O/T Where to get a loan, no questions asked?

RLara85 · Sep 21, 2009

My health has been poor and I'm unemployed due to it, I have a sports car which I'm thinking of trading in for something more economical and practical to make up for my medical bills. The cheapest place I can still get a pretty nice car is of course ebaymotors.... my problem is that this is my only car and daily driver, I need to sell it first in order to pay for the new one.... it's a big city so it's tough to get around without a car, my disability prevents me from using public transportation.

Banks and other big loan companies won't give me the loan b/c im unemployed, the loan will likely be under $7k and I can pay it in full as soon as the car sells which should be about a month or two tops, so I''m not too worried about sky-high interest rates. Anyone know of an online place that will loan without the job requirement?

Pekkerwood · Sep 21, 2009

Please understand I am not recommending you do any of the following just giving info.

Most cities have "title Pawn" places that will loan on the value of your existing car. In some cities without "title pawn" businesses regular pawn shops will loan on your car.

When I wanted to sell my gf's care fast, we went to Carmax and got a quote and sold it the same day. The smaller amount you may get may make up for the fees and interest you are going to pay, not to mention your car devalues month by month.

You did not mention your current credit score. You did mention "No questions asked" but referenced no job. If it is because of less than perfect credit in addition to no job that makes it more difficult. In 16 states prosper.com is again lending I believe. This would be one place to check.

"No questions asked lenders" are generally referred to as "Hard Money Lenders". I own a busines that does this, but only loan in my city. We typically loan only on real estate. When I've loaned on cars or boats, I loan about half what I think its worth.

I hope this helps.

617ricky · Sep 21, 2009

Yea the only way you're getting a loan no questions asked with no job is if you have one of those places around that gives loans on cars - but the title has to be in your name.. I would never go to one of those places tho, it's total highway robbery.. My friend went to one once, and I was looking at his statement.. Well people think some credit cards are bad at like 20% APR, well his loan was 365% APR - 1% a day! And it goes by the whole month even if you pay it off early, so no matter what, you're paying at LEAST a full 1/3 of the loan amount in interest for the 1st month, with a compounding additional 1/3 of the balance for each month it's not paid off..

Honestly if you can't go to a bank and get a loan, you're so much better off getting it from family/friends - even a loan shark, ha!