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Business Loan Introduction To Title Loans in Burleson, Texas
Are you in need of emergency funds to help you get by? Title loans, also called car title loans in Texas, are a great way for you to access the money you need quickly. Title loans in Burleson, Texas, are a fast and easy way for you to get the money you need. We’ll explain how title loans work, the laws that apply to title loans in Texas, and how to apply for a title loan in Burleson.
What Are Title Loans?
Title loans, also called car title loans, are short-term loans that are secured by the equity in your vehicle. You use your car title as collateral to borrow money, and the lender will place a lien on the title until you repay the loan. Title loans can be a great option for people who need quick cash and don’t have great credit. Title loans are typically for a shorter period of time than traditional loans and the amount you can borrow is usually less, but you can usually qualify for a title loan with bad credit or no credit.
Are Title Loans Legal in Texas?
Yes, title loans are legal in Texas. The Texas Office of Consumer Credit Commissioner (OCCC) regulates title loan lenders in the state. They set the maximum interest rates and loan amounts that lenders can charge borrowers, as well as other restrictions. All title loan lenders in Texas must be licensed and registered with the OCCC before they can loan money.
Title Loan Requirements in Texas
In Texas, there are certain requirements that you must meet in order to qualify for a title loan. You must be 18 years old or older and have a valid driver’s license. You must also own a vehicle free and clear of any liens. This means that you must own the vehicle outright and not owe any money to a financial institution or other lienholder. Additionally, the vehicle must be registered and insured in the state of Texas.
How to Apply For a Title Loan in Burleson
Applying for a title loan in Burleson is simple and fast. To apply, you will need to fill out an application and provide the following information:
- Your driver’s license
- The vehicle title
- Recent proof of income
- Proof of insurance
- Proof of residence
- References
Once you have provided this information, you will be asked to provide a post-dated check for the amount you wish to borrow plus the interest and fees.
Frequently Asked Questions (FAQs) About Title Loans in Burleson, Texas
Can I get a title loan if I have bad credit?
Yes, title loan lenders usually do not check your credit when you apply for a loan, so you can still qualify even if you have bad credit or no credit.
How much can I borrow with a title loan?
The amount you can borrow with a title loan depends on your vehicle’s value and the laws in Texas. The maximum amount you can borrow is 70% of the value of your vehicle.
How long do I have to repay the loan?
In Texas, title loan lenders must offer loan terms of at least 180 days and no more than 365 days.
What if I can’t repay the loan?
If you can’t repay the loan, you may be able to extend the loan term or refinance the loan for a longer repayment period. However, if you default on the loan, the lender may repossess the vehicle and sell it to repay the loan.
Apply Now
If you’re ready to apply for a title loan in Burleson, Texas, TheGuaranteedLoans can help. Fill out our online application and we’ll connect you with a lender in your area. Remember, TheGuaranteedLoans is not a lender and does not offer loans, but we can help you find a lender.