What Is A Title Loan And Can I Get One In Texas?

If you’ve found yourself wondering, “What is a title loan?” or “How can I get a title loan in Texas?” – you’ve come to the right place! Title loans allow you to use your car’s title as collateral to secure fast cash. At Texas Car Title and Payday Loan Services, Inc., we make the process simple and straightforward. Keep reading to learn what title loans are, how they work, and how you can apply for a title loan near you today.

What Are Title Loans in Texas?

A title loan is a type of secured loan that allows you to borrow money by using your vehicle's title as collateral. Unlike traditional loans, title loans do not require a strong credit history, making them accessible even to those with poor credit. If you own your vehicle outright and have a lien-free title in your name, you may qualify for a title loan in Texas with Texas Car Title and Payday Loan Services, Inc.

What Is A Title Loan Used For?

We highly recommend only using it for emergency purposes. While we won’t specifically ask why you are taking out this loan, you should know that it was designed to help with expenses that are urgent and that you can’t handle on your own. For example, if you experience major flood damage in your home, replacing everything that was damaged by the water can be expensive. This is where a title loan can come in and make things easier for you.

How Much Can I Borrow On A Title Loan?

When it comes to us at Texas Car Title and Payday Loan Services, Inc., you can borrow up to $15,000 on a title loan. That's not what everyone is approved for, however. Your loan amount you get is determined by the value of your vehicle. This means we will need to inspect your vehicle prior to letting you know if you qualify. We are looking at your vehicle’s overall condition, so we recommend you getting your car ready and making sure any damage to it is dealt with prior to coming in.

Can I Get A Title Loan Without The Title?

When we answer the question “what is a title loan?”, we have to emphasize that we use your title to secure the loan. This means you cannot get a title loan without a clear, lien-free title to your vehicle. Your title is the document that tells everyone that you legally own a vehicle. Without this document, there is no proof to show that you are the legal owner. This means your name needs to be on the title and that it needs to be free of any outstanding liens.

How Do I Apply For A Title Loan In Texas?

You have a couple of options for applying for a title loan with us. You can look up your nearest Texas Title and Payday Loan Services, Inc. store location and drop in there. We have plenty of friendly and knowledgeable staff members who will be happy to help you. You can also call your closest store and get the process started over the phone. Finally, you can fill out the initial title loan online application on this website and we will contact you to walk you through the rest of the process. 

What Is The Title Loan Process?

Once you've gotten started, the process is quick and virtually painless. You can even complete the entire thing without ever visiting one of our store locations. If you started your application process online, you'll hear from a loan specialist shortly after you submit the form. Your specialist will answer any questions you have and talk with you about what to expect in the next steps. You'll set up an appointment with an inspecting agent, either in-store or at a location of your choice.

If you want the agent to come to your home, that's absolutely fine. They will meet you where it's the most convenient for you. At your appointment, you'll need to present the few required items needed for verification. These are your state-issued photo ID, your clear title in your name, the vehicle you have titled in your name, and proof of your income. You can use your most recent pay stub as your proof of income. 

The visiting agent will inspect your vehicle to determine how much we can lend to you. This will be quick because we are only looking for any major damage that could prevent the car from working like it is supposed to. When the inspecting agent submits all the information, you'll know quickly whether you are approved or not and how much you can get. That is all there is to it! Now you know what is a title loan and how to get one!

Get Your Loan Today!

Ready to get started? Apply for a title loan with Texas Car Title and Payday Loan Services, Inc. today by filling out our quick online form, and let us help you access the cash you need, fast.

As you can tell from this article, answering the question “what is a title loan” isn’t nearly as difficult as you may have thought. We want this to be easy for you to understand so that you can get through our process as quickly as possible. So, as soon as it is clear what this loan is and how to get one, don’t wait any longer. 

 

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