Title Pawn Companies and Eligibility

There are many things you can do if you have no money. To make more money, some people work extra hours or take on a side job. When they need it, some people borrow money from family and friends. What should you do if none of these options work? If none of these options are available, or if you don’t have good credit title pawn companies may be an option in this situation.



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A title pawn allows you to borrow money using your vehicle’s title as collateral. You can also use the equity in the vehicle, even if the vehicle is not yet paid for. People often depend on title pawns when they are in urgent need of money.

You may be curious if this is an option for you. The title pawn eligibility criteria are very different from other personal pawn eligibility. This means that you might be eligible for a title pawn even if personal financing options are not available to you.

What is the best way to obtain a title pawn?

Here are some things you need to know:

Title of Your Vehicle

The title to your vehicle, if you are the owner of it, is used as collateral for your title pawn. You must provide this document if you have a hard copy to your lender during your application. If electronic copy the lender can request access. You may still be eligible to receive a title pawn at Capital Title, even though you owe on the vehicle.

Credit Check

While many believe you must consent to a credit review if you wish to borrow money from a title-pawn company, not all title-pawn companies conduct a credit check. Because it secures the tile pawn agreement using your vehicle’s title, a title pawn is also known as a secured financing option. Your eligibility for a title pawn is determined by the vehicle’s value and your ability to repay it. You don’t have a perfect credit score to qualify for a title pawn. You can qualify with any credit rating, whether you are good or poor.

Vehicle Ownership

A title cannot be used as collateral to a title pawn unless the legal owner of that vehicle is present. This means that your name must appear on the vehicle title, vehicle registration, or vehicle title receipt in your name.

Your name should always be listed on the title if you are the sole owner. If you have a share of ownership, your name may be included in the title. To be eligible for a title pawn, you don’t have to own the vehicle alone. Even if your name is on the title, you may still be eligible for a title pawn. It doesn’t matter if other names are on the title. This signifies that you are the legal owner of the vehicle.

Important to remember that there must be at least one person authorized to sign a title pawn authorization if more than one name is on the vehicle. If the names are separated with “or”, then each party does not need to sign or be available to authorize the other for the title pawn.  However, if the word “and” separates the names on the title then all parties will need to be present to sign the agreement.

To qualify for a title pawn, you may not need to own your vehicle in full. Every situation is different, but many people who still make payments on their vehicles can be approved for title Pawns.

Vehicle Value

Your vehicle will be used as collateral for your title pawn. Your lender will need to know its value to determine your eligibility.

Your lender will inspect your vehicle during the application process to determine its value. Capital Title offers two offices for you to bring your vehicle in to be inspected.

When calculating the vehicle’s pawn value, your lender will take into account many factors, including make, model year, condition, mileage, and trim level.

To qualify for a title pawn, your vehicle must meet the minimum value requirements set by the lender. You will need to verify the policies of your title pawn company as they may vary.

Equity in Your Car

To qualify for a title pawn, you must have equity in your vehicle. Equity refers to the asset’s value after subtracting any liabilities. Your equity, which is simply the difference between the vehicle’s equity and the amount that you owe on it, can be described in simple terms.

Let’s say that your vehicle has an equity price of $15,000 and that you owe $3,000 to it. This means you have $12,000 in equity in your vehicle ($15,000-$3,000=$12,000.) Your equity cannot be borrowed more than its value. You are typically allowed to borrow up to a certain percentage from your vehicle’s equity.

If you don’t own equity in your vehicle, you won’t be eligible for a title pawn. Let’s say that your vehicle has a resale price of $8,000 but you owe $9,000 over it. The vehicle’s value is less than what you owe, so you don’t have equity. You can’t use the vehicle as collateral to a title pawn.

Repay the Pawn

Capital Title will not allow you to borrow the money you can’t afford to repay. When determining your eligibility, the lender will have to evaluate your ability to repay the title pawn.

Capital Title doesn’t require you to provide proof of income, but you may be able to borrow more money if your monthly income is $1,000 or higher. You will need to submit recent proof of income, such as a paystub and/or a bank statement showing direct deposits. These documents are proof of your income and can be used to repay your pawn. You don’t have to be employed to have a source of income. A title pawn may be available to you if you have other income sources such as retirement benefits, veterans’ benefits or disability benefits, spousal support, or other income.

Capital Title is one of the best title pawn companies staff will review the documents you submit and other factors to determine your ability to repay. This analysis will determine if your application is approved and if yes, the amount of title pawn.

To find out if qualify for a title pawn and how much you can borrow contact us at (850) 219-2274 Or (850) 297-2274 to get a title pawn quote, fill out our form online.