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You must have thought about car title loans or even heard of it. And you also must have noticed that the loan comes with so many advantages. They are short-term loans that use your car instead of your credit as collateral to offer you quick cash. The value of your car plays a vital role in determining how much you can receive.
But first things first: what is a car title loan? Are car titles loans available in Houston, Texas? How do TFC Title loans help? Hopefully, at the end of this article, all your questions and doubts about car title loans will be addressed, and you will discover another option of getting cash quickly when you are in critical need.
A car title loan refers to the loan you obtain by using your vehicle title as collateral. In other words, it simply means using your car to borrow money. To secure this type of loan a borrower will have to temporarily tender the original copy of the vehicle title, and also allow the lender to place a lien on the car title. When the borrower pays the loan, the original copy of the vehicle title is restored to the owner and the lien is removed from the car.
Yes, of course. Our car title loan has become very popular for so many good reasons and especially for how our services are fast and reliable. TFC title loan has made it very simple and easy to secure a loan here in Houston, Texas. We ensure that you get your cash as soon as possible once you have been approved without unnecessary delay. You can get your cash in your hands within 24 hours. Even getting your cash that same day is also possible because we have authorization from our Texas branch to close all applications as fast as possible.
In TFC title loan our goal is to meet your needs no matter what it takes, and to achieve this we offer quality customer service that is second to none at all times. And also ensure that all your questions are satisfactorily answered. We are readily available to walk you through our simple and efficient processes to make you understand how our car title loan services work. We have the flexibility of applying over the telephone when you have decided on the option that is suitable for you. No need to worry about hidden fees or additional charges for early loan repayment at TFC Title Loans.
If you are considering the ideal time to make use of a Title Loan service and you are currently in need of funds as a matter of urgency, then no other time could be better. Our short-term car title loans have reasonable interest rates, unlike what is available at a payday lender.
And because we make your cash available as soon as possible you could use it to sort out whatever your needs are, like;
The efficient and reliable services we offer have made the residents of Houston; Texas rely on us whenever they are facing matters of cash urgency. This means that TFC Title Loans is the trusted option when money is needed on short notice within a day or two. It is your money, and you can use it as you please. So whatever you use the money for is none of our business.
Applying for a car title loan with us is quite simple in Houston, Texas. We follow a specially designed process to provide a convenient experience without stress. It only takes a few minutes to complete our application, and we will process the application upon your arrival at our office.
TFC Title Loans are subprime loans given to borrowers have good credit, using their auto equity as collateral. This allows our consumers to borrow money to an amount determined by the value of their vehicle.
When you apply for our car title loan, you are required to tender a proof that legally certifies you as the owner of the title of your car. It is important that the title of your car is clear and that your car loan is paid off or almost paid off. The debt is secured by the auto title or pink slip, and the vehicle might be repossessed if you default on your payment of the loan.
We carry out a credit check, and sometimes our company might also require proof of income together with conducting a credit check. The good news is that having bad credit does not necessarily disqualify you from getting approval. This is why we are a considered a typical subprime loans because we care for consumers with bad credit and a low income, so our interest rates are somewhat higher than that of conventional banking loans.
We provide cash more than other lenders and even up to 80% of the wholesale of Kelly blue book. But what determines the amount you can borrow is the value of your car, and this is based on its wholesale price. It is necessary for you to know the value of your car before approaching our company. A popular resource that assesses the value of your car is the Kelly Blue Book, popularly abbreviated as KBB. This is an online tool where you can search for the manufacturer of your car and the model. It also includes other necessary options to help you calculate the value of your car.
Having foreknowledge of the estimated value of your car guides you in knowing the maximum amount of loan you can borrow with your car equity. If you have used the KBB online tool to evaluate your car, then you can correctly determine the estimated pricing for your used car.
The trade-in value (which sometimes is equal to the wholesale value of the vehicle) is most informative when applying for a title loan. Lenders use this trade-in value as a factor in their calculation to determine how much they are willing to lend you in cash from that value. Our company offers within 25 to 50 percent of the trade-in value of your car because we have to ensure that we cover the cost of the loan if there will need to repossess and sell off the car.
The law regulating how companies can structure their car title loan varies from state to state. In TFC Title Loans, the law imposes interest rate caps on small loans up to $2,510. But it is also possible to borrow money that exceeds that amount, provided the car title collateral has enough value, and in such situations, TFC Car Title Loans charges higher interest rates.
It is not strange that life happens sometimes and puts us in a situation where we will need some cash immediately, and we cannot afford to wait until the next payday. TFC Car Title Loan provides a mean to get that cash you need quickly, and that is usually within a day or less.
Some will like to think of our car title loans to be for those with bad credit or as a last resort for those in a desperate situation. Well, we would not challenge that. When you repay your car title loan on time, the interest you pay on the loan you have obtained including the ease of access to the cash and the quick availability makes it all attractive as a simple means of getting cash.
For you to qualify for a car title loan, it is required and important that you have paid off your car loan and no further payment is required. The resale value of your car determines the highest amount of loan that you can secure, so the better the condition of your vehicle, the larger the amount of loan you can receive.
Our loan usually has a 30 days term unlike that of a traditional or conventional loan, but there are situations where it could be longer. Anyway, you would not want to make it longer because that convenience in paying back, coupled with the less required paperwork is reflected in the interest rate, which will translate to a higher interest rate. Making the interest rates higher for convenience has the advantage of encouraging you to pay back on time, and it also makes a revenue stream for our company which provides the loan.
Should you want to extend the life of the loan beyond a month or even up to many months, the interest rate makes it highly prohibitive and unattractive to do such, except you are willing to bear the full weight. There are cases where the high-interest rate works it out for an extended loan so that you end up owing twice the amount you initially borrowed! If you cannot pay back the loan that your car is liable to be repossessed. Therefore you have to ensure that you have a realistic plan on how to pay back the loan before applying.
Are you in a situation where you necessarily need cash, and you are considering a car title loan? Then TFC Car Title Loan is a great way to resolve that need. Our service makes the cash you need quickly available to you that same day if approved or sometimes within hours. Have it in mind that a bank or credit union takes days to process a conventional loan before you get your check, and sometimes you need the cash immediately and cannot wait for several days.
It is advisable to use car title loans or payday loans for emergency cash needs. Regardless of the option of loan you apply for from us, you will have access to physical cash quickly. While this is good, sometimes there are problems with borrowers when they cannot pay back the loan on time.
Short-term options for fast cash are highly risky if considered for personal needs, except the borrower has a reliable means to pay off the loan without defaulting.
Borrowers will have to carefully go through their personal “best practices” when it comes to debts. From time past we have tried to regulate all our customers on the same page of Best Practices, but this has proven difficult because no one approach is going to address everyone’s situation.
Times are changing, more and more companies are offering fast cash even over the internet. This convenience of online lending has attracted new customers of car title loans to us and in most case presents the opportunity to others.
Whether you obtain your loan from a conventional bank, online lender or a physical brick and mortar office, paying off the loan is of utmost importance despite where you have obtained it. So crafting a realistic budget and making necessary plans to pay up the debt before the expiration of the loan term is very necessary. Else you may get into further trouble and even face the option of having your vehicle repossessed.
TFC Car Title Loan has been a great option for those people who are critical situations and need cash quickly but are not able to get such fast assistance they need from conventional banks. Therefore we give you the means to address your need as easily and quickly as possible. Finally, TFC Car Title Loan is a last resort for loan seekers who have been futilely seeking for loans, especially with poor or bad credit.