If the car title is not in your name, obtaining a title loan can be more complicated, as most title loan lenders require the borrower to be the legal owner of the vehicle and have the title in their name. Here are some considerations and options:
Transfer the Title. To be eligible for a title loan, you may need to transfer the vehicle's title into your name. This process typically involves visiting the Department of Motor Vehicles (DMV) or a similar agency in your state and following the necessary procedures to have the title transferred to you.
Co-Borrower. Some lenders may allow you to apply for a title loan with a co-borrower or co-owner of the vehicle. In this case, both you and the co-borrower would be responsible for the loan and would need to meet the lender's eligibility criteria.
Transfer Ownership. In some cases, you may need to work with the vehicle's legal owner to transfer ownership into your name or explore other arrangements to secure the title and meet the lender's requirements.