Can I have a cosigner to get a title loan?

You can have a cosigner if needed for a title loan with Capital Title, although it is not always required. Often customers need a cosigner when there are two owners on the title, in need of supplemental income, help proving residency or shared responsibility in repayment of the title loan. Your cosigner does not have to be a registered owner of the vehicle, or even live with you for some instances.

When a title is joined by the word “OR” that means one or the other owners can sign use the title as collateral for the title loan without the other person present. If the name is joined by “AND”, that would require you bring that second person with you because they will need sign for the title loan in addition to yourself. Some states do not use either joining words, which would then revert to the rules for using “AND”, meaning both owners will need to be present.

Often when you share occupancy of a home, only one person could be listed on the service bills, lease, or mortgage. In this instance, you can bring a cosigner that resides with you to prove your residency. Your cosigner will also need to bring their ID. You may be required to provide items with your address on them, in addition to the cosigner’s documents, that match their address.

Monthly income is factored to determine the amount of a title loan you qualify for. If you are not able to provide proof of income and are looking for a larger amount than other loan programs can offer, you can bring a cosigner to provide supplemental income.

Sometimes, our applicants like to have a shared responsibility for the repayment of the title loan, and this requires a cosigner. Regardless of the reason, we always encourage our applicates to add both parties to the title loan. This allows for both parties to be recorded on the title loan paperwork and makes it easier for either both to communicate with our company when making payments, paying off the loan or just asking questions about the title loan.

Do you think a cosigner is right for you? Are you not sure if you need a cosigner? Call our friendly staff to answer any additional questions you may have about cosigners and the application process at (850) 297-2774