HOW TO GET APPROVED FOR A TITLE LOAN IN TEXAS
Apply For A Title Loan
Online or Give Us a Call
Tell us about yourself and what type of vehicle you drive. We'll need to know your current vehicle information, ability to repay, and how much cash you need.
Easy Online Approval and
Documentation Process
Send in your car's title, proof of income, and proof of Texas residency. Well check those documents across lender guidelines and can often prove an estimate in 30 minutes.
Sign Your Agreement
And Receive Your Funds
After signing your agreement, and once the lender is listed as lienholder on your title, you can typically get your money by direct deposit or pick up funds at a local office.
Requirements To Qualify For A Title Loan In Texas
You'll need a lien-free title in your name. Lenders generally won't accept titles with co-owners, and you must be at least 18 years old with a government-issued photo ID. Lenders will check your income and ability to repay, and you'll need to prove you live in Texas. Some lenders also want to see that the title is recorded with the TxDMV.
Texas Title Loan Rules At A Glance
| Topic | What It Means To You |
|---|---|
| State Oversight | The Office of Consumer Credit Commissioner (OCCC) licenses Credit Access Businesses (CABs) in Texas. |
| Borrowing Limits | Some title loan companies offer funding amounts up to $20,000, depending on your car's equity value. In Dallas, Austin, Houston, San Antonio, Fort Worth, and other ordinance cities, loans are capped at the lesser of 70% of the car's retail value or 3% of your gross annual income. |
| Interest & APR | OCCC data puts a typical $1,500 title loan in Texas at 262%-366% APR. |
| Repayment Rules | Title loan repayment terms max out at 180 days for most CAB-backed loans. In ordinance-governed cities, title loans can have up to 3 renewals, or installment agreements are limited to 4 payments. Each renewal or payment has to reduce your principal balance by at least 25%. |
| Keeping Your Car | You keep driving your car as long as you make on-time monthly payments. |
What Happens After I Submit An Online Application?
Initial processing and pre-approval usually takes 30 minutes after you send in your vehicle information. After you sign the contract, the lender holds your car's title until you pay off the balance. Loan amounts in Texas depend on your income and the retail value of your car, truck, or SUV.
Interest Rates & Fees For Title Loans In Texas
Interest rates for title loans in Texas are higher than traditional personal loans as most applicants have poor credit. Your car is the collateral, so approval mostly depends on your vehicle's value and your ability to pay off the loan. According to OCCC state reporting data, a $1,500 title loan in Texas runs between 262% and 366% APR. The rate and terms you're offered depend on the lender and your credit profile. Before you sign off on a contract, check that the company holds an OCCC license.
How Much Can I Get With An Online Title Loan?
Loan amounts in Texas can reach $20,000, however these higher amounts often require a vehicle valued at $10,000 or more. What you borrow depends on your car's resale value and your underwriting criteria, and most companies start at $1,000. You don't need a full-time job, but you'll still need to show proof of income, like bank statements, pay stubs, or proof of benefits.
How Long Does It Take To Get My Money After Approval?
Some title loan companies in Texas can get you cash within one business day. Funds can be wired to your checking or savings account, or sent via ACH, though ACH can take a day or two to clear. Some lenders also let you pick up cash or a check in person.
Can I Get A Texas Title Loan With Bad Credit?
You can still qualify for a car title loan even with a poor credit score or no credit history. Unlike most personal loans, title loans are based on your car's value more than your FICO score. At Texas Title Loans, we can help you find lenders who can look past your credit issues. Some lenders in Texas offer online title loans with no store visit. where you can complete the inspection and underwriting from home without worrying about a comprehensive credit check. Apply now to see if you qualify for a loan that doesn't require excellent credit.
Can I Refinance or Buy Out an Existing Title Loan?
Yes, you can get improved payment terms by refinancing with another licensed lender in Texas, which usually means they pay off your current loan and set new payoff terms. Approval still depends on your car's value minus what you still owe. If the other loan is over 50% paid off, you have a better shot at improved terms.
Repayment terms for title loans vary based on where you live and who you borrow from. While CAB contracts in Texas are capped at 180 days, loans in cities with local ordinances are typically limited to four payments. Title loan APRs in Texas vary widely and run far higher than traditional loans. In Texas, Credit Access Businesses (CABs) may charge a fee to arrange a title loan. Review the fee schedule and mandatory notice from the Office of Consumer Credit Commissioner (OCCC) provided to you by the CAB before signing.