If you are asking, “Can I get a title loan without the title?” the answer is generally no.
A title loan uses a is loans using car title as collateral. That means you usually need a lien-free car title in your name before a title loan can be reviewed.
If you bought a vehicle but never received the title, you may need to resolve the title issue first.
This guide explains why the title matters, what a bonded title is, how Nevada title issues may be handled, and what to review before starting a title loan inquiry with Nevada Title and Payday Loans, Inc.
Quick Answer: Do You Need the Title?
Yes. For a Nevada title loan, you generally need:
- A driver’s license or state-issued photo ID
- A lien-free car title in your name
- Your vehicle for inspection
Without a lien-free title in your name, the vehicle generally cannot be used as collateral for a title loan.
Submitting an inquiry does not guarantee approval, a specific loan amount, specific terms, or funding.
Why a Lien-Free Title Matters
A title loan is secured by a qualifying vehicle title.
A lien-free title generally means:
- The vehicle is fully paid off
- No active lender is listed as the lienholder
- The title is in your name
- The title matches the vehicle being inspected
If the title is missing, still in someone else’s name, or has an active lien, the title issue may need to be resolved before a title loan can be reviewed.
How Can You Get A Car Title For A Vehicle Without One?
To get started with securing a car title loan for a vehicle title, you should visit your local DMV with all the documentation you have from purchasing your vehicle. They will work with you to find the previous owner, who may have a title to sign over to you. If that doesn't work, you can apply for a bonded title in your name. It's a little different in that it has wording that can prohibit a transfer of ownership outside the state but is just as valid as a regular title.
Purchasing A Vehicle Without A Title
Let's start by saying it's not a good idea to purchase a vehicle from an individual who doesn't have the title. It doesn't necessarily mean anything wrong, but it could. Also, there are times when no vehicle title could pose a problem for you.
Generally, when you purchase a vehicle from a private party, they will sign the car title with their name, or names will be printed on the front of the title. Your name will be entered on the back in blue or black ink. This indicates a transfer of title to you, the new owner.
If there is no title to give you, then your proof of ownership is usually just the bill of sale. Sometimes, the bill of sale is simply a written statement by the seller stating they are selling you the vehicle for a stated amount. Both parties will sign the sale bill and take a copy. You must provide this document to the DMV to get a bonded title.
What Is A Bonded Title?
You can apply for a bonded title when a vehicle title is available. A bonding company will issue a surety bond that protects the DMV if another vehicle owner comes back to claim it. The surety bond is like an insurance policy for the DMV.
Typically, the bonded title won't have any claims brought against it. However, there could be a case where someone comes forward to say the vehicle is rightfully theirs even though you have it in your possession. The bonding company will pay the surety bond to the rightful owner if proven accurate. Then, you will be responsible for paying the bonding company.
That's not likely to happen, though, so your bonded title will work for you just like any regular title would.
How To Get A Bonded Title
It's not the most straightforward process to get a bonded title. You can't just walk into your local DMV branch office to apply. A separate office in Carson City handles these requests, so it would be best if you started by calling that office.
You'll need to complete an Affidavit for Bonded Vehicle Title and submit that, along with your ownership documents, to the Title Research Section that handles these situations.
From there, they will research the vehicle's history of ownership. They'll also look for any stolen vehicle reports. If nothing is found, they'll let you know what the bond amount needs to be. You will obtain the bond through the bonding company.
You'll finish a few more steps with the affidavit. Then, after you've submitted all required documentation, including the bond information, the bonded title will be issued to you and delivered through the mail.
You Can Use Your Bonded Title To Get An Emergency Auto Loan
Nevada Title and Payday Loans, Inc. will let you use your bonded title to secure a vehicle title loan should you need some extra cash. If you need to pay unexpected expenses, you can send us an inquiry about getting a title loan.
You can borrow up to $15,000 in Nevada, subject to the value of your car and its condition. We will hold the title to your vehicle as collateral while you repay the loan. Once you've paid it back, we hand your vehicle back to you.
Title loans are good options when extra expenses pop up unexpectedly. You make the equity in your vehicle work for you.
Get A Car Title Loan In Nevada Today!
If you purchased one without a title, you can still get one. A bonded title will allow you to register and borrow money against it if needed. Bonded titles aren't simple or easy to get, but having something showing that you own the vehicle is worth it. A title allows you to register the car, get the necessary insurance, or borrow money against it. It's an essential document to have when you own a vehicle.
If you have a financial emergency, consider getting a car title loan from Nevada Title and Payday Loans, Inc. You can begin the process by filling out the online form today!
Frequently Asked Questions
Can I get a title loan without the title?
Generally, no. A title loan usually requires a lien-free car title in your name because the title is used as collateral.
What is a title loan without title?
A title loan without title usually refers to someone who wants to borrow against a vehicle but does not currently have the title. The title issue usually needs to be resolved first.
What do I need for a Nevada title loan?
You generally need a driver’s license or state-issued photo ID, a lien-free car title in your name, and your vehicle for inspection.
Can I use a bill of sale instead of a title?
A bill of sale may help show a purchase occurred, but it usually does not replace a lien-free title for a title loan review.
What if I bought a car and never received the title?
Start by contacting the seller. If the seller cannot be contacted or will not cooperate, contact the Nevada DMV Title Research Section to ask whether a bonded title may be an option.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.
