Home repairs can become expensive quickly.
A leaking roof, broken water heater, plumbing issue, HVAC problem, or electrical repair can create pressure on your budget, especially when the repair cannot wait.
If you own a qualifying vehicle outright and have a lien-free title, a Texas title loan may be one option to review for necessary, time-sensitive home repair costs.
Some borrowers search for car equity loans or vehicle equity loans. With Texas Car Title and Payday Loan Services, Inc., the product to review is a title loan, which uses a qualifying vehicle title as collateral.
This guide explains how car equity loans work, what items are generally needed, and what to review before using a title loan for home maintenance or emergency repairs.
Quick Answer: Can a Car Title Help With Repairs?
A title loan may allow qualified borrowers to use a lien-free vehicle title as collateral.
For a Texas title loan, you generally need:
- A driver’s license or state-issued ID
- A lien-free vehicle title
- Your vehicle for inspection
Submitting an inquiry does not guarantee approval, a specific loan amount, specific terms, or funding.
Find Out What Loan Can Help With Home Maintenance
The Cost Of Repairs
Insurance companies tell homeowners they should budget approximately one percent of their home's current market value to pay for annual repairs and maintenance. Those who have a $150,000 home, for example, should tuck away $1,500 yearly for repairs even if there aren't any right now because the older a home is, the more likely there will need to be bigger repairs for bigger issues coming your way in the future.
One thing affecting cost is the weather. Those who have extreme cold, hot, or humid weather can add to repair issues. Snow and ice can age the roof faster, damage gutters, and freeze pipes. Humidity can cause mold and mildew. Extreme heat can wear out your cooling system and beat your roof. It's always cheaper to maintain your home than pay for repairs, so doing annual home maintenance will save you money in replacement.
But while your homeowner's insurance will pay for some things, like damage to your home from a busted water pipe, it won't pay for everything. In fact, some roof damage isn't covered and water heaters typically aren't covered because those are your responsibility to maintain. When you’ve run into that kind of situation, instead of paying for it yourself, you can use a car equity cash loan to help you out!
Use Vehicle Equity Loans To Help
Some repair companies can find you financing for their products, like windows, heating and air units, or roofs, but you still have to have decent credit to get it. However, another financing option you can get, despite having bad credit, is a car equity loan. We here at Texas Title and Payday Loan Services, Inc. offer same day title loans so you can get that home maintenance repair done quickly in the case of an emergency.
If you have a lien-free vehicle title in your name up to $15,000, depending on the value of your car, your car’s condition, and your ability to repay. You must be at least 18 years old and own the vehicle outright before you can get this loan. That means you have a clean title with no one else laying claim to the vehicle. You also need a driver's license or state-issued photo ID, proof of your income like the most recent pay stub, and your vehicle available for inspection.
Getting a vehicle equity loan with us at Texas Car Title and Payday Loan Services, Inc. can get you the cash you need either on the same day or the next bank business day. And as we briefly said, you can get this loan despite having bad credit. While there is always a chance we’ll have to check your credit – especially if you are approved for a high amount – this means we won’t automatically tell you that you are disqualified for this loan because of a bad credit score.
Applying For A Loan
Those interested in a title loan to pay for home maintenance can start by filling out the quick and easy online application found right on our website. This application lets us know you are interested in this loan. A loan representative will call you to set up the car inspection and to make sure you have the right required items. You can either meet them at one of our nearby title loan stores or you can choose a more convenient place for them to come to you.
Bring your required documents and your vehicle to the meeting regardless of where you decide to meet. A loan representative will validate the items and inspect the car to determine how much you can borrow and if you qualify for approval for same day title loans. Those who are approved can get the cash either the same day or will get it the next business day. The good thing about us is the in-person process can take as little as 30 minutes to complete.
Get Money Fast Using Your Car Title Today!
As you can see, you don’t have to deal with emergency home maintenance on your own. If you need help with your finances and you’ve run out of traditional financing options, consider getting same day title loans from us at Texas Car Title and Payday Loan Services, Inc. to help you out. We will do what we can to let you know if you qualify for this loan and how much we can lend to you. And all you have to do is get started on our online application so we can help you get through the rest of the steps!
Frequently Asked Questions
What are car equity loans?
Car equity loans are commonly described as loans that use the value of a vehicle. With Texas Car Title and Payday Loan Services, Inc., the loan product to review is a title loan secured by a qualifying vehicle title.
Can I get a loan with a car title in Texas?
You may be able to start an inquiry if you have a qualifying lien-free vehicle title, a driver’s license or state-issued ID, and your vehicle for inspection. Approval is not guaranteed.
Can a title loan help with home repairs?
A title loan may be one option to review if the repair is necessary, time-sensitive, and other options are not enough.
What do I need for a Texas title loan?
You generally need a driver’s license or state-issued ID, a lien-free vehicle title, and your vehicle for inspection.
Does my vehicle need to be paid off?
Yes, a lien-free title usually means the vehicle is fully paid off and no active lender is listed as the lienholder.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.
