Title Loans Pharr, Texas from Loan Cheetah
Undeniably money is not everything in life. But without money, the purpose of life is meaningless. That's why we are very cautious while spending money on unnecessary items. We always make rational monthly budget giving high priority on saving – either big or small, so that financial challenges cannot make any dent on our happiness. In spite of judicious use of money, sometimes we are undesirably strapped in financial troubles due to some unforeseen occurrences, compelling us to seek for immediate cash. In the city of Pharr, Texas, people maintain their composure when financial crisis strikes their lives by virtue of the availability of emergency loans. With the emergence of car title loans in Texas as an effective alternative compared to the traditional loans, the residents in Pharr hardly face any hurdles in securing money whenever they need it.
How Title Loans Work in Pharr
A title loan, which is also otherwise known as a car or an auto title loan, is a short-term secured loan lent against the equity in a vehicle. There is no such eligibility required to obtain a title loan, except a lien-free car title. In other words, if you own a collateral free vehicle, you are most welcome to the car title loan in Pharr, Texas, meaning you are without any doubt eligible for this amazing facility of instant financial solution. The car or vehicle title is returned to the borrower after the repayment of a loan. However, you can go on enjoying the driving even if its title is lying with the concerned lender.
Unique Features of Pharr Title Loans
Pharr is one of those cities in Texas, which has witnessed the growing popularity of title loans, thanks to various financial benefits. Some of the key benefits are asunder:
- Credit history becomes 'history' - Banks and other financial institutions check your credit history minutely. If you have a good credit score, there is a high chance of getting a bank loan. Your loan application will be simply rejected, if you have bad credit score. But the Pharr title lenders welcome anyone to take a loan and meet urgent financial needs. They don't care about your credit history.
- Fast Release of Cash - One of the greatest advantages of an auto title loan is the fastest possible release of cash. The title lenders follow very simple appraisal process. They process the loan within the time frame of 30 minutes because you don't need to submit a pile of documents for verification. In the entire deal, the equity in your vehicle will be calculated. In Pharr, the loan companies take the help of car value books and online car value calculators to figure out the correct value of your vehicle easily.
- All Vehicles Eligible - The title loan companies in Pharr consider all types of vehicles when it comes to securing a loan. So, you don't need to feel disheartened if your vehicle is old. However, you must be legally owner of the vehicle.
- A Decent Size - The size of the loan depends on the condition or financially speaking 'equity' in the vehicle. If your vehicle is in good condition, there is a chance of getting more amount in a loan and vice-versa. Typically, Pharr title lenders provide loans from $250 to $10,000.
- Lower Interest Rates – With the rising growth of title loan companies in the city, the market driven forces have compelled the loan providers to come up with various attractive interest rates to lure the customers.
- Multiple Payment Options – The lenders have introduced various payment options, so that customers can easily deposit their monthly installments. You can simply repay the loan in cash at their office. If you are dealing with a hectic schedule, you can make money order or payment through debit cards. Even you can make pay by checks.
Legal Provisions Concerning Title Loans in Pharr, Texas
- A title lender cannot operate in Pharr without an approved license from the Office of Consumer Credit Commissioner of Texas.
- The Truth in Lending Act (TILA) announces that a title lender must disclose all loan related information to the customers.
- Moreover, no title lender in Pharr is legally allowed to charge more than 10% of interest rate on the title loan. However, in certain cases it can charge above the prescribed limit if the state legislature approves.
Whom to Report about Fraud
You can report to the Attorney General of Texas if you notice any irregularity in the title loan process:
Texas Attorney General's Consumer Protection Hotline: (800) 621-0508
You can also take help of police.
Pharr Police Department
1900 S. Cage Blvd
Pharr, Texas 78577
That said, a title loan provides much-needed cash to the people in Pharr, Texas during their time of unplanned and unexpected financial emergency. With the attractive interest rates, speedy approval process and multiple repayment options, this immediate financial facility has gained wide acceptance and immense momentum among the residents of Pharr, Texas.