability Insurance (SSDI) provide financial support when a disability prevents you from working. SSI/SSDI benefits replace your regular paycheck, helping those unable to work cover their expenses. Note that SSI payments are only available to individuals aged 65 or older.
- Alimony/child support – If you've recently divorced or separated from your spouse, you might qualify for alimony payments. Alimony is awarded only if you are the lower-earning spouse and a court determines you need support. Moreover, if you have custody of your children and require financial help, you can also receive child support.
- Freelance income – You can take on side gigs to earn extra money while searching for a new full-time job. This additional income demonstrates to a direct lender that you can handle a title loan repayment. Examples of side hustles include delivering groceries through Instacart, driving for Uber or Lyft, completing freelance writing tasks on Upwork or Fiverr, social media management, and more.
Missouri residents who have one of the above-mentioned income sources (or another that's not listed) can still get approved for a title loan. You will need to have documentation proving your nontraditional income. Gather these documents, along with the other requirements, before applying.
Title Loan Requirements In Missouri
Short-term loans in Missouri are available to unemployed borrowers as long as they can verify they have money coming in. Along with your proof of income, you will need three other items to get approved for Missouri title loans.
These allow you to verify that you own your vehicle outright, you’re over 18 years old, and your vehicle has value.
Qualify for vehicle title loans in Missouri with these required items:
- State-issued photo ID – To qualify for loans in Missouri, applicants must be at least 18 years old. Proof of age and identity can be shown with a valid state ID featuring your full name, date of birth, and photograph. Acceptable forms include a driver’s license, passport, Missouri state ID, military ID, or student ID.
- Lien-free vehicle title – To qualify for a Missouri title loan, you need to own your vehicle outright by paying off all liens, debts, or judgments. Your vehicle title must be clear of debts so we can place a lien on it. The title must be in your name and match your ID. If it’s registered in someone else’s name, you need to transfer the title at the DMV before applying.
- Your vehicle for an inspection – To assess your title loan amount, we need to inspect the vehicle linked to your title. The vehicle's value, which depends on factors like age, make, model, condition, mileage, modifications, and service history, will determine the loan amount. We accept only cars, trucks, or vans.
If you have these items, you can get approved for a same-day title loan in Missouri. Gather them before applying and make sure your information matches across them. You can then begin the approval process with our online inquiry form.
How To Qualify For A Title Loan Without A Job
Getting these emergency loans while unemployed in Missouri requires only a few easy steps. You can begin the process at home before finishing up at one of our Missouri store locations in under 30 minutes.
Here is our transparent process for title loan approval:
- Complete our online request form by providing your basic details, such as your name, ZIP code, contact info, and vehicle information
- Speak to us over the phone to discuss how unemployed title loans work
- Visit your nearest Missouri store to qualify in less than 30 minutes
- Have your necessary items verified and your vehicle inspected to determine its value
- If approved, sign the loan agreement to complete the process
- Receive your emergency cash in Missouri later that day or by the next business day
FAQs About Title Loans Without Unemployment
Can I get a title loan with unemployment benefits?
Yes, you can borrow a title loan with unemployment benefits. You will need to provide documents that prove you are currently collecting unemployment. Just keep in mind that you will need to repay the loan, so only borrow what you can afford.
Do I get to keep my car?
You will get to keep your vehicle during the loan repayment period, since we use the car title as collateral. You get to continue driving as you repay the loan.
Can I get a title loan with bad credit?
Title loans are secured with collateral, which makes your credit score less important. You can get approved for title loans with poor credit. That said, we may conduct a soft credit check, and your score could influence the title loan amount.
Apply For A Title Loan With No Job Today – Borrow Up To $15,000 with Alternative Income
Missouri Title Loans, Inc. offers short-term options designed for urgent financial needs. If you’re unemployed and facing unexpected expenses, contact us today to explore your options. We have a fast review process that allows you quick access to short-term financial solutions.
Ready to get emergency funds in Missouri? Apply with our secure online form before visiting us in person to qualify in under 30 minutes.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.
