Title Loans Allen, Texas from Loan Cheetah
Looking for ways to get hold of some quick bucks? Well, there are other, much better ways of borrowing money other than a payday loan in Allen, Texas. If you currently own a vehicle, you are pretty much eligible for a car title loan in Allen, TX outright.
Understanding Car title loans in Allen, TX
Meaning: A car title loan is usually defined as a short – term loan wherein the borrower makes use of his/her car title as collateral in exchange for the loan amount. Other words that are used to describe this medium of exchange or quick financial solutions to your unexpected or unplanned are, ‘pink – slip loans,’ ‘auto title loans’ or simply ‘title loans.’
Features of a title loan in Allen
- SHORT – TERM LOAN: A car title loan is usually given for a very short period, which means by nature this is a short-term loan. The duration essentially varies anywhere between 15 to 30 days, depending on the laws applicable in the state along with the company policies.
- CAR TITLE AS COLLATERAL: Under car title loans in Texas, the borrower is required to put up his/her car title in the form of trust in exchange for the loan amount. However, this does not mean you will be barred from driving your vehicle around. You can still treat it like it’s your own and make use of it for your transportation purpose.
- LOAN AMOUNT: The loan amount is estimated on the basis of the present value of your vehicle in the market.
Applying for a car title loan in Allen, Texas
- You can either apply by visiting any of the location stores of the lending company or simply obtain the application form online, and fill it out with the required details or information.
- A short procedure involving the submission of the clear title of your vehicle, proof of residency and income and a recent bank statement is required.
- You will be given a free estimate within a day’s time to help you decide whether or not you want to continue toward opting for the loan. This estimation is made on the basis of the condition of your vehicle.
- Once you have read through the terms and conditions and find yourself fully satisfied with the provided contract, you can sign up for the loan and get the cash you need within the shortest possible time.
Current situation of Title loans in Allen, Texas
The good news for borrowers in Allen, Texas is that the House Bill 2592 and House Bill 2594 was passed, making it much easier for borrowers to check the lender’s background and the true cost of the loan before they commit to the same.
Despite the above given provision, if you still face problems with lenders, you can simply contact the following:
- Texas Department of Savings and Mortgage Lending
- 2601 N. Lamar, Suite 201
- Austin, TX 78705
- Email: complaintsubmission@sml.texas.gov
- Fax: 512-936-2003
Pointers To Remember:
- As far as title loans are concerned, lenders don’t pay attention to the borrower’s credit history as a criterion of eligibility.
- Only licensed lenders are legally permitted to carry out such operations. Therefore, make sure you engage with the right lending company.
- Most companies offer professional assistance to help you through the process. Optimize their help if you have any problems.
That said, if you are a resident of Allen, Texas, looking for the most convenient and hassle-free way to deal with all your all of a sudden arisen expenses, securing the title loans in Allen, Texas is the best option to choose. Just give a call to the nearest title loan storefront in your city to get your free estimate today!
