HOW THE CAR TITLE LOAN PROCESS WORKS

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Tell us about yourself, we'll need your vehicle information and the amount you need.

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We'll need you signature as well as some simple items like a copy of your car title.

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What is the procedure for Texas Title Loans – How to apply online and get approved

Many borrowers are veering away from traditional bank loans, opting for a more practical and quick car title loan. Texas Title Loans can be an effective and convenient way to get cash fast if you don’t fit the mold for a bank loan. Though installment loans can offer a lower interest rate and fewer fees, they can take a long time, and are not usually feasible for those with lesser credit scores or who need cash fast. With varying options as to how to apply and get approved, as well as a quick response, title loans are becoming more popular among borrowers.

Getting A Title Loan

There are different ways to apply for a title loan. You can apply in person at a business that gives Texas Title Loans, or you can apply online. With the convenience of the internet, many people nowadays simply apply for Texas Title Loans online; most are approved quickly without going in to sign agreements in person. If you apply online, you’ll simply fill out a small application, as well as provide the equity of your vehicle before getting an instant quote on what your loan could include. You can also work with loan specialists online at most companies to find the loan that’s best for what you need. Most lenders also offer a hotline for any questions you may have about the process or application. Some general websites even offer a service to search individual businesses (almost like book.com does for hotels and kayak.com does for vacation rentals) in order to locate the best deal for you.

What You Need

You’ll need a few items to get a car title loan. First, your car title needs to be lien-free, meaning your car is paid off already and your name is on the car title. Most lenders require all people listed as owners on the vehicle title apply, but others only require one. You need some kind of ID to prove you’re at least 18 years old as well. Even though employment isn’t a necessity at some lender businesses, others require proof of steady employment or at least some form of income. For a Texas Title Loan, you’ll also need to prove you’re an official resident of Texas.

After you have applied, you should be able to finish the process in as little as 30 minutes,both in person or online. Whether you’re applying online or in person, the process should be relatively quick and simple. No credit check is necessary since the equity of your vehicle takes the place of needed credibility, so this saves a lot of time. One of the best advantages to this process as opposed to pawning your car is that you get to keep driving your car—it’s only the title that’s handed over to the lender until your loan is paid off in full. Once you find out whether or not you’re approved for a title loan, you’ll be given a specific amount of money you can borrow which is based on the equity of your vehicle, your income status, and what you’ll borrow the money for. After you are approved for a given amount, you’re done with the first step in the process—you will likely walk out with the money you needed to borrow. You’ll be given a small amount of time (usually 2-4 weeks) to pay back the loan in full, or else you enter a “rollover” period in which the loan repayment is extended with additional fees.

Because each state has different parameters for the rates and requirements for the borrower, you’ll find that the items you need to get approved will also differ. While you may end up paying higher fees in Texas than in some other states, these types of loans are becoming increasingly popular among borrowers due to the ease and convenience of getting approved.

What to Expect for a Texas Car Title Loan

Texas Title Loans, like car title loans in other states, can be expensive and cumbersome to pay back. Interest rates and fees tend to be higher in these types of loans because borrowers usually have lower credit ratings or were denied by other lenders. But with Texas Title Loans, the value of your car suffices for the debt, in the event that you’re not able to pay the loan back. Therefore, you don’t necessarily need good credit. Some businesses will even give you a title loan for a lien-free motorcycle title. Usually taken out for small amounts of fast cash, these types of loans have a high interest rate, but can offer a quick fix to any given bind for money.

For a Texas Title Loan, you can expect to pay more than other states, given that the government hasn’t set many parameters about high interest rates. Since other states have set up laws about how high rates can go, you’ll pay fewer fees in other states. While the Texan government is working to set up at least some parameters to control the cycle of debt for Texas Title Loans, there are not many limits in place as of now. Expect to pay around $23 in fees per $100 you’re asking to borrow in Texas. One detail to note is that if you’re unable to pay back your loan within the allotted time frame (usually between 2-4 weeks), you’ll enter a rollover period where your fees and interest may increase drastically, while the principal owed remains the same. Most Texas Title Loans don’t have a limited number of rollovers, but fees increase with each rollover, leaving borrows in a much larger debt cycle than if they are paid back before rolling over.

You’ll need to provide some specifics in order to proceed with getting a Texas Title Loan. For instance, make sure you bring the following items with you when you request the loan: Driver’s license or state-issued ID, lien-free title to your vehicle, and your vehicle itself (for an inspection). A lien-free title simply means that you own your vehicle in full, without any other loans on it. Once you pay back the fees/principal amount of money owed, you can earn your title back.

The great thing about Texas Title Loans is that it is convenient -you can set up your loan quickly, and it’s not a lot of hassle to do so. While bank loans can require many checks and balances, as well as current employment and a valid bank account, Texas car title loans are relatively easy to get. You don’t necessarily have to be employed to receive a Texas Title Loan. However, some form of income is usually required. You won’t even need a valid bank account. Pending any necessary paperwork, you could have your loan within around 30 minutes, give or take. So you can expect it to be a quick and painless process to achieve if you’re willing to pay the fees associated with this type of title loan.

 

TESTIMONIALS

I can't thank you enough for how easy you made the entire process.  I was able to apply for a title loan and get my cash in just 36 hours.  I didn't expect it would be that simple.

Patrick Semore, Dallas, TX

I was having trouble filling out the online application so I called the phone number listed.  Your agent was very helpful & she walked me through the entire application process.

Jan Miller, Austin, TX

I rate your service 100%. Thank you so much for making this process so fast and easy. Your representatives were very helpful and the speed in getting my funds was very fast.

Robert Smith , El Paso, TX