West Texas Title Loans

After you probably took out a small loan at your local conventional bank in the past and you are aware of the hassle experienced, you may not want to allow your money issues to force you into the same situation. If you are down on hard times and don’t want to approach family members or friends, but keep it private, Texas title loans will hold your circumstance in confidence.

Online Title Loan Application Process

Once you approach the title loan lender, whether by phone or on their website, you are able to quickly complete the easy application form. Upon delivering the minimal paperwork requested by the lender, your loan could be approved in less than 24 hours. It all depends on how fast you get the information to the lender. More importantly, since credit scores are not instrumental in acquiring a title loan, all you need is proper identification, proof of income and proof of clear title. The title has to be in your name, so if the vehicle was gifted by a family member or friend, you have to do a transfer of title, which is also an easy, affordable and fast process at the Department of Motor Vehicle in Texas. The title loan application and approval process is not a ‘nail biting’ experience. You fill out an online application and you get a free instant title loan quote based on the value of your car. You endure no hassle and get your money rapidly deposited into a U.S. bank account. It is so easy.

West Texas Title Loans

Texas Business and Code Law

In the state of Texas, according to the legal requirements executed by the Business and Commerce Code, there is a ten percent cap on interest rates. There are no feel limits and loans cannot go over 180 days. Therefore, if you were to rollover the loan amount- (applying again when you have paid off the first 30 day loan, you could only apply six times altogether (30×6=180).

Repossession Laws

You can avoid repossession by paying your premiums on time. However, if you get into financial hardship, it is best to have open communication with your lender. Most lenders will try to work with you. However, if the situation escalates where the loan has defaulted, the Texas law allows the lender to repossess the vehicle once breach of peace has not been disregarded. Your vehicle can be repossessed even if it is ten days late. That is why it is important to have an open dialogue with the lender.

Law Enforcement is unable to assist in the repossession process if the borrower has defaulted on their title loan. If the police does not follow due process, then that means your constitutional rights will be violated as a consumer. Due process is important to your rights. No court order is needed for vehicle repossession and most police department can act on an issued court order. However, prior to the repossession, you can speak to the lender for an amicable solution.

Towing and Recovery Services in Midland and Odessa, TX

B&B Wrecker and Recovery Service
(432) 570-0865

Action Wrecker Service, Inc.
(432) 697-8697

West Texas Auto Recovery, Inc,
(432) 362-4528

News About Title Loans in Texas

Read what celebrities will do to avoid repossession, hiding their vehicles, planes and other high priced items in secret and unusual places.

After vehicle repossession, a Texas man threatened an employee with a knife and was charged by law enforcement with assault.

Population and Household Income for the West Texas Area

Cities in this region include:

• Midland with a population of almost 100,000
• Since 2013, El Paso has a population of roughly 674,433
• Alpine has a population under 14,000
• Del Rio has a population of 33,867
• Odessa’s population is a little over 90,000
• Population in Fort Davis is 1,050

According to Forbes Magazine online, Odessa’s median income per household is $57,920, growing at a 5.5 percentage rate. The median income per household in El Paso was 41,129 in 2013 and 32,124 in the year 2000.

Unemployment Rate

Since the end of January 2016, the unemployment rate in EL Paso was 4.50%. Bureau of Labor and Statistics has it at 4.9% as of April 1, 2016. For Odessa, Texas, the unemployment rate according to the Bureau of Labor and Statistics was 5.4% since April 1, 2016.