(800) 250-6279BORROW $1,500 OR MORE WITH A QUICK APPROVAL TITLE LOAN IN FORT WORTH
Premier Title Loans offers to title loans and you can qualify using a paid off vehicle as collateral!
CAR TITLE LOANS IN FORT WORTH TEXAS!
Get approved for a car title loan in Fort Worth that doesn't require good credit. At Premier Title Loans, we can get you a lending estimate in less than 10 minutes and most vehicles that are year 2014 or newer will qualify. Loan amounts range from $1,000 to $20,000!
Why Consider A Title Loan In Fort Worth And How To Get One
When you need money quickly, you may not have many options available in Fort Worth, especially if your credit isn’t great or you need to borrow $1,000 or more. Unsecured lenders won’t even talk to you if your FICO score is under 700, and even then, it can take up to a week to get a personal loan approval.
One way to access funds for an emergency expense is through a title loan on a car, truck, or motorcycle. Like any financial product, Title loans have ups and downs and should only be used as a last resort. It’s a relatively simple process to apply for one with Premier Title Loans and be approved, but you need to be aware of the details of the loan agreement before you sign anything.
When you take out a title loan, you’re essentially tapping into your car’s equity and using that as collateral for a loan. You can use this money however you please and avoid the hassle of dealing with a bank or installment loan company that each has dozens of requirements. Get started today with Premier Title Loans. You can apply for a Fort Worth title loan in minutes. We’ll get you a quote showing your estimated payoff amount, interest rate and monthly payments, so call us at 800-250-6279 to get started!
Are Title Loans Legal in Fort Worth?
Title loans are legal in Fort Worth and all of Texas. Compared to many other states, the regulations for lenders aren’t very strict either. There are a few state regulations lenders in Fort Worth have to follow, including being licensed by the state.
If you get a title loan, the lender must be transparent about your loan terms and costs. There are limits on how often you can renew or roll over a loan.
In Texas, you can also cancel a loan after you agree to it. You have one business day to change your mind without a penalty.
Are There Limits on Interest Rates For Title Loans In Fort Worth?
Some states put strict limits or caps on how much interest a lender can charge, and there might also be limits on fees. In Fort Worth and throughout Texas, there aren’t limits on interest rates, and lenders can charge a range of fees, including:
- Late fees
- Rollover fees
- Processing fees
This contrasts with states like Arizona, which caps title loan APRs at 36%, and Arkansas, where the APR can’t be more than 17%.
Loan Amounts With A Title Loan In Fort Worth Texas?
The amount of money you can get for an online car title loan in Fort Worth depends on a few factors.
One of the main ones is your vehicle’s value. A lender will look at your vehicle’s market value. They’ll consider the make and model and year, its overall condition, and mileage.
Most lenders use a term called loan-to-value ratio (LTV). This means they’ll offer you a percentage of the current market value of your vehicle. Most often, the LTV will be 25-50%, but some lenders may go higher.
Lenders in Texas have ample room to create specific lending policies, so they might be willing to offer much larger loans than lenders in other states. Generally, title loans can range from $100 to thousands of dollars.
If you had a lower-value vehicle or didn’t need much cash, you could be offered a loan of $100 to $1,000. A mid-range car might mean a loan of anywhere from $1,000 to $5,000. If you have a high-value vehicle, loans can be more than $5,000 depending on lender policies. As you can see, there’s no defined maximum loan amount for title loans in Fort Worth. The more your vehicle is worth, the more you can borrow!
While vehicle value is the main thing lenders look at, they might also consider your ability to repay the loan. This can come from proof of income verification or bank statements.
Do Title Loans in Fort Worth Require a Credit Check?
Along with it being a fast way to get money, one of the most appalling features of getting a title loan is that your credit doesn’t necessarily matter. The loan is collateral-based and backed by your car’s value, so a lender isn’t very concerned with your credit history, if at all.
Not requiring a credit check also makes it faster to approve the title loan. As well as usually not requiring a credit check, most nationwide title loan lenders don’t report to credit bureaus. However, there are a few local title loan companies in Fort Worth that report your on-time payments to the credit bureaus, and this can be quite beneficial. Let’s say you’ve made all your payments on time and want to improve your credit. By reporting your timely payments, your lenders is helping to improve your credit score. Some customers can see significant jumps in their FICO score after just a few payments for their title loan!
What Happens To Your Car Title?
When getting a title loan in Fort Worth, your title is collateral. That means you temporarily give the lender ownership rights of your vehicle but still keep physical possession of it and can use it.
The lender will put a lien on your car title. This shows that they have a financial interest until your loan is repaid. The lien is recorded with the motor vehicle department in Texas.
You make the payments that you agree to based on your loan schedule. The lender keeps the lien on your title during this time. The lender releases the lien once you repay the loan completely, including fees and interest. Your title is then returned to you, and you’re listed as the primary lienholder on the vehicle.
If you don’t repay the loan as you agree to, any company offering Texas auto title loans can legally repossess your car and sell it to recover the remaining amount on the loan.
How Long Does It Take to Get a Title Loan in Fort Worth?
The overall process to get a title loan goes fast. Most Fort Worth title loan lenders approve and disburse a loan on the same day– often within a few hours. Are you looking to get your cash in person from a local title loan company? Premier Title Loans works with several lenders in Tarrant County, offering cash payments for your loan right after your vehicle is inspected. So, you can get funded in less than an hour instead of waiting one business day to get your money!
Applying With A Reputable Title Loan Lender in Fort Worth
It’s important that you work with a lender with a good reputation. You can learn more about lenders by researching online reviews about the company. In Fort Worth, there are three places you can go for a title loan: specialized lenders that only provide this type of financing, pawn shops, or online lenders. Credit unions sometimes offer secured loans, but that’s pretty rare.
Once you’ve decided on a potential lender, make sure they’re licensed with the state. It’s a good idea to have a short list of a few lenders to compare the terms, fees and interest rates between each. Some lenders will be willing to negotiate as well.
Before you get a title loan, make sure you’ve gone over the full cost of borrowing and are fully prepared to take on the repayment schedule. All lenders in Texas need to be fully licensed within the state and must follow all applicable lending laws regarding repayment terms and early payment fees.
Premier Title Loans takes customer service seriously. We’ll do what we can to get your loan approved and underwritten in 24 hours or less by a local lender in Fort Worth. Apply with us anytime online, or call 800-250-6279 to start your application over the phone!