If you're unemployed and need fast cash, options like title pawns can provide an accessible solution. Unlike traditional loans, title pawns do not require steady income or high credit scores. Here’s a quick guide on how title pawns work, who qualifies, and why they might be the right choice for you.

Top 5 FAQs about Loans for Unemployed Workers

1. How Does a Loan for Unemployed Work?

A title pawn is a secured loan that uses your car title as collateral rather than depending on your income. This structure allows lenders to approve loans even if you're unemployed, as your vehicle ensures repayment. With Alabama Title Loans, Inc., you can qualify based on vehicle ownership, not employment.

2. What Are the Requirements for a Title Pawn?

The qualifying requirements for title pawns are pretty flexible due to the above-mentioned nature of these loans as well as their accessibility. There is, though, a set list of required items that is compulsory for everyone. 

The requirements for a title pawn are straightforward:

• A state-issued photo ID or a driver’s license – according to the regulations, no applicant younger than 18 can qualify for the title pawn. And since no lender is allowed to take you on your word that you’re really of legal age, you’ll need to provide them with a valid state-issued document verifying your identity and age.
• Your vehicle – the vehicle will act as collateral, and its value will determine the loan amount you can qualify for (could be up to $15,000).
• The vehicle’s title – it must be completely lien-free (meaning without any outstanding loans against it), and in your name. Unfortunately, even if you’re the de-facto owner of the car, you won’t be able to use the title if it’s in another person’s name (even with their permission). Title pawns require you to outright own the car. You will need to have the title transferred to your name before you apply if this is the case.

Pro Tip: If your car title isn’t in your name, consider transferring it to simplify the process before applying.

3. How Do I Repay the Loan Without a Steady Income?

Title pawns offer flexibility by accepting various income sources, such as unemployment benefits, pensions, or savings. You can use non-traditional income sources to make payments, so you don’t need a steady paycheck.

4. Can I Apply if My Credit is Poor or Nonexistent?

Yes! Alabama Title Loans, Inc. welcomes all credit backgrounds, including poor or no credit history. This type of pawn loan prioritizes your vehicle’s value over your credit score, so you may qualify regardless of credit.

Note: Alabama Title Loans, Inc. doesn’t report to credit agencies, so taking a title pawn won’t impact your credit score.

5. How Fast Can I Get the Money?

Title pawns with Alabama Title Loans, Inc. are designed to be quick. Once you submit your application, it generally takes about 30 minutes from approval to funding. This makes it a great option if you need cash urgently.

Steps to Secure a Title Pawn with Alabama Title Loans, Inc.

Are all of the required items – the state-issued ID/driver’s license, your vehicle, the vehicle’s lien-free title in your name – ready to go?

If so, getting a title pawn should be easy. You can apply online to save time. All you’ll need are a phone or a laptop and a decent internet connection.

Here’s how it should go:

1. Go to the main title pawns page of our website, find the online form for title pawns, fill it out and submit;
2. When the form gets processed (it shouldn’t take long at all), you’ll get a call from the loan representative with further instructions;
3. The loan representative will schedule a meeting with a verification agent – either at the nearest store location or another convenient location if you don’t wish to visit the store;
4. You’ll take the required items to that meeting for the agent to inspect everything and determine if you qualify for the loan as well as how much you qualify for.
5. If you’re satisfied with the amount and the repayment plan, you’ll be offered to sign a few more papers. After that, you can get your cash.

This entire procedure typically takes less than an hour and you could receive up to $15,000 the very same day you apply.

Get Started with Your Title Pawn Today!

If you're unemployed and facing financial stress, a title pawn could provide the relief you need. Start by submitting a quick online inquiry form on our website, and a representative will contact you soon. Get the cash you need with Alabama Title Loans, Inc.—without the hassle of traditional loans!

To learn more about handling emergency expenses, read our other financial emergency articles.

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