Title loans are similar to secure loans save for one aspect. Secured loans do not have specifications on the type of collateral, however, title loans particularly require cars or motorcycles as collateral. These loans are referred to as title loans because the lenders demand a title or certificate of ownership as loan security. The lender only retains the title, and the borrower is allowed to use their vehicle without any restrictions. However, he is supposed to ensure that the vehicle is well maintained.
As a basic requirement, the borrower is supposed to have a legitimate loan title. The lender will ask for original documents to prove ownership of the vehicle. The major incentive for title loans is the fast approval. When you are hard pressed for cash, what you need is fast money. Car title loans can be approved within hours. They are fast instant loans that allow you to sort out your emergency situations. Title loans are short-term loans that need to be paid off within 30 days of application. In most cases, borrowers pay them from their next pay check, and they get their titles back.
You are in the right place if you are looking for title loans near me. As a credit access business offering title loans in South Houston and its environs, we have a simple and fast application process. To apply for fast title loans in Texas, fill out the form with the following details:
Once you furnish us with this information, one of our customer service agents will review your application and get back to you in the shortest time possible.
Texas, like other states, has regulations on auto title loans and payday loans. Title loans in Texas are obtained from credit access businesses (CABs). In comparison to other states, Texas laws on title loans are lenient. For instance, Texas laws impose no limits on the loan amount size and the consequent refinances. Most states have caps on how much (CABs) can lend to the public. The absence of these statewide laws works to the advantage of the borrowers. They can obtain loans equal to the value of their car.
One of the benefits of obtaining title loans is South Houston is that there are no credit checks. Generally, when applying for loans, lenders need to check whether the applicants are creditworthy. However, this rule does not apply to title loans. Your auto title suffices as security. The lender will retain the title to your car, and you can get it back once you finish making payments on the loan.Convenient repayment options
Title loans in South Houston can be repaid in convenient repayment schedules. While they need to be paid within 30 days, the payments options are convenient. In most cases, borrowers are able to repay the loan using their next pay check.Low interest rates
Cash advance and payday loans come with higher interest rates. This is primarily because of the risk that the lender assumes. However, a title loan will be secured to your vehicle. This means that the lender can afford to charge lower interest rates. In case you default, the lender will sell your vehicle to recover the loan amount.
When you have a cash emergency, online title loans are a great alternative to obtaining cash fast. The amount borrowed can be repaid on the next pay day.