Are you looking for a way to get quick cash by using your car title as equity for a loan? It’s our mission at Car Title Loans 123 to find the best rates and terms for car title loans in Austin, TX. The best part about these types of secured loans is that you don’t need to have a good credit score and most people can qualify to get the cash that very same day when they apply online.
To get started, all you need is to have a lien-free title to your car in your name and you must be 18 years of age or older with a valid ID. The amount of cash you can borrow will depend on the value of your vehicle as well as your ability to repay the loan.
Here’s how it works: a lender will use your car title as collateral for the loan and you’ll make monthly payments until the loan is paid off. Once the loan is paid off, you’ll get your title back. It’s that simple! Unlike most personal loans, a vehicle equity loan gets you the cash you need right now. Besides that, as long as you have a lien free vehicle title, you don’t need to worry about what you need to qualify. Any local lender that issues online title loans in Texas will be ok with your car’s title as collateral. That way you can use your vehicle’s equity to get much more cash than you would ever expect with a bank loan or payday loan. Auto title loan amounts in Austin will start at $2,500 and go all the way up to $15,000 for vehicles that are well qualified.
The process is simple and can be done entirely online. Just fill out our short form and we’ll get you connected with a title loan lender in your area. The initial loan underwriting can be completed entirely online and you only need to bring your vehicle in for an inspection as the last step. Choose from many licensed inspection locations in Travis County or have the lender send an agent to your home or place of business to check the vehicle. Once you’re approved, the lender will contact you to finalize the loan and you could have cash in hand that very same day!
Besides applying online you also have the choice to meet with a company in person at any lending location in Texas. Some applicants would much rather meet with a finance company directly versus applying online and Austin has many local title loan companies that take local applicants. That means you can meet with a lender in North Austin or at any number of locations near the University Of Texas and ultimately get cash for your vehicle in less than an hour!
There are many benefits of getting an auto title loan, including:
– No credit check is required. Unlike personal loan companies, secured lenders in Austin aren’t concerned with your credit history and most funding requests are approved that same day. It may take a bit longer if you’re looking for a bad credit title loan or trying to get a title loan on a salvage title, but even in these scenarios, the underwriting process is fast and effective.
– Quick and easy process. Do you have a paid off car title? That’s the main qualification required for most Texas title loan companies. A direct lender wants to know you have equity in your car and there’s something for them if you happen to default on the loan!
– Get cash fast, often the same day you apply! Look for the money to hit your bank account within one business day and sometimes less if you’re working with a local lender in Travis County.
– Competitive rates. The finance charges are going to be high with an online title loan but less than what you would see with a payday loan or cash advance.
– You get to keep your car and drive it while you make payments. There’s no sense in handing over the car as collateral. Give your lender the car’s title and keep driving your vehicle.
The quick answer is yes. While your credit score isn’t a primary concern for vehicle title loan companies, it’s still important to have a general idea of what’s being looked at when you apply. Here are the main things that secured lenders will consider:
– Can you afford the monthly payments? The lender will want to know that you’re able to make timely payments on the loan amount borrowed and the interest charges being assessed.
– What’s the value of your vehicle? This is going to be the biggest factor in how much cash you can borrow and ultimately depends on the make, model, and year of your car or truck. Most title loan amounts issued in Austin, TX are going to be a bit higher than in other parts of the state and that’s because the resale value of most cars is often higher within the metro area.
– How much can you afford to pay upfront? Some lenders may require a down payment while others won’t offer a large loan amount unless they are confident that you can make the monthly payment each month.
Apply now for title loans in Austin by filling out the short form on this page. Car Title Loans 123 can get you connected with a licensed title loan lender in your area and you could have cash in hand within 24 hours!