(800) 250-6279BORROW UP TO $20,000 WITH A CAR TITLE LOAN IN PLANO
Premier Title Loans offers online title loans that don’t require a credit check!
AUTO TITLE LOANS IN PLANO WITH FAST ONLINE APPROVAL!
Don't wait any longer to see how much you can borrow with an online title loan. Premier Title Loans offers same-day title loans in Plano, Texas, and you don't need good credit to qualify. Borrow up to 70% of your vehicle's value, and most newer cars with less than 100,000 miles will qualify as collateral.
Get A Same Day Title Loan In Plano, Texas
Auto title loans can be an ideal financial option if you need money fast and don’t have excellent credit. You can quickly borrow money with a title loan in Plano based on the value of your vehicle. Most applicants will qualify with proof of a paid off vehicle, income verification, and registration documentation from the Texas DMV. Funding can be same-day, and the process to apply and get approved is straightforward with Premier Title Loans.
Compared to other unsecured loans, a title loan offers higher loan amounts and faster approval as it’s secured by a vehicle titled and registered in your name. Even with a payday loan, you may have to go through a credit check and show proof of income, whereas the main thing you need for a title loan in Plano is a newer vehicle and proof that you can pay off the loan.
Do you have poor credit or recently been rejected for a personal loan? A title loan company may check your credit, but that doesn’t mean you should be concerned about getting turned down because of a low FICO score. Remember, a title loan is designed for borrowers with bad credit, and most people who own a vehicle will get approved regardless of credit history.
Loan amounts for Texas title loans range from $1,000 to $20,000, and our customers are eligible to borrow at least $2,000 with a vehicle valued at $5,000 or more. Some newer cars or those with low mileage can lead to loan amounts even higher than $20,000! Call Premier Title Loans at 800-250-6279 to get a fast, no-hassle quote for an auto title loan in Plano!
The Approval Process In Plano With Premier Title Loans
With Premier Title Loans, you can fill out an online application. Then, a local lender in Plano will inspect your vehicle to assess its value and record the VIN and mileage. The value of your car is based on factors like the make and model, the mileage and year, and the overall condition.
The loan amount is usually a percentage of your vehicle’s appraised value. Depending on the lender, it can range from 25% to 50%, but it can go as high as 70%.
When you agree to a loan amount and repayment term and sign the agreement, the funds will usually be sent through direct deposit, or you can pick up a money order at any retail location in Plano.
The repayment period for Texas title loans is usually 2- 5 years, but some lenders may offer longer terms if you’re looking for a lower monthly payment. Are you looking for an online title loan with no store visit or inspection? Those are also available in Plano, but your loan will likely be $3,000 or less. One thing to remember with a title loan is that if you can’t or don’t pay your loan back, the lender can repossess the vehicle and come after you for any money you still owe after the car is sold at auction.
Once you repay your loan in full, the lender releases their lien on the title. You receive a clear title, free of the lien, and full vehicle ownership is restored.
What If You Can’t Repay Your Title Loan?
Texas has regulations for repossessing a vehicle if you default on your loan agreement:
- Texas title loan laws require the lender to provide a written default notice and allow you to return your vehicle after repossessing it. This means that you have the opportunity to make a missed payment or pay the loan in full.
- If you pay within the outlined period, you can avoid a repossession.
- If you can’t catch up on your payments, the lender can legally repossess your vehicle or hire a third party to start collection proceedings. A lender can’t use force or breach the peace during the process.
- After repossessing your vehicle, a lender must provide you with their intent to sell it, including details about the sale time and place. You can get your car by paying the total amount owed before the sale; the notice of sale should give you details.
- The lender must sell the vehicle at a commercial auction, and they have to take the highest offer possible. The proceeds are used to pay your outstanding loan balance, including any additional fees and costs associated with the repossession and sale.
- If the vehicle sale generates more money than what’s owed, the lender must return the additional money to you. If the sale proceeds are less than what’s owed, you might be responsible for paying the deficiency.
Additional Title Loan Regulations in Plano
Online title loans are legal in Plano, but a few regulations exist. One regulation requires the lender to be licensed by the Texas Office of Consumer Credit Commissioner.
Unlike many states, Texas doesn’t cap title loan interest rates, but lenders must disclose the APR and all fees upfront and transparently.
In Texas, you have the right to rescind your loan contract, meaning you can cancel your title loan agreement within one business day without penalty.
Additional protections exist in Plano and all of Texas for military personnel, including requiring lenders to comply with the Military Lending Act or MLA. This limits the APR to 36% for active-duty servicemembers and dependents. There are also regulations for title loans without insurance and other issues, so contact us if you’re missing any of the main underwriting requirements.
Options to Get a Title Loan in Plano, Texas
One option for a title loan in Texas is working with a specialized company such as Premier Title Loans. The benefit is that it’s a quick and relatively straightforward process because these companies focus on this.
Another option is a pawn shop. Some pawn shops in Plano offer title loans, and you only need to add them as lienholders to your pink slip to get approved.
The last and most popular option involves getting a title loan without a store visit. Many companies offer a completely online underwriting process, and you can often avoid an in-person inspection by submitting videos or pictures of your vehicle to verify its value.
Are you ready to apply for a title loan in Plano? Call Premier Title Loans at 800-971-3022 or get started online to see how much your vehicle’s title is worth! We only need your car’s make, model, and year to get you a quote! Apply today!