Title Loans in Belton, Texas
Belton, Texas is located in one of the most thriving economic corridors in the United States. Located between the thriving cities of Austin and Dallas, the area ranks as one of the best places to live, work and raise a family. Still, the rising cost of living can mean that many households are living essentially paycheck-to-paycheck. For those falling on hard times or experiencing a cash shortfall, title loans in Belton, Texas can make the difference between getting through a crisis and succumbing to one.
Why title loans in Belton, Texas are the right choice for many residents
Title loans in Belton, Texas can give you the instant cash in hand to get through nearly any rough spot that life presents. Unlike other forms of quick or instant loans, an automotive title loan can put serious money in your hands, allowing you to take care of bills, rent or food that may otherwise be impossible to pay for in times of financial crisis.
Title loans have a number of major advantages over other quick loan types. Totally unsecured loans, like those offered by payday lenders, are often only able to be made in small amounts. Even secured loans, like those offered by pawn shops, may be tiny in comparison to the value of the collateral. Both of these types of loans often charge extremely high fees that work out to the equivalent of hundreds of percent APR.
On the other hand, a typical title loan can put amounts of $5,000 to $10,000 into the hands of the borrower, all in less than one hour! And while a title loan does use the borrower’s automobile as the underlying collateral, title loan companies will generally do everything they can to avoid taking actual possession of the vehicle. Instead, they will work with the borrower to ensure that the loan is paid off. And title loans usually come with flexible repayment plans. These usually allow for penalty-free early payment as well as flexible payment schedules.
Title loans never use or interfere with credit
Many people want to know, do title loans go on your credit? The answer is that Belton, Texas or Killeen TX title loans will never interfere with your credit rating. What’s even better, you don’t need to have a good credit score – or any credit score for that matter – to get a title loan. Because title loans are secured by the borrower’s car, even those with poor credit histories, including recent bankruptcies, may be instantly approved for five-figure title loans. To see what you are approved for, take a minute to fill out the simple web form found on this site.
Title loans can get you serious money with low risk
Even if you don’t own a home, a title loan can get you the kind of money that only a reverse mortgage or other real-estate-backed loan could provide. The title loan business is competitive, with lenders looking to give borrowers the highest possible loan amounts for any given car. This is great for borrowers, as it results in both low rates and high loan amounts.
But unlike mortgage companies and banks, who often make a great deal of money from repossessing real estate that is posted as collateral on loans, title loan companies rarely seek to take physical possession of the car. The collateral on title loans is only used as insurance against the worst case scenario of the lender completely defaulting. This means that not only are title loan borrowers able to continue using their car fully, they face little chance of its actual possession by the title loan company.
