Title Loans In Weslaco, Texas
Quick cash may sound like a fake promise, but you really can get the money you need fast and with ease when you use a car title loan. Using nothing more than your vehicle’s title, you can get a loan in just a few minutes that will put money into your account in a few hour. All you need to get started is a clear car title with no liens against it.
Title loans in Weslaco can get you your loan money faster than most other types of loans because the loan value is secured by your vehicle’s title. When you get a title loan in McAllen or anywhere in Texas, your lender uses your car’s title paperwork as collateral for the amount you borrow. This lets them know that you are invested in the loan, as well, so they feel comfortable foregoing the lengthy application process and background check and instead get you your cash fast.
You don’t actually give up the car. All your lender needs is the title sheet. Then, once you have paid your loan back plus interest, the title goes straight back to you. You keep the keys while you borrow, though, so that you never lose access or functionality when it comes to your vehicle.
What You Should Know About Texas Title Loans
Title loans in Weslaco are a quick and easy way to borrow, but they are still a loan and a major financial decision on your part. That is why knowing a little bit about how online title loans work and what you should look for is helpful.
Title lending is a safe and legal way to borrow in Texas, but just like with any part of the loan industry there are loan sharks out there posing as title lenders and trying to get your information. One of the simplest ways to make sure you are working with a title lender who is worth your time is to verify that your lender is properly licensed through the Texas Office of Consumer Credit Commissioner. For a lender to legally service loans in Texas, they must be licensed. An unlicensed lender is operating illegally, and should not be trusted with your information, nor that of your vehicle.
When you feel confident in your lender, make sure you understand your loan and what you are responsible for if you accept it. Weslaco title loans are, by design, meant to be smaller, short-term, manageable loans that can be paid down in one to a few months time. Don’t commit to a loan that you don’t think you can manage in the short term, or it could become a long-term burden.
Before you ever commit to a loan, you should receive a written loan agreement detailing the terms of your borrowing. Read over this loan agreement carefully, and if there is anything that you do not understand about your loan, ask your lender before signing off. When you look at your loan agreement, be sure to pay special attention to a few key figures that tell you what you’ll be responsible for at the end. These include:
- The amount you will actually be borrowing
- The interest rate to be charged to that amount
- What other fees will be included with your loan
- How long you will have to repay
If a lender is not willing to make this information clear before you borrow, don’t commit to the loan. Instead, report the lender to the Consumer Financial Protection Bureau.
For assistance understanding your car title loan estimate, the terms of a potential loan, or to get set up with a loan that you can trust from the beginning, you can always count on our team. We can explain your potential loan to you, or even help you find a loan customized to meet your needs. All you have to do is call.
