Online Car Title Loans in Texas
Made Simple.

Apart from the cap on the interest rate, what are the laws that protect customers from predatory lenders? In Texas, one of the bodies that regulate car title loans is The Consumer Financial Protection Bureau (CFPB).

According to Texas regulations:

• Lenders and CABs must have licenses from the state of Texas to provide this type of service.

• All loans cannot exceed 180 days, and that includes renewals and rollovers.

• Lenders don't have the duty to inform borrowers via a court order about the repossession of their vehicle.

• All loan terms must be clearly stated, and information about all fees, interest charges, renewal costs, and terms must be included.

Before signing any agreements, it's crucial to carefully read through all your loan terms to know what to expect and how much money you'll have to repay.

At Titelo, clients with all credit types are welcome. Even if your credit history was turbulent at best, you don't have to worry that it will be the reason why you don't get accepted for a car title loan.

The most important thing with this loan type is having a vehicle in possession and a title to said vehicle that is in your name. Your car must be free from encumbrances, so it can get repossessed if you default on your payments.

Interest rates are another key aspect, as Ohio title loan interest rates vary, so finding a lender with competitive rates is crucial to reduce overall expenses.

The exact sum you'll be able to borrow depends on the value of your car, as well as the state's loan regulations. Title loans in Texas can amount to 25% to 50% of your vehicle's value.

This means that if your car's market value amounts to $5,000, lenders will be able to offer you loans between $1,250 and $2,500. However, it's important to remember that the loan amount is also influenced by your income and the lender's policies.

The truth is, if you have some long-term financial needs, then applying for a loan from the bank may be more beneficial. Still, not everyone has the luxury of doing so, as banks perform thorough credit checks and have a longer, more complicated application process.

And if you're in need of quick cash, this route may be difficult to take.

Instead, you can benefit from a Texas car title loan that may guarantee you money in one business day. Of course, this loan comes with higher interest rates and short term, which is something you should be mindful of when applying.

However, title loans are easy to take out and available to anyone with a valid vehicle title, an encumbrance-free car, and income, which makes them a solid alternative to more traditional bank loans.

Further credit counseling may be of benefit to you if you still have more questions. You can contact us, and our Expert will offer you some helpful information about all the benefits and risks associated with a title loan.