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Title Loans in TEXAS

Title Loans in Texas

If you’re looking for the most convenient type of loan out there, it’s a good idea for you to explore the possibilities provided by title loans. Texas consumers can use this type of loan to get some financing even if their credit is not very good.

Many consumers struggle with credit issues every year. It’s not easy to get a traditional loan if you don’t have a fairly high credit score. If you’re credit isn’t good, the best thing to do is to look into an alternative lending product like a title loan.

The important thing that title loan lenders will consider when you apply is your vehicle. They won’t be looking too much at your employment situation, income, or credit history. Consumers who own vehicles can often use their vehicles as collateral on a loan. This type of loan fortunately offers a great deal of flexibility, speed, and convenience.

If you need car title loans online Texas to help you with expenses or a special purchase, you’re probably looking to resolve your need for financing quickly. You’ll therefore benefit enormously from the simplicity of this type of loan.

Title loans Texas: How title loans work

You should know how these loans work before you fill out an application. There is a process to applying and getting approved, but it’s not too complicated. When you apply for a traditional loan, you have to fill out an application. It’s the same with car title loans online Texas. One difference is that this application is really easy, stripped down, and more simple than an application for a traditional loan when it comes to title loans.

The most important detail when it comes to a fast title loans online application is the information about the applicant’s vehicle. The vehicle is the important detail because it is used as collateral on the loan in question. Questions included in the application are aimed at determining what the approximate value of the vehicle is. These are the following details that will have to be disclosed in the application:

  • What year the vehicle is
  • What the make and model of the vehicle are
  • How many miles there are on the vehicle

Texas law and how it impacts title loans Texas

States have the freedom to make their own laws about how title loans work. If you want to apply for a title loan, familiarizing yourself with how Texas law impacts car title loans online Texas is certainly a good idea.

Texas law is pretty lenient with title loans and doesn’t them as much as state law in others states does. Car title loans Texas laws involves the following:

  • There is no limit on how much title loans can be offered for.
  • There is a cap of 10 percent interest on title loans in Texas.
  • The loan term on title loans in Texas cannot exceed 180 days.

There are a lot of Texas title loan lenders out there. In the state of Texas, there is at least one title loans lender out there for every 20,000 people. That means that you should be able to find title loans Texas near your community so that you conveniently apply and shop around for the right deal.

There are also title loan repossession laws Texas. You need to continue to make payments on your title loan in Texas or its possible that your ownership of your vehicle could be compromised if you get too late in your payments.

Benefits of car title loans online

Many consumers are attracted to title loans because this alternative lending product offers some unique benefits that traditional loans can’t provide. They include the following:

  • Convenience factor- When you take out a title loan, you can apply online. With a traditional loan, it’s typically necessary for you to take some time to apply and maybe even have an interview. With title loans, you can fill out the application very quickly. Usually within only minutes you can fill out and submit an application, and you’ll get a response back quickly.
  • Choice of funds use- You don’t have to spend the money you get on your loan on a particular thing. You can spend the funds on anything you choose. This means you can just use it for bills if you like or make a big purchase on a business investment or vacation if you want. Remember that with a traditional loan like a mortgage loan, you have to use the money on a particular purchase like a home.
  • Credit score- One of the biggest reasons why a consumer resorts to a title loan is because they can’t get approved for a traditional loan because of their credit histories.
    Employment situation- Lenders are often interested in an application’s employment situation because a regular paycheck usually means that the applicant should be able to make payments. However, with a title loan, your employment situation is not going to be nearly as important to the lender. Because you have the vehicle that you’re offering as collateral, the lender assumes that you will find a way to make payment regardless of your employment situation.

Get started right away by filling out an application

If a title loan sounds like it could be something that will benefit you, you should fill out an application. Within minutes, you will be able to submit an application to us that we will evaluate immediately.

We’re here to help if you own a vehicle and you are in need of a short term loan. While we must limit the loan term to 180 days in accordance with Texas state law, there is no limit on how much we can lend to you. The real limit will be determined by the value of the vehicle you offer as collateral.

Check out our website to learn more and apply when you’re ready! We’re here to help you to meet your financial goals.

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