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Is It Possible to Get a Title Loan Without a Social Security Number?
A Social Security Number is used by the United States government to identify workers within the country. This was the intention and primary purpose of the number, and that is still true today! Typically, evey Social Security Number is nine digits long and unique to the individual that has it. That is why these numbers are so important and should not be shared. It is easy to steal someone’s identity with them. However, not everyone has a SSN, and that could be for many different reasons. So if you find yourself in money troubles, that can be a difficult obstacle to face.
If you don’t have a Social Security Number (SSN), you might wonder if it’s possible to borrow money through a loan. Since most lenders ask borrowers to provide their SSNs during the loan process, it’s understandable to worry. Thankfully, an option may be available for anyone looking to borrow a title loan without a Social Security Number.
With a car title loan, you could get the funds you need for an emergency without an SSN! While you may think it is impossible, there are certain circumstances that can allow for it. Read below for more information, or contact a title loan lender for more details.
Can I Use an ITIN to get a Car Title Loan Instead of a Social Security Number?
Borrowers that have an Individual Taxpayer Identification Number(ITIN) might still be able to get title loans! An ITIN allows people without a Social Security Number to file taxes within the United States. More specifically, if you’re required to pay income taxes but are not a U.S. citizen or a legal permanent resident, you may be issued an ITIN by the Internal Revenue Service.
So that means you could use an ITIN for almost the same reasons as a Social Security Number- including getting a title loan!
How Does Getting an Auto Title Loan Without a Social Security Number Work?
While some title loan lenders will still require an SSN, other providers take a more flexible approach to the inquiry process. For example, a car title loan can be a good option for those without a Social Security Number, as lenders are often more accepting of alternative forms of documentation. Through this loan type, you could use your vehicle title as collateral to secure money.
Since you use collateral to secure the cash, your credit score isn’t the main factor during the approval process; that means borrowers with less-than-perfect credit may still get emergency cash. Even if you have experienced past bankruptcy, you may still qualify for the funds you need through a title loan.
Once you’re approved for a loan, a title loan lender will place a lien on your car title. Keep in mind that you’d still be able to keep and drive your vehicle as you’re making payments. As soon as you complete your monthly installments, the lender will remove the lien. Also, it’s essential to note how vital your ability to repay an auto title loan is during the approval process. But don’t worry about needing a traditional 9-5 job for this requirement; you could always use an alternative form of income to prove your ability to repay the loan.
One last thing to be aware of is that you must present other identifying documents. But don’t stress! You would only need to provide the following information:
- The Title to Your Vehicle- Make sure the car title is in your name!
- Proof of Income- Borrowers could pay stubs, pension income, worker’s compensation, or bank statements to prove they can afford a loan.
- Proof of Address- Recent mail, utility bills, or rental/lease agreements are acceptable
- Recent Pictures of Your Car- The photos must show the vehicle’s front, back, driver’s side door, passenger-side door, odometer reading, and Vehicle Identification Number(VIN #)
- Proof of Government-Issued Identification- You can prove your identity using your driver’s license, passport, or other certified state identification cards.
- Some References- These can either be personal, professional, or both.
The whole title loan process could be simple to finish. Contact your title loan lender if you need assistance.
What Do I Need to Apply for an Auto Title Loan Without a Social Security Number?
While an ITIN is used in a SSN’s place if you do not have one at the time of inquiry, there are other things you will need to submit if you are applying for a car title loan online. While this can sound like a bit of a hassle, with most title loan applications, you can submit the required documents online during your inquiry!
The types of documents you will need to submit usually varies based on your state, but you can expect to need:
- Proof of Income or Ability to Repay the Loan
- Government or State Issued Photo ID Card
- Recent Photos of the Vehicle
- A Car Title to a Qualifying Vehicle in Your Name
- Proof of Residence in Your State
How Can I Get a Title Loan Without a Social Security Number?
No matter which title loan provider you choose, the approval could be simple to get through. Many lenders opt to do things in person, but some options, like a title loan serviced by LoanMart, could give you an alternative. Simply go online to inquire about a car title loan within minutes before you find out if you qualify for the funds you need. Just follow these three steps to complete the loan application:
- Begin Your Title Loan Inquiry Online By Filling Out a Preapproval Form or Over the Phone at 855-422-7412
- Submit the Required Documentation
- If You Receive Approval, You Could Collect Your Cash!
Contact a title loan agent from LoanMart for more details.
But even if you choose another title loan option, you could still get the money you need without a Social Security Number! Remember to have your ITIN and vehicle title handy to get a title loan in no time!