If you are dealing with financial problems or an emergency, there is a good chance you’re considering a vehicle title loan. However, before jumping into a loan too quickly, you really should check out the title lender to make sure they are trustworthy and licensed to do business in your state. There are a number of things you’ll want to learn like whether they offer traditional title loans, second lien title loans, competitive rates and affordable repayment plans. Second lien title loans are hard to come by, but Texas Approval offers online title loans, which come with a number of outstanding benefits for borrowers. We work with a large network of title lenders to match you with the best lender for your financial needs with Texas title loan locations for your convenience. Loans don’t require a lengthy application process, so you won’t be spending precious time filling out forms and searching for financial documents. You simply fill out an online application, and we’ll contact you to discuss your loan term options. You’ll visit with a loan specialist on the phone to confirm your needs and loan details. To complete the loan, you’ll sign a contract, turn over your car title and collect your cash.
Why Consider a Car Title Loan?
Lots of folks prefer to deal with a professional lender who states the loan terms up front, provides a written contract and quick loan services. They also like the idea that they can spend their loan funds on anything like:
• Covering medical and dental services.
• Dealing with unexpected emergencies.
• Making car repairs.
• Paying creditors to avoid missing payments, late payment charges and assorted penalties.
• Making ends meet.
• Covering bills while transitioning to a new job.
What Kind of People Benefit From Vehicle Title Loans?
Low income people, those working for minimum wage and folks with poor credit scores or no established credit histories. All kinds of folks who need quick cash to resolve financial issues like:
• College students.
• People on disability.
• People who are unemployed.
• Folks going through a divorce.
• Anyone living on a fixed income.
• Independent contractors.
• Anyone needing financial assistance.
Do You Have the Qualifications for Loan Approval?
Texas Approval has streamlined the loan process. We only require two pieces of documentation and collateral to obtain a loan. You’ll need the following for loan approval:
1. Collateral for the loan. You can offer a motorcycle, car or truck as collateral to secure your loan. Of course, vehicles must be in working condition to qualify. Vehicles must be paid for in full. Your vehicle may be subject to a quick inspection to determine its current market value, which usually takes 10 minutes or less.
2. The paper copy of your car’s title. It is important that there are no current loans on your vehicle. Titles should list you as the legal owner and be free of liens, so borrowers can benefit from the equity they have in their vehicles. Sorry, we can’t allow second lien title loans.
3. Identification to confirm you are a Texas resident and old enough to sign for a loan. We will need to see a Texas identification card or your driver’s license proving you are at least 18.
How Do I Start the Loan Process?
If you are interested in obtaining a loan with a good interest rate and a fast pay out, fill out our short online application with the following information:
• Your first and last name, a phone number where we can discuss your loan options and your home zip code.
• The age of your vehicle, a mileage estimate and the make, model and body style.
Just a reminder, loan amounts are partially determined by the value of your vehicle offered as collateral. So, take a moment to double check that you have input your vehicle information correctly. Immediately after submitting your application information, you can count on a telephone call from one of our loan specialists to continue the loan process.
There is nothing worse than waiting to find out how much your car is worth and how much money you can get. We deliver customized loan estimates to each applicant right after we receive your submission. You’ll know right away how much money you could qualify for. This gives you the opportunity to decide if the loan would be helpful when making financial decisions.
Discussing Your Needs With a Loan Specialist
Applicants discuss their loan needs over the phone with experienced loan specialists. We explain our loan process, so you’ll know just what to expect at every stage of the process. It’s helpful to locate your current monthly income and expense figures, so you can determine a reasonable loan payment that’s manageable.
Once we understand your financial situation and the terms you are looking for in a loan, we will get in touch with our network of lenders to find an ideal lender.
Choosing a Repayment Plan
Comparing your monthly income against your expenses will help to determine what is left to make a car title loan payment. If you tend to run short of cash frequently, it may be best to choose a plan with longer repayment terms to obtain smaller payments. You’ll be presented with a number of plan options, and it’s also possible for us to custom design a plan if you prefer.
Confirming Arrangements With a Loan Agreement
To sign agreements, close loans and collect loan funds, the borrower needs to stop by one of our local loan center stores. To do business in the state of Texas, we must comply with all the state auto title regulations. So, we write up a contract agreement, which must include the details of your loan terms and a summary of verbal agreements. Contracts benefit both the title lender and borrowers, so everyone knows their financial obligations. Contracts will include:
• The total cost of your loan.
• The interest rate you obtained.
• The amount of money you will be paying for interest.
• Minimum payment amounts.
• Any applicable loan fees to obtain the loan.
• A handy repayment schedule for making timely payments.
You can collect your loan funds while you are at the loan center store, or you are free to make arrangements to have your cash deposited directly into your bank account, which may be more convenient.
Highlights of Car Title Loans
Customers throughout Texas are always thrilled and relieved to learn that credit isn’t a condition for loan approval. That’s right, credit scores are never checked, so no one is ever penalized because of poor credit.
Cash for Any Purpose
As a borrower, you determine how you’ll spend your loan funds, and it isn’t necessary to tell us how you’ll spend your cash.
Keep Driving Your Vehicle
Since most folks depend upon their vehicle to earn a living, run errands and transport the family to and from events, you retain the right to drive your vehicle.
Every approved borrower receives loan funds in one business day or less after applying.
Save time, money and reduce stress with a car title loan today.