Car Title Loans in New Braunfels

A title loan allows you to use your vehicle title in exchange for a cash loan. The title must be in your name and free and clear of all liens. It’s a great option for people who need immediate cash advances but want to avoid the consequences of high-interest bank loans. You don’t need to have the best of credit in order to obtain a title loan. However, the lender will just verify that you own the vehicle and that you have the means to repay the loan.

As a Texas resident, you can complete an application online or at the lender’s office. The loan officer will perform a quick examination of the condition of your automobile. There’s no need to provide your keys or allow the loan officer to test drive your vehicle. Once the loan is approved, your title will be held by the company as collateral until you have paid the full amount plus the standard repayment fees. It is not necessary for you to pay the entire amount in one lump sum. You will have multiple repayment options that you can set up with the lender. These flexible payment programs will give you the chance to break up your payments into smaller portions. At any time, you can make larger payments on your loan or simply pay the remaining balance to retrieve your title.

Applying for Title Loans New Braunfels

You can apply for a title loan online and receive an immediate estimate of the amount you will likely be approved for. It’s a quick and easy process. You will need to provide specific information to facilitate the approval process. If you are looking for a title loan in San Antonio we serve that location as well. Before you begin completing the application, you should have the following information at your disposal:

  • The year of your vehicle
  • Vehicle make and model
  • Vehicle style
  • Vehicle series
  • Vehicle Mileage

In addition to submitting information about your vehicle, you will also need a valid government-issued ID and a checking account. With your online application, simply provide your contact information, including your name, phone number and zip code. Upon submitting your information you will get a title loan estimate. If you plan to use a motorcycle as collateral for the loan, you may be required to provide proof of auto insurance. A loan representative will contact you within a timely manner to discuss your loan options and acquire more information about your vehicle and income. After a final decision has been to approve your title loan, you can pick up your cash at the local office in New Braunfels or opt to receive a direct deposit transfer into your bank account.

Requirements for Title Loans New Braunfels, Texas

All car title lenders must be licensed in the state of Texas. Therefore, you can check with your local municipality in New Braunfels to determine whether a particular company is licensed to issue title loans. The Annual Percentage Rate (APR) of your loan will may be regulated by the Texas Legislature, which requires lenders to charge no more than 10 percent interest. Some lenders, however, are registered as Credit Access Businesses (CAB) or Credit Service Organizations (CSO), which allow them to broker loans through third-party lenders.

Your payments will likely be scheduled every two weeks or monthly. The lender will collect the money from your account on scheduled days. You may request an extension if you need more time to pay. You also have the option to refinance or rollover your loan by paying a fee to delay the repayment obligations.