South Texas Title Loans

Central Texas title loan locations includes cities like Houston, Austin, San Antonio, Dallas, Texarkana, and Corpus Christi. Many people live in these cities and each has a different story. Unfortunately, many of these stories are related to financial hardship. If you’ve ever had a financial emergency and not been able to pay for it, you can likely relate. But even if your credit is bad, you don’t have anyone from whom you can borrow some money, and you don’t think you can get a conventional loan, a title loan may be the answer to your problem. It’s a way to get cash fast and easily using a vehicle as collateral. If you think this might be for you, read on! Taking out a title loan in Texas is easy. There are, however, a few things you should keep in mind if you’re trying to get this type of loan. First, and most important, you need to find a reputable lender you trust. This isn’t easy under any circumstances, so do your homework. Check online and find different lenders in your area and review their websites carefully. Find out what they offer and what interest rates they charge. Read reviews of different lenders; what others say is always helpful. You may also want to ask friends or family for a lender recommendation; you may be surprised at how many of them know of a good one!

When you take out a title loan, you are using your vehicle title to secure the loan. This means that your vehicle serves as collateral, which also means that if you default on the loan you can have your collateral—or your vehicle, in this case—repossessed and sold to by the lender to satisfy your outstanding balance. This is a worst-case scenario with a title loan, and a lender doesn’t want to repossess and sell your car any more than you want him or her to. It is crucial that when you take out a title loan you negotiate with your lender to settle on loan terms that you can actually afford. Lenders are typically willing to work with borrowers on this, so don’t be afraid to ask for what you want; the worst you can hear is a “no.”

When you find a lender you want to go with for the title loan, you can usually fill out our title loan application online. You need to give the lender your contact info and the make, model, mileage, and year of your car. Note: the car must be lien-free, which means you must own it outright. Once you fill out an online application, you can even get a title loan quote on how much you can borrow! That said, even if you fill out an application online, you will still need to visit the lender’s brick-and-mortar location so that he or she can see your car and determine its exact value by checking with Kelley Blue Book. In addition, you’ll need to sign on the dotted line.

When you go to get a title loan you’ll need some documents: your lien-free title to your vehicle, of course, plus a photo ID, and some proof of income. Don’t panic if you’re not working; federal law prohibits lenders from discriminating against sources of income, so if you are receiving unemployment or disability benefits they must be considered income. Also, no credit check is necessary—remember, you are using your vehicle as collateral—so if your credit history is nothing to brag about, don’t worry about it.

Once you and the lender come to terms about the amount of the loan and the payments, make sure you read the contract carefully. This is where things like extra charges may appear, so it’s important to educate yourself on every aspect of your loan. A great thing about title loans is that you can keep your car while you’re paying off the loan so your life isn’t interrupted. Once you go over the contract and sign it, you can get your money fast, even at the time you sign in some cases!

Really, the most important thing you need to know about a car title loan is that you have to make your payments in a time manner. Do this and you’ll not only solve your problem at hand, you won’t be making any new ones for yourself!

Texas Repo Rules

Since you are giving your title to a lender and he or she legally can repossess your vehicle, read below for some rules in the repo arena:

• In Texas, repo men don’t need licenses to operate.
• When you read your contract, pay particular attention to the repossession clause so you know just what you’re getting into.
• If you are late on one payment, a lender in Texas can repossess your car. It is not the first thing a lender wants to do, but if given no other options, he or she will.
• A lender does not need to give you a warning or obtain a court order to repossess your vehicle.
• A repo person can take your car only if he or she does not disturb the peace, which means he or she can not break into your garage to get it, nor can he or she ever threaten you or physically harm you.
• Filing for bankruptcy can stop repossession immediately.

For more information on Texas repo laws, click here.