A title loan is a short-term, secured loan that enables borrowers to receive money based on the value of their car. The great news is that even though you're using your car as collateral, you retain possession of your car during the duration of the loan. Rather than sell a car and lose its value forever, it's better to take out one of these title loans and still be able to use your car for things like commuting to work, grocery shopping, or just going for a nice Sunday drive.
A title loan in Tomball and neighboring areas does a lot of good for people who need money very quickly but might not have the good credit standing to get a more traditional loan. When an emergency arises in your household, there's no need to sell off a valuable possession like a car when you can simply take out a loan on your car and pay it off very quickly. By nature, loans like this are supposed to be a short-term arrangement and it's always best to estimate how quickly you'll be able to pay off the loan. If you can pay it off in 180 days or less, using your car as collateral is one of the smartest options that you have.
Questions about car loans arise frequently for borrowers. We're here to give you the answers. It's extremely easy to apply for one of these loans on our site. Tomball residents and those who want to title loan in Houston will find it comforting to know just how stress-free the application process is. We only need sparse information to approve you for a title loan. For example, we'll need to know the year, make, and mileage to estimate the loan amount you qualify for, and we only need the basics of your contact information such as name, address, phone, and zip code. Our application process only take a minute or two and then you are given an estimate on how much money you qualify for. One of our helpful reps will contact you quickly about processing your loan.
Tomball residents should be aware of the title loan laws associated with their area. In Texas, there is no maximum amount of money that you can qualify for. This part of the process isn't regulated. However, interest rates on a title loan are capped off at 10%. To put this in perspective, realize that for every $100 you borrow, you'll owe about $21. Repayment is regulated as well. You can only renew your title loan 5 times before it must be paid in full. This is an extremely important law to keep in mind because if you haven't repaid in full by this time, your car can be repossessed. The stress-free news about that is that the majority of the time, borrowers are able to quickly repay a title loan and keep their car for good.
The many benefits of a title loan include:
As you learn more about title loans here, you'll see that they are often one of the only ways that a bad credit borrower can scrape through in a financial emergency. It is our desire to serve our customers cheerfully and expertly so that their title loan benefits them the most. If you have questions about title loans or want to apply, get started today. We look forward to assisting you