Loans you can Obtain Without A Job

No jobMost lenders will require that a borrower have a job in order to obtain a loan. It makes sense. A lender wants the borrower to repay the loan plus interest. Having a job and a steady source of income is how most people are able to make their loan payments. There are some loans that you can obtain without having a job. Here are a few.

Pawn Shop Loans

If you have some valuable items such as jewelry or musical instruments, you can use those to secure a loan from your local pawn shop. The pawnbroker will loan you a certain amount of money while he keeps your item. You agree to repay the loan, plus fees of course, in a given amount of time. If you fail to repay the loan, the pawnbroker will sell your item to recover his losses. The pawnbroker does not care if you have a job or not.

Car Title Loans

A car title loan can be obtained by anyone who owns a vehicle and possesses a clear title. The vehicle must be paid off, or almost completely paid. A person can visit a title loan company like Embassy Loans of Florida and fill out an application. It takes just a few minutes and starts the loan process. An applicant must prove his or her identity, residency, and possess the title to the vehicle. Once the vehicle is appraised, the final terms of the loan are drawn up. Like a pawn loan, a title lender is not as concerned with a person’s credit or employment history. If the borrower defaults on the loan, the title loan company can take possession of the vehicle. The company can sell the vehicle to recover its losses.

Cash Advance

You can use your credit card company to obtain a cash advance which, in essence, is a loan. Oftentimes, your credit card company may send you checks that can written against your account. That is essentially what you are doing when you take a cash advance from your credit card company. You have already been approved for the credit card. Your credit card company does not care if you have a job when you take the cash advance. You will have to be careful because your credit card probably has a high interest rate and, possibly, extra fees if the cash advance is not paid off in a timely fashion.