Title Loans In Hornsby Bend, Texas?
Have you ever wondered if there was a better way to borrow money than asking people you love to loan you a large sum even out of their own charity? Unless you’ve got excellent credit and a high income to back you up, a trip to the bank probably won’t help your situation. Did you know though that there are ways to borrow money that are just like earning it? Secured loans are loans that you can take out using equity in your assets, and by far the best secured loans to use are auto title loans in Hornsby Bend, Texas.
Auto title loans are not run through mainstream institutions such as banks or credit unions. Instead, they are run by independent agents who can help those who have lower income and restrictions on their credit. Title loans are generally issued on the basis of a vehicle’s selling value, so if you own a vehicle that could sell for $15,000 for example, you could generally expect to receive a loan for about $7,500 if the vehicle was in great condition. The reason auto title loans are issued for lower than a vehicle’s value is to make sure they do not depreciate to a point where they could not be sold to cover the loan cost just in case the vehicle needed repairs to it.
Several Advantages Of Hornsby Bend Title Loans
Auto title loans Hornsby Bend, TX are a great choice because you can do more with them than you can do with most other small-dollar short-term loans.
1. You get to keep driving your vehicle when you take out a car title loan
You might be surprised to hear this, but you don’t have to give up your vehicle to the lender even if it is technically pledged as collateral because the lender will hold onto its title instead. What happens is your vehicle title will have a lien put on it indicating you have to pay back the loan to reclaim full possession of your title. But once you do that you can have that lien removed.
2. You’ll usually have a whole month to pay car title loans Corpus Christi back
Hornsby Bend and the general Corpus Christi jurisdiction have their own regulations on title loans, but generally they’ll allow them to last at least 30 days. Car title loans Hornsby Bend are meant for the short-term and have payments due at certain periods, but generally these payment periods are longer than other loans such as payday loans or cash advances.
3. You don’t have to pass any credit checks
Because car title loans are secured, lenders usually don’t have to determine the risk of the borrower they’re lending to. They may occasionally ask that the borrower have income, but they usually won’t do inquiries on credit or accept or deny applications based on the borrower’s credit.
The Application Steps For Hornsby Bend Title Loans
The application starts with us so that we can take down information about your vehicle, supply it to the auto title loan lender you choose and speed the process for receiving your loan. You’ll fill out our fields about your vehicle, fill out your contact information and you’ll get a title loan estimate. That estimate assumes your vehicle is in great condition, and once we pair you up with a lender in Hornsby Bend, you’ll need to bring it to be inspected so they can verify your acceptance for the loan. Generally you’ll know pretty quickly if you qualify for a car title loan, but you’ll need to have a driver’s license or other state-issued photo ID and your vehicle title with you so that the lender knows you meet the following legal requirements:
- You are 18 or older
- You are a Texas resident
- You own your vehicle completely
