Same day title loans are typically an option for those who need quick cash in El Paso Texas, but they do come with their own set of rules and regulations and you should only borrow an amount that’s manageable for you to pay back
To begin with, you must have a vehicle that’s paid off in order to get the loan which is secured by your car title. The amount will also vary depending on the mode of transportation you submit for collateral. The value of the car determines how much money the lender will be able to provide to people like you who are in dire financial straits. That’s one of the great things about online title loan companies in Texas; they’re always available, don’t require any credit checks and you can get your cash in 24 hours or less!
If you want to be approved for a title loan in Texas, you need to have the title of an eligible vehicle that’s been paid off. The amount of money you can borrow from a lender also varies based on the make and model of your car, truck or motorcycle. You’ll usually get more money if it’s a newer model but this doesn’t always hold true Also, sometimes older cars are worth more because they’re rare and have a higher resale value!
– If your auto title is in your spouse’s name, you might not qualify at some companies. Get with a few lenders before applying just so you know what requirements must be met.
– Have all the necessary documents ready to go. This includes a valid photo ID, driver’s license, copy of current vehicle insurance, car registration and the title to your car.
– You must have a job in order to qualify for a loan. This is where things can be difficult in El Paso as the unemployment rate has been higher than the national average for years. Most lenders require you to show pay stubs but this also varies by company so be sure to get with them prior to applying.
– If you can’t make all of your payments on time, don’t panic. Just get the extension forms sent out ASAP! Online Title loan extensions are usually free if you get them within 24 hours of missing your payment. A loan deferment will allow you to pay money after that timeframe has passed. In this scenario though, you risk losing the vehicle to repossession because of late title loan payments.
Most borrowers who get approved for a car title loan have bad credit and that’s ok. Car title loans are there for people who have no credit or poor credit as the lender mainly wants to see that there’s enough equity or collateral available in your car. Any licensed lender in Texas will need to abide by state and county regulations that mandate credit checks and how they use your personal information to make lending decisions. The main requirement is that your vehicle is paid off and you need to be able to prove it with the title.
Getting cash with a car title loan in El Paso TX doesn’t require much effort on your part. Just submit your application online or stop by one of the many offices in El Paso. You can find a handful of companies open on both weekdays and weekends in areas such as Five Point and Central El Paso. There are also a handful of direct lenders who have offices near the Rio Grande and Southern Border. You’ll need to provide the correct and updated paperwork for your vehicle with any local lender you work with. After you have submitted all this information, we will run a quick check of your vehicle history to determine what you qualify for once everything else is approved.
Contact Texas Title Loans to apply for a secured loan! You can apply with us using our online application or meet with us in person at any available location throughout El Paso County. Our friendly and well trained staff will help you with any questions or concerns you may have and we’ll do what we can to get your loan funded!