How You Can Use Auto Title Loans In Manvel, Texas Even With Bad Credit
There can sometimes be no worse feeling than that which you experience when you have your monthly rent due and fear that you won’t be able to make the payment. It may not have even been your fault. Maybe a physical injury at work or a family situation made it impossible to come up with the money you usually have for your payments. But even if you do find yourself running short of options besides asking people for money, you might want to consider auto title loans in Manvel, Texas if you own a vehicle. It doesn’t have to be a regular car, truck or SUV even; vehicle title loans also can be used with motorcycles.
The reason they are known as vehicle title loans is because vehicles are used as collateral with these loans. But instead of having the vehicles stored away in a holding location such as pawn shops do, vehicle title loans have the lender hold only the title while the borrower keeps using their vehicle. What the lender does is valuate the vehicle and see how much they can issue a loan for, which will usually be between 25-50% of its current market value. And then they’ll issue a cash loan that you’ll usually have around 30 days or so to repay, but you can sometimes have an extension on that.
All Credit History Is Accepted With Our Auto Title Loans In Manvel, TX
Probably the biggest question that comes up for new auto title loan applicants is “do title loans go on your credit?” We our proud to say our auto title loans in Manvel, TX do not consider credit when you apply, and they do not go on any future credit reports because our lenders do not contact any of the credit bureaus. This is because vehicle title loans are secured and have risk offset by your vehicle’s value as well as your income, so they are not limited to simply applicants with fair to good credit. So as long as you own your vehicle, have suitable income and meet all of Texas’s title loan laws, your credit history is a non-factor.
Clearing Your Title For Auto Title Loans In Manvel, TX
One of the most important steps to take in getting approved for our auto title loans is making sure your car title has no liens on it. Usually when you take out a loan to buy a vehicle, the bank or dealership still retains part ownership in the vehicle until you pay it off, and therefore your title will still have a lien on it. It may have a lien on it for other reasons such as a court order or government-related issue. You’ll usually need to contact the lienholder first to get the lien removed from the title. If a lien is still listed on your title that is outdated and has been taken care of, you can usually go down to the DMV with documents of proof that it’s been taken care of, and then for a small fee have it erased.
Final Steps To Applying
If your vehicle is in good condition and you’ve taken care of any issues necessary to clear your title, you should be eligible immediately for car title loans Houston. You will need to prove you are 18 or older, live in Texas and have some sort of income, so make sure you have these documents handy:
- Driver’s license or another government-issued photo ID
- Utility bill, bank statement, tax return form or another document showing your income
You’ll need to complete our online title loan estimate form first filling in information about your vehicle to get the right quote. Then you’ll bring your vehicle to one of our lender’s stores and have it inspected to make sure it’s in proper condition, and you’ll sign your paperwork with your loan terms. After that, it should only be a matter of hours till you know you’ve been approved and receive your title loan money.
