Sharing a vehicle is common today, especially with the cost of new vehicles at an all-time high. You may share a vehicle with your spouse or other family member you share a home with if you can carpool to work together, or one of you works from home. However, can I use a shared car title for a loan?

In this guide from Georgia Auto Pawn, Inc., we will explain how to use a shared lien-free car title to access emergency cash through a title pawn. We will explain how to use a shared car title for a title pawn in Georgia and how having a shared vehicle title changes the process.

Can I Use A Shared Car Title For A Title Pawn?

As long as your name is on the vehicle title, you can get a secured loan using a car title. Even if there are two names on your vehicle title, you can still get approved for a Georgia title pawn. You will need to get co-owner consent for a title pawn before applying, but we will allow you to use a shared vehicle title.

Before beginning the approval process, talk about getting a title pawn with your car owner. Remember, they are also legally responsible for the vehicle, so they will need to agree to enter into a legal contract.

There are downsides to a title pawn, including the risk of losing the vehicle if you fail to make repayments. You need to have an open, honest conversation with them to determine whether this is the right choice for funding your financial emergency before proceeding.

Requirements For A Title Pawn In Georgia

To get approved for a title pawn in Georgia, you must own your vehicle outright. That means you and your co-owner have fully paid off any outstanding debts, liens, or judgments. You cannot get approved with a financed car; you must have it fully paid off before applying. Along with a lien-free vehicle title, you will need just a few other items to get verified today.

Here are the required items for a title pawn in Georgia:

• A state-issued photo ID – You will need to prove you are at least 18 years old to borrow any loan in Georgia. You can use any state-issued photo ID that displays your full name and date of birth, including a driver’s license, passport, military ID card, etc. Your co-owner will also need to prove their age and identity with an ID.
• A lien-free car title – You must own your vehicle outright to get approved. We will need to place a lien on your title to process the loan, which we can only do with a clear vehicle title. The title must be in your and your co-owner’s name. If your name is not on the title, you cannot get approved for an emergency title pawn.
• Your vehicle – We will need to inspect your vehicle to determine its value. Your vehicle’s value will affect how much you can borrow. You can only use a car, truck, or van, and it must be the one associated with your vehicle title. During an in-person inspection, we will assess its age, make, model, condition, mileage, and other factors to determine its value.

How To Get An Emergency Title Pawn

If you need a fast loan for emergency cash in Georgia, a title pawn is a perfect option. Not only can you start the process online, but you can get approved in person the same day you apply. At Georgia Auto Pawn, Inc., we prioritize speed and efficiency to help you get the cash you need as quickly as possible.

You only need to complete a few easy steps, including:

• Fill out our online inquiry form
• Answer a phone call from a loan agent to discuss title pawn terms
• Head to the nearest Georgia store location with the required items for verification
• Have your vehicle inspected to determine the title pawn amount
• If approved, you and your co-owner can sign the title pawn agreement
• Receive the funds later that day or by the next business day

Does Having A Shared Car Title Affect The Title Pawn Approval Process?

While the steps in the process will remain the same for a shared vehicle title, you will need to complete them with your co-owner. You just have co-owner consent for a title pawn, since you both have an equal stake in the vehicle.

That means you will both need to provide photo identification to verify your name and age. You will also both have to sign the loan agreement to enter into the title pawn contract. If you both do not agree to take out a title pawn, you cannot be approved for one on your own unless you are the majority owner of the vehicle.

If your vehicle title lists your names with an “or” (“Your Name” or “Your Co-Owner’s Name”), you may proceed independently. If your names are listed with an “and” (“Your Name” and “Your Co-Owner’s Name”), you will need their consent to get a title pawn in Georgia. In this case, you will need to get a title transfer to make yourself the sole owner of the vehicle.

How To Get A Title Transfer In Georgia

A title transfer is the process of changing legal ownership of a vehicle from one party to another. This happens when you buy a car, or when you wish to remove a co-owner of a vehicle. You can only do this with the consent of your co-owner. If you cannot agree on how to use the vehicle title and wish to go in different directions, you can get a title transfer at your local DMV office.

You will need to complete an MV-1 DOR Motor Vehicle Title/Tag Application with the following information:

• Purchaser’s legal name
• Street address
• City, state, zip code, and county
• Date of sale or transfer
• The transferor and transferee’s printed name and signature

You can complete this form at home or do it at your local DMV office. You will need the completed form, the car’s original title, the odometer disclosure statement, the bill of sale, ID, and proof of car insurance to proceed with the title transfer. You will have to pay an $18 fee to get the title transfer.

FAQs About Title Pawns With Shared Titles

Can you get a title pawn with no credit check?

While we may do a soft credit check, you can still get approved for a title pawn with bad credit. Your vehicle’s value and lien-free car title are more important to approval than your credit score.

Can I get a title pawn with someone else’s vehicle title?

No, the title must be in your name and match the name on your ID. You can get a title pawn with a shared vehicle title, but you must have your co-owner’s consent before applying.

What are the alternatives to an emergency title pawn?

If you cannot get co-owner consent for a title pawn, you could consider borrowing money from a friend or family member, getting an advance on your paycheck, or borrowing a personal loan for emergency expenses.

Borrow A Title Pawn With A Shared Title In Georgia – Borrow Up To $15,000 Today!

At Georgia Auto Pawn, Inc., you can get a title pawn with a shared car title. We keep the process fast and simple with our online application. You can get same-day funding for urgent financial emergencies in just a few easy steps. Get the cash you need now by filling out our online title pawn form and visiting us in person to get approved in under 30 minutes!

 

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.