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.
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.