Title Loans in Slaton, Texas
In many cases, the need for extra cash arises quickly, and the need may be urgent in nature. For example, you may have been in a car accident and need to pay your insurance deductible, or you may need to pay for home repairs after a plumbing leak issue. It may seem like you have little or no options available when trying to get access to quick cash, but the best solution may lie in your vehicle. When you apply for Lubbock TX title loans, you can take out a loan that uses the equity in your car as collateral.
How to Apply for Slaton Title Loans
Before you can get a title loan estimate from us to learn what loan amount you may qualify for, you need to fill out our online loan application. This online loan application only requires a few minutes of your time and is designed to be easy and straightforward to complete. Once the completed form has been submitted to us, we will provide you with a free estimate for your title loan so that you can decide if you want to proceed with the application for your title loan.
Legal Regulations of Slaton Title Loans
If you are thinking about applying for title loans Slaton or other similar loans in the local area, it may have crossed your mind that a car title loan seems too good to be true. After all, we can typically close and fund your car title loan request within a couple of days or less. As wonderful as title loans Slaton sound, you can rest assured that they are legal in Texas. You are legally able to take out a loan that uses the equity in your car as collateral. However, the car’s title must be in your name, and you must be at least 18 years old to apply. There are also regulations regarding the maximum fees and interest charges that can be charged on a title loan.
Benefits of Using Car Title Loans
Car loans may have slightly higher interest rates than some of the other types of short-term financing available, but this is not always the case. Regardless of the interest rate, however, you will find that our title loans have an easy and fast loan application process. The underwriting process is also straightforward and simplified, and you may love the fact that these are short-term loans. After all, the last thing you may want to do is take out a long-term debt that drags down your budget for years to come.
How Car Title Loans Are Different
Title loans Slaton are strategically different than payday loans and other short-term financing solutions available because they use your car’s equity as collateral. This is a type of secured loan, and because of this, you may find that you can qualify for a larger loan amount based on how much collateral is available in your car. Underwriting may be easier, and in some cases, there is much less emphasis on your credit rating when you apply for a title loan rather than other types of short-term loans.
How to Review Your Car’s Title
Before you apply for title loans in Texas, you need to carefully analyze your available equity. Equity is determined by subtracting the amount you currently owe on your car loan from the car’s current market value. Most car title loans are issued to those who have a car owned free and clear without a loan on it, but you may still qualify for a car title loan if you have a very low balance remaining on your loan. Remember that you will need to prove that you hold title to the car in your name in order to qualify for a title loan.
Title loans in Slaton may be just what you need to overcome your current money issues. The best way to learn about the loan amount and loan terms you may qualify for is to apply for your title loan online through our website today.