Proof of income can be in the form of a bank statement showing deposits, a paycheck stub, or in some circumstances, an award letter from your supplemental income or official letter from your employer on company letter head.
If you are self-employed, we understand you may not be able to provide traditional means of proof of income. In lieu of check stubs, you can provide a business bank account and proof of ownership for the business. We can also accept a profit and loss statement for the business along with the proof of ownership, such as, but not limited to, the LLC or Articles of Incorporation.
Capital Title usually requires you to be employed for at least 30 days to factor your income in the amount you qualify for. However, there are several loan programs that do not require proof of income. These programs are designed to help applicants receive the funds they need but will be more restrictive than the other programs requiring income. If you are looking for the max amount on your title loan, it would be best to provide income. You can also have a co-singer to apply with you that has income if you do not meet the requirements on your own.
Still unsure if what documents you can bring to prove your income? Call our friendly staff at (850) 297-2274 today and get all your questions answered!