Applying for a Car Title Loan: Supplying the Supporting Documentation


“People… were poor not because they were stupid or lazy. They worked all day long, doing complex physical tasks. They were poor because the financial institution in the country did not help them widen their economic base.”

– Muhammad Yunus

Are you considering applying for a car title loan? What is a car title loan? Do you know what a car title loan is? I’m not sure I do; therefore, let’s investigate what car title loans Los Angeles are and how to apply for them.

Understand Car Title Loan
Understand Car Title Loan

Microfinance, microcredit, and car title loans

All of the terms mentioned above are interlinked with each other. Before we look at what supporting documentation you need to attach to your title loan application, let’s unpack each of these terms so that our understanding of the microloans industry is clear.


In a nutshell, the aim of the microfinance industry is to provide banking services such as savings accounts, insurance, and loans to the people who are considered too poor to bank at a traditional bank.


The author of the quotation at the beginning of this article, Nobel Laureate Professor Muhammad Yunus, is known for his “successful application of microcredit – the extension of small loans given to entrepreneurs too poor to qualify for traditional bank loans.

Car Title Loan
Car Title Loan

Car title loan

A car title loan fits under the microcredit umbrella. It is a loan that is awarded to successful applicants with the added caveat that they must have a fully paid up motor vehicle, which must be offered as collateral for the loan. In other words, if a borrower is not able to repay the loan within the specified timeframe (usually 36 months), the lender will take the motor vehicle in lieu of the loan.

Supporting documentation that needs to be attached to the loan application

Now that we understand what a car title loan is, and where it fits in the microfinance industry, let’s have a look at what documentation you need to attach to your title application:

Vehicle title deed

The original copy of your vehicle’s title deed must be submitted along with your loan application. It is also important to note that name on the application must be the same as the name on the title deed. In other words, you cannot apply for a car title loan using a friend’s or family member’s car.

Car Title Loan Application
Car Title Loan Application

Proof of Address

You need to submit a utility bill, house deed, or rental agreement to prove that you live where you say you live.

Identity document

Furthermore, you need to attach a copy of your valid driver’s licence and identity document to your loan application.

Proof of income

Depending on whether you are self-employed, or you get paid a salary weekly/monthly, you either need to provide one to three years of tax records, or you need to provide one to four weeks’ pay-slips if you get paid weekly, or one month’s pay-slip if you get paid monthly.


Finally, you need to provide at least two character references. These recommendations need to include one professional and one personal reference.