Apply Now In Houston For An Online Title Loan
With online title loans in Houston, you can get emergency cash by tapping into your vehicle's equity. You can borrow money quickly using a vehicle as collateral, so why not get started and see how much money you can borrow? Title loans in Houston are structured differently than in other parts of the state, and that's because local lending laws require that your loan amount be capped to fit within your budget. Houston residents can typically borrow the lesser of 3% of their total yearly income or 70% of their car's market value.
Car title loans are an option even for those with poor credit, as most title loan companies in Texas aren't too concerned with your credit score, as they are instead laser-focused on the equity amount of your lien-free vehicle. You can borrow a percentage of the value of your car, SUV, or motorcycle while making the monthly payments.
Qualified borrowers can apply now with Texas Title Loans and receive a quick pre-approval decision. You'll then complete the underwriting process, bring your vehicle in for an inspection, and sign a few forms with a licensed lender in Houston. Then, your funds can be sent to your bank account, or you can pick them up at a local lending location in Houston, Texas!
How Does A Title Loan Work In Houston
A title loan is a quick and easy way to borrow money for an urgent expense, and most lenders won't do a full check of your credit report! Title loans use your vehicle as collateral, and there's often minimal credit checks because your equity serves as security for the loan. Under the Houston City Ordinance (Chapter 28, Article XV), Houston residents are limited to title loans with a maximum of three renewals or four installments. Every single payment you make on your loan must reduce the principal balance by 25%.
You must provide proof of ownership and show that your car or truck is completely paid off with no other lienholders, cosigners, or lenders on the title. Title loan companies in Houston require proof of income to ensure you can afford the required payments, proof of registration and insurance, and that the vehicle must be inspected before your lender is added as a lienholder to the title.
If approved and your vehicle qualifies, you can get cash on the spot; all you need to do is hand over the vehicle title as collateral for the loan! The loan amount is primarily based on the equity or ownership value of your vehicle compared to its retail value. Loan amounts range from $1,000 to $20,000 in Houston, and you'll get the car's title back once the loan is repaid.
Title Loans With Bad Credit From Texas Title Loans
Car title loan companies know you would probably go with a low interest personal loan or installment loan with lower rates for people with a good credit score and spotless payment history. So, when would it make sense to get a title or auto equity loan secured by your vehicle? What if you have poor credit and can't qualify for a bank loan or a cash advance from a credit union? Most of our customers have few other choices and are surprised to learn that they can use a paid off car as security for a loan and not worry about getting denied because of credit issues. Many licensed lenders in Houston will look past your credit score because you have a vehicle to use as collateral.
This makes applying for an online title loan in Houston so much easier. You can get pre-approved within an hour, receive your funds in as little as one business day, and avoid a traditional credit check.
Fast Pre-Approval For Online Car Title Loans In Houston, Texas
In most cases, Texas Title Loans can pre-approve your online application within an hour. After you get final approval, the last step is to complete the vehicle inspection with a licensed local lender. A typical inspection can be completed anywhere within Harris County; sometimes, a notary or inspector will come to your house to finalize everything.
Apply for a pre-approval with a reputable company like Texas Title Loans! The lenders we work with in Houston understand how difficult it can be to deal with a financial emergency, and we've made the process as streamlined and straightforward as possible.
Payment Terms For A Title Loan In Houston
Unlike in other parts of Texas, title loans in Houston are subject to the City of Houston Credit Access Business Ordinance (Chapter 28, Article XV). These local lending laws in Houston require and promote fast repayment terms of 4 months or less for title loans. This is because the city of Houston follows a "Unified Ordinance" that's in place to prevent cycles in which customers pay on title loans for years on end.
Under these terms, a title loan is limited to a maximum duration of four installments or 3 renewals. These lending laws mandate that every payment or renewal must reduce your original loan balance by 25%.
Benefits Of An Auto Title Loan In Houston, Texas
If you already have proof of ownership and income verification, you can complete the application process in minutes. Once approved, you can receive your money quickly, and that timeframe differs from what you would expect with a typical personal loan provider or Texas bank. For most personal loans, it could take up to 2 weeks to process your loan application, and even then, you may still need to send in other paperwork to underwrite your loan.
Are you worried about the time it takes to get your vehicle inspected? The vehicle inspection doesn't take a lot of time, and you can borrow money based on the equity in your car, truck, or motorcycle. The best part about getting cash with your vehicle's equity? You'll receive your money as quickly as one business day, if needed. You can't beat this convenience when you need to get cash for an unexpected expense!
Apply For Title Loans Online Or With A Company Near Me In Houston
Regardless of how you apply, turn to Texas Title Loans to begin your online application in Houston. We are familiar with the specific requirements of the largest online title loan companies in Texas and will guide you through the process from start to finish. Begin with our online application, which takes under 5 minutes to complete. Alternatively, you can call us at 844-243-3195 to submit your information over the phone. Get cash for your car's title in as little as one business day via direct deposit, and keep driving your vehicle with a title loan in Houston!
Per Houston City Code ยง 28-481, all Credit Access Businesses must be registered with the City. Your title loan terms are protected by a mandatory 25% principal reduction requirement per installment (payment). Houston residents can contact the Administrative & Regulatory Affairs (ARA) department at 832-393-8533 with any further questions about these city-wide lending ordinances.
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