Car Title Loans In Littlefield, TX Are A Way To Keep Your Savings Full
When it comes to saving money for tough times, it's good to have a savings plan as well as the means to borrow money in case you have any difficulties paying bills. Sometimes you need just a little help from the outside if you're running short on savings, and while family members or coworkers might be a good choice to tap for a little extra cash, you might want to go another route with our auto title loans in Littlefield, TX. Auto title loans are some of the most convenient types of loans and to use because of the freedom of what you can use them for.
Auto title loans work differently than regular bank loans because they don't require paperwork detailing what you plan to use them for or what the profits you expect to make with them are. Also, they are secured by your vehicle's selling price which means you don't have to undergo credit checks and other loan inquiries because you have pledged collateral to the lender by signing over your title to them. Your vehicle's title is the key to Littlefield or Lubbock car title loans because it allows the lender to have a secured interest in your vehicle but also allows you to keep it and continue to use it as normal.
Making Payments On Auto Title Loans In Littlefield, TX
It's important to have a plan in place to pay off your loan because you don't want all the fees and interest to add up, and auto title loans are only meant to be short-term. Usually you can have an auto title loan out for about one month, which is longer than other short-term loans allow. But it's also wise to make sure you only take out an amount that can be covered when your income comes in so that way you don't default on the loan.
If you need to make changes to your loan payments, you might look for an auto title loan buyout or rebuild plan. What this does is basically replace your existing auto title loan with a new one that will usually give you another 30 days to pay while also possibly lowering the amount due at each deadline. If this doesn't work out, you can choose to sell the vehicle in order to find auto title loan debt relief. You'll have to make sure the sale will cover the amount you owe plus interest and fees as well as clear the lien currently on the title.
Factors That Determine The Value Of Car Title Loans In Littlefield
Vehicle title loans in Littlefield, TX are determined in part by the information you give us about your vehicle in the online application, and also by the condition it's found in after inspection. The make, model, year and mileage all are factored into a title loan quote, but it has to pass the final inspection to be sure that amount will be final. If your vehicle has any repairs or overhaul done to it while under a title loan, these may factor into refinancing.
Key Documents Needed For A Title Loan
You don't need too many documents besides your vehicle title itself, but there are just a few that will be needed to confirm your identity. You must be 18 or older to get a vehicle title loan and you'll need to have the following on you:
- Driver's license, military ID, passport or another state-issued photo ID
- A copy of a lease, utility bill, earnings statements or some other document with your address and income