With Houston Title Loans, we decided to speed up that application process even more. That’s why we set up an easy, streamlined online application for title loans in Houston. You can fill out the application right here on our site and it takes just seconds. Simply head over to the form and fill out the following information about the car that you plan to use as collateral on your title loan:
You’ll also need to enter the following contact information:
Once you submit the form, we can preapprove you for a title loan and use your car’s current market value to calculate a free car title loan estimate. We’ll also have one of our Houston title loan representatives follow up with you at their earliest convenience to give you more information about title loans and answer any questions you have.
Wondering what you’ll need to bring with you to pick up your title loan? You’ll find that it’s much easier than it would be getting a loan through a bank, and you won’t need any financial history documents. We’ll need to perform a brief inspection of your car, and we also need to hold on to your car title over the term of the loan. Once you pay off your loan, we return your car title. Other than that, we just need to see your government-issued ID to check your date of birth, as the federal government requires all title loan borrowers to be at least 18 years old.
It’s a good idea to fully understand how title loans work before you apply for one. A title loan is what’s known as a secured loan, and it’s secured because there is property attached to it as collateral, in this case your car. An unsecured loan doesn’t have any collateral attached to it. Even though your car is the collateral, you keep it during the term of the loan.
Title loan laws vary quite a bit from state to state, as the federal government has very few laws in place regarding title loans. In Texas, there is no limit on title loan amounts, so that’s determined completely by the value of your car and how much the lender is willing to loan you. Most lenders will offer you anywhere from 30 to 50 percent of the current market value of your car for a title loan. There is a 10-percent interest rate cap, although there is no limit on the fees that a lender can charge. The term limit is 180 days, although title loan terms are typically set up for 30 days.
If you’re unable to pay your title loan back on the due date, you have the option of rolling over the loan, which means you’re extending it for another payment term. To do so, you must pay at least any of the interest and fees on the loan. You then carry over any unpaid loan principal into a new term which incurs another interest charge and possibly additional fees.
If you fail to make a payment on your title loan, then you’ve defaulted on the loan, which gives the lender the right to repossess your car and sell it. Texas doesn’t set any specific time frame regarding repossession, so the lender doesn’t need to give you a grace period to catch up on your payments.
The thing to keep in mind is that the repossession and sale of a car isn’t convenient for you or your lender. Because of this, lenders would always prefer to work with you if you’re having payment issues instead of going to the trouble of repossessing your car and then selling it. If you won’t be able to make your title loan payment, the best thing to do is contact them and let them know. They may be able to come up with a solution with you. We pride ourselves on solving payment problems with our customers. Get in touch with us and we may be able to rollover your loan so you can buy yourself more time to pay back what you owe.