Title Loans in Corpus Christi, Texas
If you’re ever a little short on cash and need some extra to pay rent or buy necessities, then a Corpus Christi title loan can be the perfect option if you’re at least 18 and own your car or truck. Let’s take a closer look:
Title Loans Corpus Christi: All You Need to Know about Car Title Loans
A title loan is a personal loan, and you can use the money for any purpose. These loans are also short-term. The period can be as short as a day and no more than 180 days, but most title loans in Corpus Christi range from a week to a month. Maximum loan value is determined based on the book value of your car, but you can take out less than that if needed. If you only need a couple of hundred dollars, limiting your loan amount to just that can keep your overall obligation to a minimum.
Most other loans aren’t like this, and the typical personal loan available from a bank is quite different. Prosperity Bank, which has multiple branches throughout the Corpus Christi area, doesn’t even offer short-term, secured personal loans like this. Not only do you have to be creditworthy based on its standards, but you have to take out $1,000 or more and agree to a term of three months or more. Consider that approval rates for loans at banks like First National and Wells Fargo are well below approval rates for title loans.
Title Loans Corpus Christi: How to Apply Online with Platinum Lending
Applying for online title loans is simple:
- Navigate to the Platinum Lending website.
- In the menu, select Apply and then Car.
- Enter the year, make, model and style of your vehicle.
- Fill in your estimated mileage or an odometer reading.
- Enter your full name, phone number, email address and zip code.
- Check the box to indicate you agree to the Terms and Conditions.
- Click the blue Submit button to finish the application.
You’ll receive a title loan estimate within seconds, and if the information you provided is accurate, then this number will be an accurate measure of how much you can borrow. You’ll then be contacted by a loan representative who can discuss any concerns you have and explore options such as bad credit title loans. When you have the information you need and are ready to proceed, he or she can help you finalize the loan. In many cases, everything can be finalized online, which is very convenient.
How Title Loans Are Governed in Texas
There are laws that apply to title loans in Texas that are in place to provide consumer protection. Texas does cap interest rates but doesn’t limit how:
- Often you can take advantage of short-term loans
- Much you can borrow
- Short the term and repayment period can be
The interest rate cap is 10 percent, but there is no cap on fees. However, the lender must indicate to you in writing the full amount the loan will cost you should you take the entire term to pay it back. Lenders are licensed and monitored by the state.
Advantages Title Loans Have Over Other Personal Loans
Title loans in Corpus Christi are not only a better option than personal loans from banks in most cases, they’re a better option than other types of short-term personal loans, such as payday loans, as well. Since title loans are secured, acceptance rates are higher than 99 percent. There’s also no need for a credit check, which means that you can have bad credit, a bankruptcy or no credit at all, and no income check is needed either, which means that your income or employment status aren’t a factor.