ONLINE TITLE
LOANS ON A TRUCK

If you own a semi truck or commercial rig free and clear, you may be able to borrow against the equity in it, even if you have poor credit. Loan amounts range from $1,000 to $20,000 in Texas, though in cities with local lending ordinances, you may be capped at the lesser of 3% of your gross annual income or 70% of the truck's retail value.

All types of lien-free trucks qualify, and the pre-approval process is quick for anyone who owns a newer, low-mileage truck. We offer pre-approval on work trucks, commercial trucks, and all types of commercial equipment. The value of your truck determines the loan amount, and you can often borrow 40% or more of its equity. As with a title loan on a car or motorcycle, a lender will keep the certificate of title to your semi-truck as collateral. They are then added as lienholders on the title. You can keep driving your big rig after signing the title over.

Walk into any local lending office in Texas and apply in person, get started with our online application, or call us at 844-243-3195. We've been connecting Texas borrowers with lenders for years, and we're proud to provide the same service for commercial truck and semi-truck owners.

How To Qualify And How Much Can I Get With A Truck Title Loan

Truck title loans are possible for any commercial truck driver in Texas, and loan amounts average $4,000. The truck's value determines the final funding amount. You have the best odds of qualifying for a truck title loan with a newer rig, and even if you have over 250,000 miles on your truck, you can still be eligible to borrow $1,000 or more.

Are you ready to get started with Texas Title Loans and see how much you can borrow? We'll need your truck's year, make, model, VIN, and odometer reading to get you an initial quote. At some point, the truck will be inspected to assess its condition and determine whether it matches the current resale value.

After the truck is inspected, you'll be told how much money you can borrow. Repayment terms depend on the loan amount and whether the loan is for personal or business use. While some commercial truck loans offer longer repayment durations, consumer title loans in many Texas cities are limited to 4 installments or 3 renewals to comply with local lending ordinances. Title loans on commercial trucks and semi trucks often have very high interest rates in Texas, making them challenging to repay if you only make the minimum payments.

One thing to know before applying is that you'll never have to hand over the keys to your rig to get funded. No one wants to pawn their commercial truck and not be able to use it for work and that's why it never makes sense to give up your truck as collateral for a loan. The main requirements are a clear title and proof of income. You keep the keys and keep driving your rig while your loan is repaid.

Truck Title Loans - What Are The Pros And Cons

There are quite a few benefits, including:

- Fast online approval. Don't waste days finding out whether you can borrow cash with your semi-truck. Texas Title Loans can take your application entirely online or call us at 844-243-3195 for a hassle free quote.

- Structured payment terms. While truck title loans often offer higher loan amounts, many Texas cities require a 25% reduction of the principal with each payment.

- Limited credit requirements. You stand little chance of getting an unsecured loan from a bank if you have poor credit. On the other hand, Title loans use the equity in your truck as collateral, so your credit is not a primary underwriting requirement. We offer pre-approval without an extensive credit check.

- Significant loan amounts. Banks and credit unions sometimes offer only a few thousand dollars for personal loans. A semi-truck title loan, on the other hand, can provide a funding amount of $1,000 or more, depending on the truck's value. Some customers qualify for up to $20,000 with high-value rigs.

- Quick cash funding. Commercial truck title loans can be funded quickly, and companies in Texas offer direct deposit title loans. These loans allow you to get money sent to your checking account quickly, with funds available from your bank in as little as one business day.

Consider the cons that come with a title loan on your truck:

-Repossession. Defaulting on a secured loan means the lender can repossess your truck. Even if you miss one payment, you could lose your vehicle.

-Excessive interest rates. The APR on a truck title loan is high; here in Texas, it can exceed 100% with some lenders. Collateral loans have lower interest rates than payday loans. Still, they can be challenging to repay and should be used only in financial emergencies when you have no other option.

-Lengthy repayment terms. While you will typically face a payoff time of 12 to 48 months on some commercial use truck title loans, some borrowers in cities such as Dallas and San Antonio will find their loans are structured for a much faster 4-month payment time due to local lending regulations.

Ready To Apply? Here's How To Get Pre-Qualified:

Any truck owner can qualify, and all you need is a CDL, your truck's title, and proof of income. Pass an inspection, sign your lending documents, and sign over your truck's title to get cash in as little as one business day. All trucks are eligible, including semi trucks, work trucks, construction vehicles, and work vans.

Call us today at 844-243-3195 or apply online to start your application.