ACE Cash Express notes that applicants for a car title loan do not have to be employed, but should be able to prove a consistent income stream. Applicants who apply for a title loan online are required to provide banking account information to facilitate the transfer of funds if approved for the loan. In-store applicants are not required to have a bank account to apply for a title loan.Know More
TitleMax notes that applicants for a title loan may substitute proof of retirement income, unemployment income or disability payments in lieu of check stubs from a job. Applicants are required to bring the vehicle being used as collateral to a TitleMax store for appraisal. The staff issues the loan in cash upon approval of the loan. Because the loan is issued in cash, applicants may not be required to have a bank account if proof of income can be provided in a way other than displaying copies of bank statements.
The requirements to issue a title loan vary slightly by state, though most states require a lien-free car title, government-issued identification and proof of income to approve a car title loan. ACE Cash Express notes that an applicant for a car title loan should be the only owner listed on the car title.Learn more about Personal Loans
While it is possible to get a payday loan without a bank account, chances are that more information is needed in order for the lender to verify the applicant's income, says HowStuffWorks. The lender may charge higher fees for applicants who do not have bank accounts.Full Answer >
For a borrower to qualify for a subprime loan, a verified income and a down payment of at least 5 percent on the home are required, according to Stephanie Mojica for SFGate. A subprime loan is offered at a higher interest rate to individuals who do not qualify for prime loans.Full Answer >
With a title loan, a borrower gives a lender the title to his vehicle in exchange for a small amount of money for a short period of time. Title loans are often some of the most-expensive loan options, because of the additional fees and high interest rates.Full Answer >
Getting a payday loan without a bank account typically requires an application, proof of income and additional fees, according to HowStuffWorks. Not all payday lenders lend to customers without a bank account, so customers without one are advised to contact lenders in the area to ask about the policy.Full Answer >