Title Loans in Harlingen, Texas from Loan Cheetah
If you ever get in a tight financial spot and need money fast to pay some bills or get you through the week, then title loans can be a great option. Let’s take a close look at how title loans in Harlingen work.
Title Loans Harlingen: All You Need to Know about Auto Title Loans
Auto title loans are personal loans that you secure with a title of a car, truck or even a motorcycle than you own outright. Practically any vehicle with a valid title has value, so it doesn’t matter how old your car is or how many miles are on it. Even salvage car title loans are an option. Although your title is used as collateral, the vehicle itself is not. That means that you retain control over it and can drive it to work or wherever else you need to be.
Title loans in Harlingen tend to give you a lot of flexibility in how much you can borrow, how long you can borrow for and how fast you can pay off the debt. That’s quite different from the loans provided by area banks usually. First Community Bank or Lone Star National Bank, for instance, may demand a strong credit history and a borrow amount of at least $5,000. In addition, banks like Falcon International Bank and Wells Fargo Bank may demand a loan term of three to six months and include early repayment penalties in the agreement to ensure a certain level of profit.
Title loans Harlingen: Getting Your Loan Online
While title loans in Harlingen are available locally, you can also get them right here at Loan Cheetah. You’ll just need some basic information about yourself and the vehicle in question. On our homepage, you’ll find a brief application where you can:
- Select the year, make and model of your vehicle
- Input the estimated mileage or an odometer reading
- Enter your full name, zip code, cell number and email address
That’s really all there is to it. Loan Cheetah will provide you an estimate within seconds of submitting that information. That quote will give you a good idea of what you can borrow. When you’re ready to proceed, a loan representative will contact you to discuss additional details and answer any questions you may have about the loan. This entire process usually takes less than 15 minutes, and in many cases, people can get the money they need without ever leaving home.
How Title Loans Work in Texas
Title loans in Brownsville and throughout the state are governed by the Texas Finance Code and Business and Commerce Code. These laws require lenders who provide title loans in Harlingen to be licensed and to adhere to rules that protect consumers’ interests. For instance, individual title loans cannot exceed 180 days. Additionally, interest rates are capped at 10 percent regardless of the prime interest rate, and although fees and surcharges aren’t capped, lenders must provide the total cost of these charges in writing at the time of the loan.
Benefits of an Auto Title Loan
Auto title loans are all about convenience and cost-effectiveness. They’re generally much more affordable and easier to acquire than bank loans, and payday loans and other short-term options tend to cost more overall. Since title loans are secured, applications can be streamlined. Lenders don’t even require credit checks, which means you can have bad credit, a bankruptcy on your record or no credit at all. Income verification is also not required, which is why unemployed title loans are such a popular option for those who are between jobs.