Can I have a cosigner to get a title loan?

Yes, here at Florida Title we are one of the only companies where you can use a cosigner to get a title loan. A cosigner can be beneficial on your title loan application for a variety of reasons from dual ownership of the vehicle being used for the title pawn, supplemental or additional income, supplemental proof of residence or even dual responsibility for the repayment of the title loan.

Dual Ownership

Did you know that your vehicle can be titled a variety of ways to connect the dual ownership? Depending upon how you and your co-owner’s names are joined on the title can be the determining factor on if both owners are required for the title loan application to be processed. Generally, ownership of the vehicle can be indicated on the title or similar paperwork, such as the registration of your vehicle, and joined by ‘and’, ‘or’, or nothing joining the two names. In the event that the ownership is joined by ‘and’, both owners are required to cosign on the title loan application. In the event that the ownership is joined by ‘or’, either owner can apply for the title loan. If there is nothing joining the two owners, both owners are required to cosign on the title loan application.

Supplemental or Additional Income

Utilizing Florida Title’s cosigner program for supplemental or additional income can assist your title loan application being approved for a larger approval amount then what you may receive approval on without the additional income. In any case, two incomes are always more than just one source of income and as part of our approval process, we factor in the income of the applicant as well as the value of the vehicle to determine the loan amount that your application can be approved for. We do have many programs that allow for our applicants to be approved without proof of income, but the approval amount will be lower than an application that is approved with proof of income.

Supplemental Proof of Residence

If you are unable to provide proof of residency on your title loan application because all of the acceptable proof may be in your roommate or your family member’s name, we can still assist you by allowing the roommate or family member to cosign on your title loan application and provide the proof of residency as part of the application process.

Dual Responsibility

Over the years, at Florida Title, we have seen that it is really common for customers to receive a title loan and share dual responsibility with another party to repay their title loan. We make it easy for customers to apply for a title loan with a cosigner to assist with making it easy for either party to receive account information, submit payments and general service of their account with Florida Title throughout the duration of the account.

Cosigners on title loan applications with Florida Title will always need to provide proof of identity, which almost always on us at all times! To provide proof of identity, we will need see a valid, not expired photo ID such as a State issued ID or Driver’s License, or any photo identification that is issued by the State or Government. Additionally, depending upon the reason for the cosigner, we would also need proof of income or proof of residency.

If you have any additional questions, we will be glad to assist you! Call our friendly staff at (850) 458-2274!