You hope not to have to worry about expensive car repairs, but even the most well-maintained vehicles break down. It just takes one small component breaking, and it can cost you hundreds or even thousands in repair costs. For many, unexpected auto repairs are a financial emergency they cannot afford.
Having a vehicle out of commission can disrupt your daily life. You might struggle to get to work, drop your kids off at school, or do your weekly grocery shopping. The problem gets worse when you don’t have enough cash in your account for the repair. If you need emergency cash, title loans in Texas can help. Follow this guide from Texas Car Title and Payday Loan Services, Inc. to learn how to get a title loan for fixing a broken-down car.
The Reality Of Unexpected Car Repairs
According to Kelley Blue Book, the national average car repair cost is about $838. The average cost of your repairs will vary by car model, as more expensive cars tend to cost more. The problem is that modern vehicles have a lot of moving parts, and damage to something seemingly inconsequential can have a huge knock-on effect for the rest of your vehicle.
You could be driving down the road, only for your engine to cut out, never to turn on again. If you’re lucky, you’ll have a quick repair job that costs no more than a hundred dollars, like fixing an oil leak or replacing a component. However, you could be looking at a full engine repair job or brake replacement that can easily stretch into the hundreds, if not thousands, of dollars.
Unfortunately, most people don’t budget for their car repairs. A study from AAA found that one in three drivers doesn’t have enough funds in their account for even the smallest repair. This isn’t through lack of planning; it is just because most people simply don’t have spare funds to put aside for car repairs without making major changes to their lives.
Can I Use A Title Loan To Fix My Car In Texas?
In Texas, you need a car. While you can use public transportation in some major cities in the Lone Star State, travelling outside of your general area will require a vehicle. If your vehicle needs repairs, you will want to do everything you can to get back on the road quickly.
However, it is hard to save hundreds or thousands of dollars for this surprise cost. This is where Texas Car Title and Payday Loan Services, Inc. can help with our fast approval title loans. This is a secured loan that lets you borrow up to $15,000 from the value of your vehicle.
You can fund a financial emergency like auto repairs as long as you own your vehicle outright. You must have fully paid off your car, truck, or van, so you can use the lien-free vehicle title as collateral. Approval will depend on you fully owning your vehicle and the value of your vehicle.
Can You Use A Damaged Car For A Title Loan In Texas?
If you need funds for car repairs, it’s likely that your vehicle isn’t in the best shape. Will you still be able to get a title loan for fixing a broken-down car? After all, your title loan value is based on your vehicle’s value.
If your car is damaged, you can still get a title loan. As long as your vehicle retains some value, you can get approved for a title loan. You are unlikely to get approved for a title loan if your car is beyond repair, but in this case, you wouldn’t need a title loan anyway. As long as your car is still in working order, or can be after some repairs, you can use it to get approved for a vehicle title loan.
We will look at the following factors to determine your title loan value:
- Car age
- Make and model (Ex, Nissan Sentra)
- Odometer reading
- Interior and exterior condition (Does your car have a damaged exterior, ripped interior, or missing car parts?)
- Maintenance history
- Modifications
What Are The Requirements For A Texas Title Loan?
Now that you understand how you can use a title loan for car repairs, it’s time to learn how to get approved. The first thing you should think about is the requirements for title loans. With us, you need to prove your identity, age, car value, and full vehicle ownership. As long as you own your car outright and are over 18 years old, you can get title loans for auto repairs.
Here are the required items you will need for title loans in Arizona:
- A state-issued photo ID that displays your full name and date of birth
- A lien-free vehicle title in your name
- Your vehicle for a quick inspection
Before beginning the process, make sure you have all of these items ready. Remember, your car title must be in your name, so you need to get a title transfer if it is not. Once you have everything you need, you can proceed with the quick title loan approval process. We will review the steps you need to complete to get a title loan below.
Title Loan Approval Process: A Step-By-Step Guide
Once you gather all of the required items, you can begin the approval process online with our request form. It takes just a few moments to provide your basic information. After submitting an online form, you can visit us in person to get approved in less than 30 minutes.
Learn more about the title loan approval process below:
- Fill out the online form with your basic details
- Answer a phone call from us to discuss title loan terms
- Bring your required items to the nearest Texas store location
- Have your requirements verified and your vehicle inspected for its value
- If approved, sign the loan agreement to finish the process
- Receive your title loan cash later the same day or by the next business day
Although the approval process is easy and fast, you should consider whether a title loan is right for you. This should be considered a last resort loan option, since you have to pay it back with interest. Think about borrowing money from friends or family, or waiting until your next paycheck if you can. Only apply for a title loan if it’s absolutely necessary and you can afford to repay what you borrow.
Get A Title Loan For Auto Repairs – Borrow Up To $15,000 Today!
Most people don’t have savings to handle unexpected vehicle repairs, which is frustrating since a vehicle is a lifeline for many. Getting a title loan in Texas is quick, and you can get the emergency cash you need within one business day. Texas Car Title and Payday Loan Services, Inc. can get you the financial help you need quickly, no matter your credit score.
Ready to borrow money to fund auto repairs? Begin our process by filling out our online title loan form, and we will call you to answer any questions you have. You can then visit us in person to get approved in 30 minutes. Fund your car repairs today with a Texas title loan!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.
