Cash For Your Car’s Equity With A Title Loan In Fort Worth
Texas Title Loans offers access to fast funding with auto equity loans in Fort Worth. A title loan uses your car’s collateral as security for a loan, and there’s often no credit check. Instead of relying on your credit score, a lender looks at the equity from your vehicle, determining how much money you can borrow.
Loan amounts start at $1,000, and customers can borrow upwards of $10,000 with high value cars and trucks. Expect a loan based on 40% to 70% of the vehicle’s value, meaning a $6,000 car can lead to a title loan of $3,000 or more. Do you own a motorcycle or commercial truck? We can help you cash out equity with those as well! Anything that can be titled and registered in Texas can be used as collateral for a title loan and most applicants will qualify for a loan regardless of your FICO score. Read on to learn about what you need to qualify and how these loans work for customers in Fort Worth, Texas.
What Do I Need To Get A Title Loan In Fort Worth, TX
The main requirement will be a paid off vehicle and title documents from the Texas Department of Motor Vehicles to get started. Sometimes, you can get preapproved without the ownership documentation solely based on your vehicle condition and ability to add the lender as a lienholder to the title. Request an official copy of your pink slip at the Fort Worth Regional Service Center, and there’s a good chance of same-day approval if all the paperwork is submitted before 2 pm CST.
Most lenders require that only one individual holds the title. If this is the case, Texas companies allow you to get a loan on a vehicle if it has more than one titleholder. You must also submit proof of comprehensive vehicle insurance coverage, proof of active vehicle registration, and an active driver’s license.
Is your vehicle in good condition, and are all the documents ready for underwriting? If so, we can start your underwriting process online and connect you with a local lender in Forth Worth. For loan amounts over $4,000, A local title loan company will inspect your vehicle to ensure it’s road-worthy, and they’ll also want to record the Vehicle Identification Number. All these steps put together don’t take long at all and again, the main requirements for a title loan in Texas are that you own a vehicle worth $5,000 or more and that you can verify income.
Payment Terms And Interest Rates To Expect With A Fort Worth Auto Title Loan
Funding for a title loan in Fort Worth averages $3,000, and borrowers need to weigh the amount they want to borrow with the anticipated interest rate. Before signing any agreement or paperwork, this information should be readily available from any licensed loan company in Texas. A percentage each month that adds up over time is known as APR, which stands for annual percentage rate. The higher an APR is, the more money a borrower can expect to pay for this type of financing, and in Texas, these amounts can range from 20% up to 100%! Some lenders will even charge rates over 100% if you have poor credit, and they may also require a GPS tracking device on your vehicle. Because of these high rates and the risk of having your vehicle repossessed, paying twice the required monthly payment is always recommended.
Are you paying more than you can handle on another title loan from a lender in Fort Worth? There’s always an option to refinance your loan, and at Texas Title Loans, we can reduce the interest rate and give you a much quicker repayment term. Refinancing isn’t for everyone, especially if you have a low interest rate and are close to paying off your loan. However, it makes sense to take a few minutes and call us at 844-243-3195 to see if you qualify for a quicker repayment term. With a title loan refinance, you can save thousands over the life of your loan and get out of debt much quicker!
Vehicle Title Loans Fort Worth TX Local Lenders
You have many options if you feel inclined to go with a reputable title loan company in the Metro Fort Worth area. In addition to being a large city with multiple finance companies looking to offer instant financing, many towns in Tarrant County offer some form of funding for your vehicle title.
You will always have the choice of applying for online title loans in Fort Worth or working with a local company. One option that works well is to get going with your online application from a company like Texas Title Loans. We input all your info and determine the loan options and payoff you qualify for. After you are conditionally approved, you will take your vehicle and car title to a nearby location to sign the final documents and inspect your car. This process takes only a few minutes, and there are many convenient locations in The Stockyards, Arlington Heights, and Downtown Fort Worth where you can get your vehicle inspected and pick up your money in person.
Meet with a local lender in Forth Worth, apply online, or call us at 844-243-3195 to start your application. We can get you approved in less than an hour, and you will be on your way to borrowing $1,000 or more with your car’s equity!
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