Title Loans: Everything You Need to Know

February 22, 2020 | Peyton Sawyer


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When a financial issue arises, leaving you stressed-out and scrambling to find the extra cash you need, it can be overwhelming. Whether the cash you require is needed to address an unexpected event or take care of other financial commitments, a title loan may be the financial support you are looking for. If you are not familiar with title loans, then you are probably wondering what the requirements are for approval and how much cash you can obtain. Finding out everything you need to know about title loans before entering into a financial contract is important. Taking a few minutes to read the information provided here or on the homepage of Texas Car Title and Payday Loan Services, Inc. is a great way to get started.

What Is A Title Loan?

A title loan, also known as a car title loan, is a short-term loan that requires an asset to be used as collateral for approval. Simply stated, if you own a motor vehicle with a lien-free title, you can use the value of that vehicle to receive cash.

Title loans have become very popular. Their growing popularity is a result of the easy approval process. Unlike traditional loans, qualifying for an auto title loan is often easier than qualifying for a traditional bank loan. Approval for this type of loan does not require a credit check and cash can be received the same day you apply. You can also keep driving your vehicle while you make payments on the title loan cash you receive. That’s right! You are not required to hand over your vehicle to receive cash. You will only be asked to supply the lender with your lien-free vehicle title in exchange for the amount you are approved to receive.


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Requesting Title Loans Online

Using the online option when requesting a Texas title loan provides you with the convenience of completing and submitting your information right from the comfort of your own home. There is no need to find time in your busy schedule to visit a store location when the representatives at Texas Car Title and Payday Loan Services, Inc. are waiting to assist you with your fast cash needs today. All you need to do to get started is complete the online request form provided, to receive a call back from one of the friendly store representatives. During the call, they will confirm the information you have provided, explain the easy requirements needed for approval, and set up a time to meet you at a location of your choosing. It’s that convenient. One of the representatives at a Texas Car Title and Payday Loan Services, Inc. location near you, will come to you to complete the title loan approval process.

You can also visit a Texas Car Title and Payday Loan Services, Inc. store location in your area to request and complete the title loan process in person. It’s up to you. With many stores located throughout the state of Texas, it should be easy for you to find a convenient location.

Required Items Needed for Approval

When requesting a Texas title loan, you will be asked to provide a few simple requirements. The requirements will include: your vehicle, a lien-free title, a valid driver’s license or state-issued ID, and a quick inspection to help determine the value of your vehicle.

How Much Cash Can You Receive?

By using the services provided at Texas Car Title and Payday Loan Services, Inc. you have access to same-day funding in just 30 minutes or less. With just a few simple items, and a quick vehicle inspection to determine your vehicle’s value, you can be on your way to getting the financial relief you need. Up to $15,000 in title loan cash is available the very same day you are approved.


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Repaying Your Car Title Loan

At Texas Car Title and Payday Loan Services, Inc. our representatives will work with you to set up a manageable repayment schedule that offers the comfort you need during your financial struggle. You have the option of making regular monthly payments to satisfy your loan schedule or making extra payments to pay off your title loan early. Early repayment will help you to avoid some of the interest charges and can be done without any penalties.

Defaulting on Your Title Loan

A title loan contract is a financial agreement between you, the borrower, and the lender. It states that you will make regular payments to the lender according to the terms listed. If you are unable to keep up with the repayment schedule that was originally agreed upon, be sure to contact your representative at Texas Car Title and Payday Loan Services, Inc. It is important to communicate any hardships that you are experiencing to avoid defaulting on your loan agreement. We do not want that to happen. Nonpayment can result in the seizure of the vehicle that was used as collateral. Please be sure to contact us so that we can help to keep your title loan in good standing.