Car Title Loans In Dallas
Are you looking to borrow $1,000 or more but can't qualify for a personal loan? Do you own a vehicle registered and titled in your name and can you provide proof of income? If so, you can be pre-approved for a car title loan in Texas!
Texas Title Loans works with local lenders throughout Dallas, and we can pre-qualify you for a title loan with just a paid off vehicle and proof of income. Car title loans require a car as collateral, and while your vehicle's equity is the primary underwriting factor, Dallas lenders will also perform a quick review of your income and financial obligations to make sure the loan meets the city's affordability requirements.
You can sometimes receive your funds in as little as one business day after applying, and some companies offer cash on the spot at lending locations in Dallas County. Don't wait any longer to see what you qualify for! We'll get you an initial quote fast.
Requirements For A Dallas Car Title Loan
Do you own a vehicle titled in your name, and can you prove your income? Do you have access to your car, and can you bring it to a lending office in Dallas for a quick inspection? If so, you should have no issue qualifying for a title loan of $1,000 to $20,000. Lien free vehicles can qualify, and a car that's year 2016 or newer has the best chance of being approved as collateral for a car title loan in Dallas. In Dallas, the amount you can borrow with a title loan is capped by law to the lesser of 3% of your gross annual income or 70% of the vehicle's retail value.
You will sign over the car's title to your lender, making them the vehicle's primary lienholder. Make payments on time and pay down the balance in full, and you'll get the vehicle title back quickly!
In addition to providing your lien-free title, your lender needs proof that you can make the required monthly payments. This can come from a bank statement or an employer verification. The bottom line is that your lender will only offer a loan if they know you'll make the payments on time. They don't want to provide a loan only to repossess your car or truck if you default.
Other requirements may include proof that your vehicle is registered and insured. You will likely need to show a state-issued ID and verify that your car is running and in good condition. This can often be done through a brief vehicle inspection at a lending office in Dallas County. Once the inspection is completed, you'll be less than an hour away from getting your cash!
Title Loan Regulations In Dallas
Title loan lenders in Dallas must register with the city and follow the "Unified Ordinance" standards (Dallas City Code Chapter 50, Article XI). These protections are shown below:
Income Verification: Lenders must ask for proof of income to comply with the city's 3% income cap.
Mandatory Paydown: Each payment must result in a pay off at least 25% of the original debt amount. You can't make interest-only payments.
Repayment Limit: Title loans in Dallas have a firm cap of 4 installments or 3 renewals.
Assistance Referrals: Your lender must provide a city-approved list of nonprofit agencies that offer financial assistance.
Apply For Auto Title Loans In Dallas, TX
Applying for a title loan in Dallas is simple if you start online. Texas Title Loans offers a quick application; we only need general details about your vehicle and some contact information for follow-up. Using that, we'll put together a quote that determines how much you can borrow and your estimated repayment terms. From start to finish, it takes less than an hour to get your loan amount and payoff options, and some customers can be underwritten and funded in as soon as one business day.
We have a network of local car title loan companies in Texas, and most of these lenders have retail locations in Dallas. Not only is it convenient to work with a local lender, but you can also use our pre-approval service to find the best title loan terms in Dallas.
One of the best things about a title loan secured by your vehicle is how quickly it can be processed and funded. You can complete the application, inspection, and sign off on the lending docs on the same day. When you apply with a neighborhood title loan company, you can pick up your funds immediately after approval. Some lenders in Texas will even send the cash by money order.
Car Title Loan Refinancing Options In Dallas
Do you have a car title loan from another licensed lender in Dallas? Are you having trouble making payments or looking to reduce your loan's APR? Or maybe you need to borrow more money and want the loan bought out? Whatever option you qualify for, your loan must follow Dallas City Code Section 50-151.3. This means any installment loan is limited to a maximum of 4 payments; each payment must reduce your principal balance by at least 25%. Texas Title Loans will help you get pre-approved with a lender that complies with these local regulations, while possibly offering a better APR.
Dallas companies charge interest rates of 100% or higher on title loans, and we may be able to pre-approve you to lower the APR and help you achieve a quicker payoff. Call Texas Title Loans at 844-243-3195 to see how much we can save you with a no stress title loan refinance!
Apply Today For A Dallas Title Loan With Bad Credit
Many of our customers have poor credit and have already been denied a payday loan or a personal loan. These loans are unsecured and approval depends on your FICO score. Some customers are denied a payday loan but are pre-approved for a car title loan on the same day. The reason for this is simple! Your credit history is less of a factor when underwriting a title loan if you own a vehicle worth at least $3,000. Bad credit title loans are available in Dallas, and you may be approved and underwritten within one business day.
Texas Title Loans accepts applications 24/7, and most customers can apply online or call us at 844-243-3195.
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