Title Loans Seagoville, Texas
The first reasonable question to ask about title loans is what is a title loan? It's a pretty simple answer. A title loan is a form of secure loan that uses your car's value as collateral. Specifically, you put up the title of your car to get a loan. During the repayment terms, you're free to drive your car the entire time. You never actually give up your car. You simply put up the title as collateral and continue driving your car as you normally would. Our title loans in Seagoville can be used to fund anything you need money for. You can consolidate debts under a single car title loan payment, you can pay for college with title loans or buy new furniture for your home. Anything you need money for, a title loan can fund.
Application For Title Loans Seagoville, Texas
If you need to get money fast in Balch Springs used, you can apply for one of our handy loans. To apply simply:
- Tell us about your car's make, model, year, and mileage
- Give us basic contact information like your name and phone number
- Look at your loan estimate and decide if it's right for you
We can have money in your bank account by the next day after your application. It's one of our promises to our customers that we do no strings attached title loans. You don't have to supplement a basic application with income validation, credit checks, or an inspection of your car. You simply have to give us the basic information and speak with one of our helpful loan specialists. Your application will be greatly simplified when you respond to loan specialists. You can ask them any questions you have, learn the specific details of your loans, and listen to the helpful information they give you about the way car title loans in Seagoville, Texas work.
Legal regulations about Texas Title Loans
According to regulations in Texas, car title loans must be repaid in a specific amount of time. You can renew a car title loan a total of 5 times after your initial loan payment. The state legislature felt that this was best for borrowers and lenders. Not only do lenders get their money back in a timely manner on these high risk loans, but borrowers are able to escape paying massive interest on their loans when they repay more quickly. A good rule of thumb is that the quicker you repay a car title loan, the better. Interest rates are 10% and max out there. This protects borrowers from the once unfairly high interest rates of car title loans. While it's nice to be able to get a loan really quickly with no strings attached as long as you have a car title loan, the real dangers of defaulting on these loans increased before interest rates on them were set in law.
Benefits Of Car Title Loans
You've briefly heard a few of the primary benefits of car title loans. First of all, you get a large sum of money all at once to pay off your important bills without having to give up the use of your car for the repayment period. As long as you repay the loan within 6 months, you're going to really enjoy a car title loan experience. Many people use these loans to consolidate on loans that have even higher interest rates or to get a head start on the financial needs of college.
Other great benefits of car title loans are:
- The speed at which they're approved
- How you have cash in your bank the next day
- How you can reapply later on if you need another one
- How you can continue driving your car while paying on the loan
Remember: As long as you repay your car title loan in the set amount of time, you'll never lose possession of your car. Also remember: Repay! If you default on one of these loans you can lose your car. With our professional loan specialists ready to aid you in realistic repayment steps, this should never be a problem.