Not having the necessary credit to get a loan can be frustrating. Most borrowers look for a credit score of 650 as a pre-requirement when applying. Before you give up, consider taking out a title loan in Amarillo instead. Since your vehicle title is what secures the loan, your credit may not even be checked at all. Even if you do not have established credit, you will still be able to apply with us! All for your vehicle title, you may be able to get up to $1,340 instantly! Apply now to find out more information about Texas title loans, and get a title loan estimate on the money you can borrow from our lenders.
Title loans are a type of asset-based lending which means you give something up for collateral in exchange for money. This is what keeps your credit score from disqualifying you for this type of loan. These loans have a short lending period and are typically meant to be paid off in 30 days. However, your loan period may be shorter if you make early payments. Since prepayment is allowed, most individuals get their titles back before the maturity date of the loan. No additional charges will appear if you pay off your loan earlier than expected.
Online application is the first step you can take when it comes to this loan. This process may take less than a minute since it only asks you information about your vehicle. Questions regarding your car may include: the year, make, model, style and mileage. For this little information, you get a free loan quote from our website, or a trained loan agent. Our loan agents are also available to find a title loan location company or lender in your area that will be able to assist you in getting fast emergency cash
Some title loan lenders will require you to bring additional documentation besides your vehicle title to finish the process. This can include:
Title loan lenders, by law, must operate transparently. Your contract must be clear and easy to follow, and is also required to indicate payment amounts, schedules and interest charges added onto your principal loan amount. The document must also include a complaint hotline, so you can file any complaints about your title loan lender if you believe you are subject to unfair trade or practices. The Consumer Financial Protection Bureau may also be able to assist you in these matters if you submit a complaint online.
You are the only individual who is held responsible for paying off this loan. If you are going to be late on any payments, it is important to communicate that with your lender. Some lenders may even give you a couple of extra days to pay off the amount without any additional charges.