Most licensed lenders in McAllen, TX can approve secured loans with poor credit by factoring in your equity. However, the more you borrow, the higher your interest rate will be, and that can be an issue for someone looking to borrow a significant amount of money. Depending on how much money you make, you may qualify for an amount between $500 and $10,000 within moments of applying with Texas Title Loans.
Once your vehicle has been inspected, the funds can be sent straight to your checking account or picked up in person at a financing location in Texas! Keep in mind some title lenders offer no credit check options. This means you should be able to qualify even with a bankruptcy in your past or multiple late charges on previous loans.
Working with a local lender near you in McAllen, Texas, can only be seen as a benefit if you’re worried about working with a company you don’t know. These title lenders will offer you same day financing and provide no credit check title loans for those who qualify. In addition, vehicle equity loans are available right now for people who need cash fast but don’t have the ability to be approved for a typical unsecured bank loan.
The amount of time it takes to get your money from a title loan company in McAllen will often depend on your ability to get documents sent in and processed. If your title lender is able to get full access to the title of your vehicle, you might be able to have money in hand within 24 hours. Ask your underwriter if they can do an online inspection which is often done through video conferencing. Ultimately you will get money faster by bringing your vehicle to a certified inspection location in Hidalgo County.
Most people who need cash quickly already have all the documentation they need for their title loans. This means they already have the real official copy of their car’s pink slip or car title that shows the car is fully paid off. It also needs to show you are the sole owner of the vehicle and that no other finance company or lender has a lien on the pink slip. You will not typically have to fax any documents or provide pay stubs so long as you meet these basic criteria:
– You are at least 18 years old
– You have an active checking account with verification from your bank
– You can show proof of current employment
– You have an active proof of insurance policy on your vehicle
The APR ranges from 15% to well over 100% depending on the loan amount and if it is paid back quickly or not. You can get a title loan in McAllen within 2 hours for fast cash and sometimes quicker if you live in the downtown area or in suburban locations like Edinburg or Mission TX. It also depends on your state of residence and its secured laws. Texas has numerous state laws and regulations that all licensed lenders need to follow and the laws also limit what can happen if you face a repossession in Texas for late payments.
Typically your repayment is based on the amount borrowed and how many months you decide on for a payoff. It should be ok If you want to repay your online title loan in full with no hidden fees or penalties, but there are exceptions and it’s best to contact your individual lender for more information on this policy. You also have the option to get new repayment terms and payoff amounts with a title loan refinance. By refinancing an existing loan you can pay off the amount owed quicker and get a lower monthly payment than what’s currently offered.
Any way you look at it, you have numerous options to get cash for your car in McAllen. They don’t call it the City of Palms for nothing, and we can say that whether you apply with a lender online or with a local finance company you should make sure you can get money within 24 hours or less for your car title!