Title loans are a great way to get cash fast, and because you are using an asset as collateral, you can get a no credit check loan quickly and easily. That being said, many people misunderstand title loans and how they work.
Your Loan Depot offers many different types of fast cash loans, from cash advances to installment loans and title loans. Our application process is quick and easy, and if you are looking for a title loan, it can be even faster. We have many locations throughout Texas, including Airline, Bryan, and Conroe, to assist you. Below, we’ll take a look at the different types of title loans you can obtain. Stop by one of our offices today for assistance!
What is a Title Loan?
A title loan is where you use the title to a vehicle you own outright and put it up as collateral in order to secure a loan. You do not need to have good credit to obtain a title loan and the application requirements are looser because of your car. Simply put, the lender will put a lien on your vehicle, giving them rights to it if you do not meet your financial obligations. Once your title loan is paid off, the lien is released. Title loans are great for people with no credit or bad credit and need to borrow money quickly for expenses.
The average amount of fast cash taken from a title loan is around $1,000, but it does depend on how much your vehicle is worth. The repayment schedule varies, anywhere from one month to a more traditional installment-type payment loan. If you can’t pay, Your Loan Depot has the option to take your vehicle. However, in most cases, we can work with you for an individualized payment plan, such as interest-only payments until you get more financially stable.
It’s important to remember that title loans are meant to be short-term loans to meet a particular money shortfall you may be experiencing. If you are in need of a longer term, our installment loans may be a better option. By stopping by one of our Texas locations, one of our lenders will be more than happy to discuss your needs and get you the right loan product.
TYPES OF TITLE LOANS
Car loans are the most popular type of title loans we see here at Your Loan Depot in Texas for the simple reason that the vast majority of Americans own a car that they can use as collateral. Plus, it’s super easy to obtain a title loan when you own a car. All types of cars qualify, from a two-door to a larger four-door sedan. Remember when you apply for a title loan here at Your Loan Depot with the intention to use your car as collateral, we’ll need to see the title and see your vehicle as well in order to assess its condition before your fast cash money loan can be finalized.
Whether you own a personal pickup truck or you are an owner/operator and run your own trucking company, you can use your truck as collateral on a title loan. There are many different types of trucks from a semi-truck that hauls supplies, equipment, and cargo across the country to a delivery truck that delivers local produce to customers. As long as you have a free and clear title to your truck, our lenders can help.
SUVs, or Sport Utility Vehicles, all carry a title that you can use for a title loan. Those who have larger families tend to own SUVs so that they have more room to carry their kids and their belongings around, such as strollers. They are also popular with small business owners so that they can carry the tools of their trade around easily and still have them protected from the elements. This would include services such as grocery delivery, cleaning services, flower delivery, and more.
Many people don’t think about the fact that they can use their motorcycle for a title loan. This is because most people use motorcycles as a pleasure vehicle, not as their primary means of transportation. From taking long summer rides out in the country to taking trips across the country, many owners of motorcycles see them as for special and entertainment use only. However, all motorcycles have titles, whether you own a dirt bike or a street bike. Motorcycles make great vehicles for title loans from Your Loan Depot.
RVs, or recreational vehicles, also have titles and can be used as a source of collateral for your title loan. RVs are large motorhomes that double as living spaces as well. They are mainly used for travel, but some people live in them as well. They can be roomy and quite comfortable, and they do make great vehicles to explore new places in. Plus, when your mother-in-law comes to visit, you’ll have a nice, separate place for her to stay.
CHOOSE YOUR LOAN DEPOT FOR YOUR NEXT TITLE LOAN
Your Loan Depot offers bad credit loans at our locations in Texas. We understand that everyone is at a different stage in life, and right now you may be going through some hard times. Life can definitely throw us curve balls that can have us dodging bullets it seems. If you are facing an emergency, getting a divorce, or need to travel to see a sick relative, we can offer up fast cash loans to help you. We offer payday loans, installment loans, and title loans. We can help you decide which loan would be best for you. Our expert lenders can answer all of your questions, explain the terms, and assure you that there are no hidden fees. We believe in the best in customer service, so we want to make sure you are taken care of when you enter our title loan company.
Unlike other payday lenders, we purposely have remained small so that we can stay nimble, offer superior customer service, and change with the times and with our customers’ needs. We are constantly re-evaluating our services and checking in with our customers to ensure their needs are being met. We value feedback and love to hear from you about your experiences, what we are doing well, and what we can do to improve, especially in terms of what other financial services you may want to see. All of our offices, including those in Mansfeld and Pearland, offer the same lending services, so you can get the same great service no matter where you go. Our difference lies in our staff who strive to help you meet your needs with our no credit check loan products. Contact us today to get started!