What To Know Before You Get Title Loans In Abilene, TX
Before you can apply for title loans in Abilene, TX, there are some things you need to know. It is important you know as much as possible so you can get through the process as quickly as possible and not feel lost. We here at Texas Car Title and Payday Loan Services, Inc. want to make sure this is a simple process and that you understand everything. To make that certain, read this guide to learn some things about title loans.
Know These Things Before You Apply For Texas Title Loans
How Does A Title Loan Work?
To put it simply, a title loan is a secured loan. With a secured loan, the borrower has to put up something as collateral to get the loan money from a creditor. In the case of a car title loan, that collateral is your vehicle’s lien-free title that has to be in your name. A lien is placed on your title and we will hold onto it until the loan is repaid.
You Keep Your Car While Paying Back The Loan
It might sound like you are trading your car for money, and you don't get the car back until you pay your dues. But that's not how title loans in Abilene, TX work. When it comes to how we at Texas Car Title and Payday Loan Services, Inc. work, we are just using your vehicle’s title as collateral, not the vehicle itself. This means the car stays in your possession the entire time you're paying it off.
How Much Money You Get Depends On Your Car's Condition
The whole point of collateral is for a lender to at least break even if the borrower doesn't pay back their debts. This means that the value of your collateral determines how much money you will be able to receive from title loans in Abilene, TX. Of course, the value of your car is affected by many things. Think of it like trying to sell a car to someone else. Everything is going to impact how much the car is worth.
This means when you meet with one of our loan representatives in person, they will have to inspect your vehicle. When we do inspect the vehicle, we are looking at things like the exterior of the car, how many miles are on the car, whether or not the engine is in good condition, and other things that tell us the condition of the vehicle. The overall condition of your vehicle will determine how much money you can get at Texas Car Title and Payday Loan Services, Inc. for your title loan.
You Can Be Approved Even If You Have Poor Credit
Your credit usually plays a big part in whether or not you are approved for a loan. However, when it comes to our title loans in Abilene, TX, you can still find out if you qualify even if you have poor credit. This loan has to do with your lien-free title used as collateral. This means the credit history of the borrower isn't the most important part when it comes to whether you qualify. Remember that this doesn’t automatically mean we will never check your credit.
How To Get Your Texas Title Loan With Us
As you can see, understanding how a title loan works from us is not difficult. As soon as you understand these things, you can begin the process with a secure mind. And at Texas Car Title and Payday Loan Services, Inc., you can get started with the process easily. Simply call us directly or submit the online application found on our website. This means there is no need for you to come to one of our stores just to apply for this loan!
Once one of our representatives is in contact with you, they'll determine when you would like to meet with them. This is also the part where you can decide whether you’d like to come to one of our nearest Texas title loan stores or have us meet you somewhere else. Regardless of where we meet, bring your car, your lien-free car title, and your driver’s license or state-issued photo ID to that meeting so everything can be verified and inspected.
The representative will quickly inspect everything and determine if you qualify for approval. If you are approved, you will just have to sign some related documents and have us go over the loan terms. Once you are done, receive your funds either that day or the following bank business day. As you can see, our process is extremely simple and easy, so don't hesitate to contact us if you need a loan!
Get The Title Loan You Need Today
When you need help, don’t hesitate to look into title loans in Abilene, TX. This guide shows you some things you need to keep in mind before you begin applying. Once you fully understand these things and feel confident, you can easily get started on our process and quickly find out if you can get the money you need. Once you are ready, fill out the online application on our website to begin the process.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.