The general condition of the economy in the state of Texas has improved greatly since the end of the global financial meltdown of several years past. That being said, many sectors of the Texas economy continue to struggle to this day, and the after-effects of these financial difficulties are easy to see in many Texan communities.
Many residents of the cities and towns across Texas are dealing with an uncertain job market, relatively low wages, lack of job security, and rising costs of living. According to the U.S. Department of Commerce Bureau of Economic Analysis, the average per capita income in the state is only $47,000 per year, but many living costs that include mortgages and rental payments continue to steeply increase. In addition to these costs, families and individuals must pay for other necessities that include food, medical care, and clothing.
These steep living costs can leave many families without any emergency funding at all and can leave them financially vulnerable when life’s more serious problems make their appearances. These issues can include divorce, death, and serious illness, and can prompt people to search for help from mainstream banks.
Unfortunately, many mainstream banks seem to exist to serve those who already have some form of wealth, and all other loan applicants stand little chance of getting loans from such institutions.
The good news is, there is another option that many cash-strapped people have found helpful, and it’s called a title loan. A title loan is a basic cash advance that can be provided to people who need emergency financial assistance. Here at Texas Approval, we’ve made it our specialty to help people get title loans quickly. We've even taken steps to take care of people with special circumstances such as co-signed vehicles.
How to Get a Title Loan With a Co-Signed Car
Title loans are usually only issued to people who are the sole owners of vehicles, but in some cases, it is possible to get a title loans with vehicles that have co-signers.
When applying for a title loans with a vehicle that has a co-signer, certain things should be kept in mind. First, even though co-signers may not actually be making payments on the vehicles they sign for, they do have certain rights in connection with these vehicles. These rights usually require the co-signer to be consulted when financial decisions about the vehicle in question are made, including decisions about title loans. Thus, in order to get a title loan, the consent of the co-signer may be required before the loan is issued.
If this approach is not possible for some reason, another way to get a title loan with a co-signed vehicle is for the principal owner to pay off any liens connected with the vehicle. They could then file for a title transfer, after which they would become the sole owner of the vehicle in question.
Applying for Title Loans
Receiving a title loan with a financed car begins with a basic title loan application. This is a quick process, and loan applicants should begin by placing basic information about the collateral vehicles in the proper fields. The year, make, model and mileage should all be listed. Once this is done, contact information that includes name, email address, zip code, and phone number should also be listed.
Following this, loan applicants will receive title loan quotes that will provide them with estimated loan amounts. Finally, applicants will be contacted personally by members of the Texas Approval title loan issuance team. Any additional questions about how to get a title loan with a co-signed car will be addressed at this time, and the loan issuance process will be put into full gear.
The laws on the books regarding receiving title loans in Texas are fairly clear. Individuals who desire to apply for title loans should be at least 18 years of age at the time of application. They should also be able to provide the clear, clean, titles for their vehicles when asked to do so.
Title Loans: Known for Their Many Benefits
In addition to giving people the flexibility of being able to secure loans with a co-signer, title loans offer many other valuable and rare benefits, including the following items.
- No Background Checks. Many regular banks make it a matter of policy to put their title loan applicants through invasive and unnecessary background checks. This often serves to punish people who, just like everyone else, have made mistakes in their pasts. At Texas Approval, we recognize that mistakes are part of the growth process, and we never require background checks.
- No Credit Checks. Many regular banks frequently put their loan applicants through intrusive credit checks that can affect the credit scores of those who are run through the credit checking system. At Texas Approval, the vehicles themselves are the collateral for the title loans, and no credit checking is necessary.
- Use the Vehicles. Once our loan applicants have received their title loans, they are always free to continue to use the collateral vehicles for personal needs while they repay the loan balances.
As has become plain, the economic conditions in the state of Texas are hurting many residents. While these conditions may be hard for individuals to change, visitors on the site who have been wondering how to get a title loan with a co-signed car have certainly come to the right place.