How Can I Get A Loan Before Starting My New Job?

January 18, 2022 | June Mckaig

how to get a loan before starting job

At first, it might seem like you can’t get a loan before starting job. But while it's true that many traditional loans and banks require you to prove your income, you'll be pleased to know that you can actually acquire a Wisconsin title loan before starting job without providing proof of employment, as long as you own a car, a truck, or a van.

This guide aims to show you the process of acquiring a car title loan before you get a job and explain the steps you should take.

What Do I Need To Get A Title Loan Before Starting Job?

Amazingly, you can get a title loan before starting job. You simply need to have the right documents and items with you. Generally speaking, traditional lending institutes such as banks will require proof of employment. However, a lender such as Wisconsin Auto Title Loans, Inc. understands that you still have bills to pay whether you're employed or not. So, we don’t require proof of your income to approve you for our title loans. Instead, you just need three items:

  • A driver's license or another type of state-issued identification.
  • Your vehicle for inspection.
  • Your lien-free title to your vehicle.

With the items above, you can borrow up to $15,000 before starting your new job. However, the specific amount you can qualify for depends on the value of your vehicle.

the title loan process

How Can I Get A Title Loan Before Starting Job?

Before you decide to pursue a title loan from Wisconsin Auto Title Loans, Inc., consider whether you need one. If you have the ability to wait until you get the money together through work or some other means, a title loan may not be necessary. Title loans are designed to be used for emergencies and urgent expenses, not to solve longer-term financial issues or to be spent on wants. 

With that being said, once you know decide that you have a need for a title loan, you’ll find that the steps to acquire one are very simple and easy:

  1. Fill out the online title loan form.
  2. Receive a phone call from one of our loan experts. They will tell you about the process and ensure you have the required documents. Plus, they'll confirm whether you'd like to meet at the nearest Wisconsin Auto Title Loans, Inc. store or a location of your choice, including your home.
  3. No matter where you decide to meet, make sure to have your driver's license, lien-free vehicle title, and your vehicle for inspection. It's worth noting that you can also use other government-issued photo ID forms like a passport or a military card.
  4. Sit down with our loan representative who will examine your vehicle to determine its value and your documents to figure out whether you qualify for approval.
  5. If you are eligible, you can complete some simple paperwork and receive the money on the same day or the very next business day.

How Do We Value Your Car, Van, Or Truck

The way we decide how much you can borrow is determined by considering the factors below:

  • The make and model of your car — Some cars command a high value as they're considered luxury vehicles (think BMW, Infiniti, Lexus, and Range Rover). They tend to hold their value better than other automobiles. If you own one of these cars with decent mileage, you can typically borrow more money.
  • The condition of your vehicle — Keeping your car in good shape helps retain its value over the years. If you aren't keeping up with your oil changes, tire rotations, and services, you risk prematurely decreasing the value of your vehicle. Likewise, the cosmetic condition can damage its worth. Depending on the severity, dents, scrapes, scratches, dings, and stained interiors lower the value.
  • The age of your car — Each year, manufacturers release upgraded vehicle models that consequently decrease the price of the previous year's automobiles. Carfax stated that a new vehicle loses around 60% of its value throughout the first five years of its life. But keep in mind that age is only one factor in the calculation. After all, an older car with low mileage and in excellent condition could still be worth more than a newer model with high mileage. 
  • The vehicle's odometer reading — Higher mileage is a tell-tale sign of wear and tear. If you've ever bought a used vehicle, you probably noticed that those with lower mileage were priced higher than others. As soon as the odometer reaches 120,000, owners typically need to invest more into their car, decreasing its overall worth.
  • Any customizations you've made to the vehicle — Sadly, not everybody sees value in spoilers and decals. They could impact your ability to get a higher loan amount. On the other hand, if you've put a new engine in an older chassis, the value may increase.

qualifying for title loans

Submit Your Title Loan Inquiry Today!

Getting a Wisconsin auto title loan before starting job is quite possible when you submit an inquiry for a title loan through Wisconsin Auto Title Loans, Inc. If you have everything you need to get a title loan today, begin your process by filling out and submitting the online form today.