Car Title Loans Lancaster

Since the 1990s, title loans have helped consumers get much-needed cash during times of financial difficulty. Because loans are available in lower amounts, people can get some extra bucks to pay bills or buy necessities when they don’t have enough money to provide for what they need. When it comes to title loans Lancaster, the process is easy and fast. Consumers often find title loans Texas easier than trying to borrow money from a traditional bank or credit union. Texas Title Loans can help you out no matter where you’re located in Texas, including residents of Dallas.

Title Loan vs. Bank Loan

  • Title loans are usually short term. Bank loans are extended over a longer period of time.
  • Title loans are available in smaller amounts, usually as low as few hundred dollars or as high as a couple of thousand. Bank loans are usually only available in higher amounts.
  • Title loans are granted without a credit check, but banks check the borrower’s credit history.
  • Title lenders ask customers for identification, proof of residency and the vehicle’s title while banks. Banks may ask for employment history and other information.
  • Title lenders verify the title’s authenticity, assess the vehicle’s value and process the loan in one or two days. Banks may take weeks to verify a borrower’s credit worthiness.

Car Title Loan Application

Getting a car title loan is easy. Start with the online application for title loans Lancaster by entering your personal information; name, zip code and phone number. Then, add information about the car you want a title loan for, including its make and model, year and mileage. Once the application is complete, customers get a free title loan estimate of the amount they’re eligible to receive. They are then contacted by a title loan representative to finalize the deal.

Title Loan Legal Guidelines

Legal guidelines are in place to make sure title loan businesses and similar institutions operate in a fair and transparent manner. This is to ensure customers fully understand how the lending and repayment process works. Texas laws require these lenders to display or provide certain documents and information in a clearly readable format and in a prominent and noticeable location for customer viewing.

Information to Display or Provide

  • Schedule of all fees charged for services offered by the lender
  • Three to five examples of the lender’s most common loan types. These must include the standard fee rate, annual percentage rate, standard loan term and additional charges at the start of the loan, as well as any late fees and charges for non-sufficient funds.
  • Each product offered by the lender must be printed on its own standard-sized piece of paper.
  • Specific documents covering single payment and multiple payment auto title loan information is provided, which consumers get before a credit application or financial evaluation.
  • Lenders offering services through the internet must prominently display required information on their website.

Benefits of Car Title Loans

Fast cash
From application to cash in your hand, title loans are processed quickly. The entire process usually takes no more than one or two days.

No credit check
Your credit history isn’t even a consideration. Your car is the collateral used to get the loan, and as long as you have a steady income that allows you to repay the loan, you’re most likely eligible.

Keep and use your car
Trade your title for a title loan, but keep the car and using while you pay the loan back.

Fast repayment options
Because the loans are smaller, you pay them off faster. A loan repayment schedule is provided, but you can pay it off sooner if you like.

Cheaper than other loans
Bank loans cost you more, but so do payday loans and cash advances. Title loans often have lower interest rates because you’re using your car as collateral.