Nothing is worse than being turned down for a loan – especially when you need the money in a hurry due to an unforeseen emergency. Whether you need to make urgent repairs to your home or you have medical bills, it can be worrying and traumatic to find yourself being denied the money you need. So what should you do if you find yourself being turned down for an auto title loan?

What Can Cause You to be Turned Down for an Auto Title Loan?

There could be a number of reasons why you’ve been turned down for an auto title loan, but that doesn’t necessarily mean you’re completely out of luck. Fortunately, many of the following reasons have solutions you can potentially work around.

  • The vehicle doesn’t have enough equity
  • The vehicle isn’t in your name
  • You don’t have enough income
  • You’re in an active bankruptcy
  • You’re applying with the wrong lender

Incidentally, you might be concerned about your credit score, but that isn’t typically a big problem with auto title loans. Since you’re using your vehicle as collateral, lenders are generally more willing to lend to someone whose credit is challenged.

If you get turned down because your car isn’t worth enough, then the obvious answer is to use a different vehicle, but of course it’s not as simple as that. If you have a second car, you can always try using that instead, but the chances are you don’t. That being the case, you’d need to find another vehicle for the loan.

That leads us to the second potential problem – the vehicle isn’t in your name. There are two possible scenarios here:

  • You’re the co-owner of the vehicle
  • Your name isn’t on the title at all

If you co-own the vehicle with another person, you’ll find both your names on the title with either OR, AND or / between the two names. The laws will vary by state but if the title has OR it typically means you can get the loan without requiring the other person’s permission.

If the title has AND between the two names, you’ll need to get the co-owner to become a co-borrower on the loan or sign the vehicle over to you. Depending upon the situation, they might not be willing or able to be added to the loan and you may have to buy the vehicle from them.

Lastly, if there’s a / between the two names it can be a little complicated. If this is the case, you would need to ask the lender for advice, as, again, the meaning and the law will change from state to state. Some states treat it like OR and might allow you to get a title loan without the permission of the co-owner, whereas others treat it the same as AND, requiring you to have the co-owner as a co-borrower on the loan (or to have the vehicle transferred over to you.)

Another reason you might be turned down is because you don’t have enough income. Obviously, if you’re borrowing money, the lender will want to make sure you’re able to make the payments. Otherwise the risk is too great to the lender.

Each lender will have their own guidelines for approving the loan, but they won’t approve the loan unless they feel the borrower is able to afford the repayments.

If you find yourself turned down due to insufficient income, you should consider having a co-borrower on the loan. Their income will also be taken into account and you could then be approved for the loan.

Something to bear in mind is that you’ll both be legally responsible for making payments. In other words, if you, the primary borrower, fail to make your payments then the co-borrower is required to make them on your behalf.

What if you’re self-employed or are currently without work? Some lenders will turn you down unless you have a verifiable, regular income through an employer, but there are many who may still be able to work with you. For example, if you’re self-employed, a lender might be willing to accept bank statements or tax returns as proof of income.

Similarly, if you’re receiving benefits, the lender may be able to accept government award letters.

One thing that’s typically a deal killer is if you’re going through an active bankruptcy. In this situation, you shouldn’t be taking on any more debt (since, by declaring bankruptcy you’re saying you’re unable to pay the debt you have) and a lender will immediately turn you down.

Previous bankruptcies can also be a problem for some lenders, while others are willing to work with you if they’ve been discharged.

There’s one other option that you might not have considered; you’re trying to get a loan with the wrong lender. There are a lot of lenders who are willing and able to work with you, so if the lender you’re talking to can’t help you out, they’re not the lender for you.

Of course, no one wants to spend their time looking for the right lender, so it’s reassuring to know there’s one option that has the flexibility to help.

How a ChoiceCash Auto Title Loan Can Help

It’s hard to know which lender is most likely to approve your application when you’re shopping around. You don’t want to spend hours, or even days, calling a lot of lenders and having them turn you down. A ChoiceCash Auto Title Loan, serviced by LoanMart, has approved thousands of borrowers from all over the nation, allowing those who can’t be funded elsewhere to get the money they need.

A ChoiceCash Auto Title Loan works with all kinds of borrowers, in all kinds of situations, and can often provide funds when others are unwilling or unable to help.1

Besides offering the best rates and the most money, a ChoiceCash Auto Title Loan can also help those who are self-employed or receiving social security benefits – even if you’ve had previous bankruptcies.1 2

More than that, a ChoiceCash Auto Title Loan, serviced by LoanMart, can offer benefits the other loans and lenders can’t.2 The biggest of these is the ability to consistently lower your monthly payments. 2 When you make your payments on-time, your annual interest rate goes down and so do your payments. 2 Continue to make your payments on-time every month and you could see your payment drop by nearly half over the lifetime of the loan! 2

Another great benefit is the ability to potentially borrow more money in the future. 1 2 We all need emergency funds from time to time and nothing is worse than having to search for a lender and then getting turned down again. It’s reassuring to know that a ChoiceCash Auto Title Loan can give you the help you need when you need it the most.

You needn’t worry about losing the low interest rate you’ve worked hard to achieve, either. With a ChoiceCash Auto Title Loan, serviced by LoanMart, you can keep the same low rate you’ve worked hard for on your existing loan.2

Higher approval rates for more money, payments that can go down and the potential to borrow more in the future.1 Get your application started today by going to or by calling 855-914-2945 toll-free. You could find out in minutes how much you could borrow and be holding your cash in just hours! 1