Online Car Title Loans In San Antonio TX
Do you own a car or truck that's lien free and worth at least $4,000? If so, there's a decent chance you can use that vehicle as collateral for a loan. These loans don't always require a comprehensive credit check, and qualifying is often based on your car's value and ownership status rather than your credit history.
Texas Title Loans works with eligible customers in San Antonio, and we can typically match you with a local company within 1 hour. That means you can get approved and funded for a title loan in as little as 1 business day, with funding amounts starting at $1,000. You can get approved with poor credit, and the primary requirements are a paid-off vehicle and proof of employment.
How Pre-Approval Works In San Antonio
We've offered pre-approval online, and we've specialized in this type of secured lending since 2014. Qualified residents in the San Antonio Metro area can be pre-approved for a loan using their vehicle as collateral, and everything can be done online or by calling 844-243-3195. The money you get from secured loans varies, but it's often based on the vehicle's current value.
Texas Title Loans also offers refinancing options on existing title loans in Texas. When refinancing a San Antonio title loan, it's crucial to understand that the new loan must still comply with the city's strict repayment standards (a maximum of 4 installments). Even if a lender in San Antonio has already repossessed your vehicle, you may be able to get back on track with a title loan that buys out your existing loan. In this situation, you get a manageable payoff term and avoid the lender repossessing your vehicle.
What Borrowers With Bad Credit Should Know
Unlike a personal loan, a licensed lender in San Antonio won't spend much time reviewing your credit history; instead, they'll focus on the equity in your vehicle. Borrowers with low FICO scores still qualify for a title loan if their car is paid off in their name and registered in Texas. So don't worry too much about your poor credit history when you apply for pre-approval with Texas Title Loans!
Have you recently dealt with bankruptcy, or has your vehicle been repossessed? While each situation is different, an active bankruptcy may result in you being rejected for a title loan in San Antonio. That's because most debts are discharged in bankruptcy, and no lender wants to risk having their loan discharged or forgiven. Call us at 844-243-3195 or submit the form above. We'll let you know how much you can borrow, based on your vehicle's value, not your credit score.
What You'll Need To Qualify
In almost every scenario, you need a lien-free vehicle titled in your name and proof that the car is registered and insured in Texas. The vehicle must be paid in full, and the lender will hold the car's title as collateral for the loan.
Other requirements often include vehicle registration, valid insurance, and a checking account with direct deposit. You will probably need to bring the vehicle in for a brief inspection, which can be done at your home or at any authorized inspection location in Alamo Heights or near the River Walk. The inspection can take 30 minutes or less. After that, you'll agree to a lending term, and then you can pick up your cash at any lending location in San Antonio.
Because of the local lending ordinances in San Antonio, your lender must verify your income to make sure you can afford the loan. Expect to provide proof of income, such as pay stubs, W-2s, or bank statements, to calculate the loan caps.
Current Restrictions for Title Loan Companies in San Antonio
The city of San Antonio has restrictions on title loan lending. These local laws are set by the San Antonio Ordinance No. 2012-09-20-0739, stating the following:
Loan Caps: Your loan amount cannot exceed the lesser of 3% of your gross annual income or 70% of the vehicle's retail value.
Mandatory Principal Reduction: Every payment you make on your loan must reduce the original balance by at least 25%.
Installment Restrictions: Loans are restricted to a maximum of 4 installments or 3 renewals.
Local Registration: Each lender must hold a valid City Certification of Registration.
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