Money problems can be super frustrating in Texas. Emergencies call for immediate cash, but residents can’t always receive it. Many consumers turn to their friends and family members only to hear that they cannot help. Some consumers try to visit their local banks for cash only to find out that they need to explain their entire life story and complete a mound of paperwork. Traditional lenders are highly judgmental and do not like to provide funds to “imperfect” people. Title loans Texas options were put in place for people who are affected by the previously stated situations.
Title loans are quick cash advances you can get if you own a car. The beauty of such loans is that the lenders do not require you to have a fancy car. Dallas title loans in Sherman will consider any working vehicle and provide you with assistance that is between $500 and $5,000. You can use the funds that the title lender provides you for a number of purposes. The lender will never tell you how to spend the proceeds.
Use them for bill payments, grocery shopping, investments, savings account padding, fuel costs, medical bills, bail bonds and the like. The lender will provide you with such funds for up to 30 days. You will pay only a tiny bit of interest. There is no other catch to it except that you have to allow the lender to place a temporary lien on your vehicle. The lien ensures the lender that you will repay the loan.
You can still drive your car around every day. The lender will not repossess your vehicle unless you fail to pay the advance and do not work out an arrangement. The lender will release the lien as soon as you repay the funds.
The proceeds from a title loan are easy to get once you complete the application process. You can start by visiting the provider’s website and completing a brief form. The form will ask you simple questions about the car. The information will give the lender something to go on when it develops your title loan quote. The lender will get back to you with a quote that you can review. If you’re happy with it, you can stop by a physical location and process your application. You will have to sign a contract and agree to all the terms therein.
The state governs the way that title lenders provide products to the consumers. Lenders must not extend any of their title advances past 180 days. That is the first regulation. Extensions are fine so long as they stay within the 180-day range. Lenders also may not charge their customers more than 10 percent interest on any advance. The regulations were put in place because many lenders were conducting predatory lending practices. Texas is still one of the most lenient states when it comes to title loans and like advances.
You may want to consider all the benefits of title loans and complete an application today. The first benefit is that you only have a minimal chance of receiving a rejection. Unlike traditional lenders, title lenders do not focus on your credit score. They use the car to ensure their repayment. Secondly, you can get your money fast. Most title loan transactions only take a few hours. Lastly, you can visit the same title lender the next time you get in a bind if you repay your advance properly. Apply now and have funds in your hand soon.