San Angelo title loans may be just what you need to get through a bump in the road of life. Title loan markets started booming over the past decade because so many people began to prefer them to payday loans because of their many benefits. The local title lender is someone that you should visit if you are having trouble keeping up with the bills, or you are having an emergency at this time. You may qualify for a title loan in Texas.
Title loans got their names from the fact that they deal with auto ownership titles. Consumers just like yourself work deals with lenders by putting their cars up for collateral. Title lenders provide cash loans that are equal to a certain percentage of the car’s market value. Therefore, title loans can add up to several thousand dollars for a consumer who has a car that the lender sees as a new vehicle. Title loans are 30-day loans that don’t seem like they are secured because the borrower still gets to drive the car while the loan is outstanding.
You can apply for a title loan in less than five minutes. The very brief application form is located on the lenders page, and it has two parts to it. The first part requests your personal information, and the second part requests information about the car for the title loan quote. The loan quote is based on the percentage of the value of your vehicle based on the information that you gave the lender. A representative will contact you after you submit the form and give you a loan quote. You enter a branch in San Angelo or a title loan in Abilene and finish processing the loan if you like the estimate.
The lender will perform a credentials check before it issues the loan to you. The lender will also create a contract and ask you for the title to the vehicle and so forth. You must sign the contract to obtain the title loan. The contract will state the loan amount, finance charge, interest rate, repayment date and the like. You will sign the contract and return it if you agree with all the terms. The lender will then disburse the funds to you. You will have 30 days to repay the title loan.
Title loans San Angelo financial products have some regulations on them that the state implements. The first regulation is the length of the loan. Lenders can only provide such loans for up to 180 days. A Texas lender may charge the consumer any fee that it sees fit to charge. However, it may not charge the consumer more than 10 percent interest. Another rule is that the lender must collect a clear title, but most lenders do that anyway. Texas lenders do not have to abide by the right to cure laws for their title loans.