What Is The Max Title Loan Amount You Can Get?

Are you looking for auto title loans and wondering what is the max title loan you can get? Read on. That figure may be higher than you think!

Here's the Max Title Loan Amount You Can Get

The max title loan amount available in Texas through Texas Car Title and Payday Loan Services, Inc. is $15,000. Although, this doesn't necessarily mean that you can get the max amount of $15,000. The max title loan amount you receive will depend on a couple of things. 

What Can Influence The Max Title Loan?

When you are getting a title loan, you should think about a few things.

Vehicle Ownership

If you have any liens on your vehicle (i.e. it is not fully paid off), then you can't get a title loan. It doesn't matter what the value of your vehicle is. The lender just won't be able to hand you a loan as you do not have full legal ownership of your vehicle.

The Value Of Your Vehicle

A title loan is a secured loan. This means that when you take out the loan it is going to be secured against the value of your vehicle. 

The factor that will have the biggest impact on how much you can borrow will be the value of your vehicle. Texas Car Title and Payday Loan Services, Inc. will check what the value of your vehicle on the used market is. We can use this information to determine how much cash we may be able to loan you.

Of course, only newer and more valuable vehicles will be able to hit that max title loan of $15,000. But older vehicles are going to be valued accordingly. If your car normally sells for a few hundred dollars on the secondary market, then it’s reasonable to expect to be able to only borrow a bit of money.

max title loan depends on car inspection

The Condition Of The Vehicle 

Before any money is lent to you, you will take your vehicle to have it inspected by a loan representative from Texas Car Title and Payday Loan Services, Inc.

They will give it a check over to ensure that there are no glaring issues that may impact the value. Again, they will be taking the secondary market value of your vehicle into account here. The condition of the vehicle will also influence the max title loan available to you. A vehicle in 'bad' condition will have a lot less value than a vehicle that you have treated with respect.

Remember, you are going to need to take your vehicle to a physical location to be inspected. This means that if you can't actually drive it to where it needs to be (i.e. the vehicle is not roadworthy), then you may not be able to get a loan against it.

How Does Employment Or Credit Score Impact The Title Loan Max?

When you request a Texas car title loan, you are going to need to provide proof of income. This does not necessarily mean that you must be employed. It can also be proof of you receiving unemployment or other types of compensation or income.

A title loan is also available to those with bad. So, don't worry about applying for a title loan if you don't have the best credit history. You may still end up being approved.

While these two factors may have an impact on the amount that you can borrow, the condition of the vehicle is always going to be the main factor that Texas Car Title and Payday Loan Services, Inc. is on the lookout for.

texas car title loans

Why Get A Title Loan?

Many people look into title loans due to the wealth of benefits that they can offer. A title loan can be an option for those that want to cover emergency expenses in their life. For example, if they have an unexpected repair bill, an appliance needs to be replaced, or they want to ensure that they do not miss a repayment. 

They are also an option if you are looking for fast cash to cover said emergency expenses. Texas Car Title and Payday Loan Services, Inc. can provide you with the money that you need the very same day or the following day. In fact, the entire loan process itself takes as little as 30 minutes, and all you have to do afterward is wait for the money to hit your bank account.

How To Get A Title Loan

Before you start the process for a title loan, ensure that you have the following items on hand:

  • Your vehicle (car, truck, or van).
  • Your lien-free title to your vehicle.
  • Your driver's license (or a different kind of state-issued ID card).
  • Your proof of income (i.e., your most recent paystub).

Once you have all the required items, you can follow these steps to get your money as quickly as possible:

  1. Call 1-800-514-2274 or fill in the online inquiry form on Texas Car Title and Payday Loan Services, Inc. It takes around 5 minutes.
  2. One of our loan experts will be in touch to discuss the process further and answer any questions.
  3. Bring your vehicle, proof of income, your driver's license (or another form of ID), and the lien-free vehicle title to your closest Texas Car Title and Payday Loan Services, Inc. location.
  4. Wait while our knowledgeable loan representative evaluates your vehicle to assess how much money you can borrow. 

If you are approved, you will receive the amount you qualify for on the same day or the following banking day, at the latest!

Get A Title Loan Today

The max title loan amount available to you will depend on several things. The best way to work out how much you may be able to borrow is to fill in the short inquiry form at Texas Car Title and Payday Loan Services, Inc. And a customer service agent will then get in touch to walk you through the next stages and provide you with answers to your questions.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Mason Roberts

Mason Roberts is a seasoned economics writer and blogger with a knack for breaking down and simply communicating the ever-changing world of finance. He is philosophically committed to the premise that financial knowledge equals financial freedom.