(800) 250-6279BORROW UP TO $20,000 WITH A CAR TITLE LOAN IN PLANO
Premier Title Loans offers access to 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. At Premier Title Loans, we offer 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 paid off 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.
The loan amounts for Texas title loans range from $1,000 to $20,000, and our customers are eligible to borrow at least $2,000 if they have a vehicle valued at $5,000 or more. 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 For A Title Loan in Plano
In Plano and the rest of Texas, you’ll be matched with a licensed title loan company, fill out an application, and the lender will inspect your vehicle to assess its value. The value of your vehicle 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- 4 years, but some lenders may offer longer terms if you’re looking for a lower monthly payment. 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 law requires 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.
- The notice of default must include a period during which you can cure the default. Depending on the lender’s policies, the period may be a few days to a few weeks.
- 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 there are a few regulations. One of the main regulations is that the lender has to be licensed by the Texas Office of Consumer Credit Commissioner to ensure that the lender is following state regulations and operating legally.
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
You have multiple application options since title loans are allowed in Plano with minimal regulations.
One option is a specialized title loan 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.
At Premier Title Loans, we can take your information online or over the phone at 800-971-3022 and connect you with a neighborhood lender in Plano. This option is great for anyone who wants to start the application process now and eventually pick up their funds at a licensed lending location in Collin or Denton County.
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’ll get you a quote in minutes, and we only need your car’s make, model, and year to tell you how much you can borrow based on your vehicle’s value. Apply today!