How do Title Loans in Big Spring Work?
When you apply for car title loans Big Spring, you use the title to a vehicle you own outright as collateral to secure the loan. The title has to be in your own name and it can’t have any liens against it. How much you can borrow is based on what your vehicle is worth; you can typically borrow between 50 and 75 percent of your car’s value. When you borrow the money, you exchange your original title for the loan. The lender holds the title as security in case you go into default, while you’re free to continue driving the car. Once you repay the loan, you get your title back.
Because title loans in Texas use such a valuable asset to back your loan, lenders are able to bypass the usual credit requirements. In fact, no title lender in the Platinum Lending family will ever check your credit, making these loans ideal for people who have made credit mistakes in the past and need another chance. You can be approved whether you have good credit, terrible credit or no credit at all.
How to Apply for Big Spring Title Loans
You don’t even have to leave the comfort of your home to begin the application process with Platinum Lending. We have a specialized car title loan estimate form right here on our website that will let you know how much money you can borrow against your vehicle. We only need a little bit of information to get started, including:
- your car’s make and model
- your car’s age and mileage
- your full name
- your zip code
- a number where you can be reached
When you plug in this information, our system will automatically generate a reliable loan estimate based on your car’s age and make. How much you can really borrow may be slightly higher or lower than this estimate, depending on your car’s condition.
At this point, you’re committed to nothing. You don’t have to through with the loan if you don’t want to. But if the numbers you see have gotten your interest in title loans Big Spring, then the next step is to let us give you a call at a time that’s best for you. We can complete the bulk of the full application over the phone, or we can set you up with a friendly, professional member of our Platinum Lending team in your area for a face-to-face application. Either way, we will then need:
- a copy of your driver’s license or other photo id
- proof of address
- the original car title
- a copy of your registration
- proof of income
- Texas Rules and Regulations
In the state of Texas, you must be at least 18 years old and own your car outright to apply for a car title loan. You can qualify with a car, truck, van or commercial vehicle as long as it’s in your own name. We even provide motorcycle title loans in the Lone Star State.
Another unique feature of our car title loans is that you don’t have to be working to qualify. As long as you have income from some reliable source, such as child support, disability or retirement, we can approve you.
Big Spring Title Loans Can Help!
When you’re in a financial jam and you know your credit isn’t the best, finding a solution can be extremely stressful. Let us remove that stress for you. Car title loans can provide you with the money you need in as few as 24 hours and without the hassle of a long, complicated application. Best of all, we’ll never check your credit. Fill out our online estimate form and see how much money you can qualify for today!
