Title Loans in Leon Valley, Texas
Leon Valley Title Loans Are Different Than Most Other Loans
Sometimes when you need money, you try to look for things you can sell that won’t be too sentimental in value or won’t be too important down the road. It can be hard though when you need to make sacrifices, and sometimes you wish there was a better way. But did you know there’s a kind of loan you can take out without having to sacrifice any personal belongings? It’s not a bank loan, and it’s a kind of loan you can get even if you have terrible credit or none at all. It’s not a pawn loan either, though it is a secured loan with some similarities. What you can do if you own a vehicle is borrow against it through a title loan, and in the State of Texas, title loans Leon Valley are 100% legal.
Our company is connected with auto title loans online Frisco as well as other areas in Texas. What we do is help people understand how auto title loans work and how simple they are to apply for. The way they work is you turn your vehicle title over to a car title loan agency in exchange for a cash amount that you’ll usually have about 30 days to repay. But in the meantime you can keep driving your vehicle, and once you pay back the money you’re given back the title.
What Makes Leon Valley Title Loans Different?
The reason your credit score or bankruptcy history doesn’t matter with vehicle title loans Leon Valley, TX is because the lender is not lending based on the risk they see in a borrower. They’re lending based on a vehicle’s selling value, and by them holding the title they have the vehicle’s value in hand basically. But you also have other advantages with auto title loans that even other small dollar loans don’t have.
1. You can usually borrow up to half of your vehicle’s amount
You aren’t going to be able to borrow cash in the full amount of your vehicle because the lender has to account for depreciation that could happen in between when they issue the loan and when its repaid. But as Texas doesn’t cap what a title loan amount could be, you could borrow as high as $10,000 if you own a really new or high quality vehicle. This can make vehicle title loans a little more attractive than payday loans or cash advances.
2. You May Not Have To Have A Checking Account To Take Out A Vehicle Title Loan
It’s recommended you have a bank account with checking or savings accounts because it can speed up the process of receiving money, but if you’re one of the people who prefer not to have a bank account, there are options for you as well. Unlike most payday loans, title loan stores can usually arrange for you to receive cash or checks for your loan. They may still ask to see some form of income when you visit their store.
Getting Your Vehicle Title For Auto Title Loans in Leon Valley
While our auto title loans in Leon Valley have most of the details completed online, you have to bring your title to the lender so they can make sure the vehicle is yours. The online application is where you put down your vehicle’s description as well as the year and mileage it has on it, and then once you get a loan estimate you can arrange to meet the lender to complete the paperwork and payment agreements. In addition to bringing your vehicle and title, you’ll need a government photo ID that also verifies the following:
- You are at least 18 years old
- You’re a permanent Texas resident
- Your vehicle is kept in Texas
A driver’s license is usually used for this but you could also bring a passport, permanent resident ID or other government document with a photo of you in it.