TITLE PAWNS
IN TEXAS

A title pawn could be a great way to borrow money when using a lien free car, SUV, or truck as collateral for a loan. With an online title pawn, you can borrow money against your vehicle's value without worrying about a poor credit score or the other typical requirements for personal loans. Title pawns are typically much more accessible to qualify for than traditional loans and usually have much shorter repayment terms. Best of all, title pawning can lead to a fast funding process in Texas, as most local companies offer faster payouts if you meet with them in person. Even if you apply with an online title loan company, you can often receive your funds in as little as one business day!

Another benefit of title pawns in Texas is that you can borrow more cash than with unsecured loans. These pawns are secured by a paid-off vehicle, and lenders are more willing to lend larger amounts when they know there's collateral attached to the loan. Loan amounts with a title pawn company in Texas start at $1,000 for low-value vehicles, but some lenders offer upwards of $20,000 for high-value vehicles, though in cities with local lending regulations, your loan amount is capped at the lesser of 3% of your gross annual income or 70% of the vehicle's retail value.

Car Title Pawn Requirements

There are currently few requirements for car title pawns in Texas. You don't need good credit to be approved, and any lien free vehicle can qualify for quick online pre-approval. Vehicles that are model year 2016 or newer with a clean and clear title have the best chance of qualifying for a title pawn, and you must show proof that you can make your monthly payments on time. Prove your income with bank statements, employment records, or pay stubs.

Besides having a car that's completely paid off, the other requirements may include a valid copy of your current vehicle registration showing the car is registered. You may also need proof of vehicle insurance that covers the total replacement value of your car or truck if it's ever damaged.

Interest Rates & Payment Terms For Online Title Pawns

Like car title loans, title pawns' interest rates or "APR" are high. Many lenders in Texas can offer funding in as little as one business day with interest rates starting at around 100%. The repayment terms are negotiable depending on how much you can pay each month. In many Texas cities, municipal lending ordinances structure these loans for quick payoff. Instead of payoff terms that last for years, these title pawns are limited to 4 installments or 3 renewals. This shorter payment term allows 25% of your payment to go toward the principal balance.

At Texas Title Loans, we recommend never putting yourself in a situation where you can't afford the monthly payments. The worst-case scenario for a borrower would be losing a vehicle to repossession if the title pawn loan isn't repaid on time. Repossessions can technically begin after one missed payment, which is why it's so important to stay in touch with your lender to discuss alternative options. To avoid default, anyone in this situation should consider refinancing a car title loan or arranging an alternative payment plan.

Apply Online Or With A Local Title Pawning Company In Texas

There are two ways to apply for title pawns. The first option is to visit a local title pawning company in Texas, and the second is to apply entirely online from the comfort of your home. Others who apply in person with a local lender complete the vehicle inspection and document signing in just a few hours. Another option is an online title loan with no inspection, but in this case, approval is more difficult, and your loan amount is typically much lower.

Regardless of how you start the application process, Texas Title Loans can quickly let you know how much you're approved for with a title pawn. Our local lenders in Texas offer the best payment terms, and some newer lien free vehicles qualify for a title pawn of $1,000 or more. Call us at 844-243-3195 to get started on your application today!

The Best Auto Title Pawn Places In Texas

When you're ready to apply for auto title pawns, finding the best pawn companies in Texas is the best place to start. Many of these title pawn services have offices in larger parts of the state, like Dallas and Houston, and they should be willing to let you borrow a good amount of cash while you can keep driving the car by making timely payments.

The top title pawn lenders in Texas are also likely licensed by the Texas Office of Consumer Credit Commissioner, and some operate as credit access businesses. This means these pawn companies may not be offering the loan directly. They will process your paperwork and handle the underwriting. Still, ultimately, your loan will be issued by a company that offers car title loans, and the loan terms and contract details will function much the same as an auto title loan. Check with your lender before reviewing the loan contract to see what terms they're offering you and ask if they're funding your loan.

What Else To Know About Car Title Pawns In Texas

It's a common misconception that a title pawn requires you to leave your car at a local pawn shop. Instead, a title pawn in Texas allows you to keep your car and drive it as needed.

When you're ready to take out a title pawn in Texas, review the different fees associated with your loan. A title pawn can be a viable alternative to payday loans, but you must still use your vehicle's certificate of title as collateral! That's the beauty of an online title pawn! There's no need for a financing company to keep your car; a pawn shop or a direct lender will hold the car's title as collateral.

Apply online with Texas Title Loans, and we'll start the title pawning pre-approval process. Even though you're pawning your vehicle, this type of loan still uses your car as collateral. Your car's certificate of title serves as security for the loan, and it will be returned to you when the loan is fully repaid. Call 844-243-3195 to get your title pawn started!