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Car Title Loan Texas FAQ's

What is a title loan?

A title loan is a short term loan where borrowers use their car or truck title as collateral.

How much money can I borrow with a title loan?

The amount you can borrow typically depends on the value of your car or truck. Most lenders offer loans ranging from a few hundred to several thousand dollars.

 What do I need to qualify for a title loan in Texas?

You need a clear title, a valid government-issued ID, proof of income, and proof of residence. Some lenders might require additional documentation.

Can I still drive my car while I have a title loan?

Yes, you can continue to drive your car while the loan is outstanding. However, the lender holds onto the title as collateral until the loan is paid off.

What are the interest rates for title loans?

Interest rates can vary by lender but are generally a bit higher than conventional loans due to the short term and high risk to the lender.

How long do I have to repay the loan?

Loan terms can vary, but most title loans need to be repaid within 30 days to a few months. Some lenders offer longer repayment terms.

What happens if I cannot repay the loan on time?

If you cannot repay the loan on time, you may be able to roll over the loan into a new agreement, but this will incur additional fees and interest. Failure to repay could result in the repossession of your car or truck.

Is there a prepayment penalty for paying off my loan early?

Most title loan lenders in Texas do not charge a prepayment penalty, allowing you to pay off your loan early without extra charges.

How quickly can I get a title loan?

Many lenders offer quick approval processes, and you can often receive funds the next business day after applying.

So what is the real cost to me

We comply with the Texas state mandates and do not charge over 25% per-month fee.

Is the online application secure?

Yes, we have high grade encryption on the application and only our lender and us can see your information.

Can I get more money elsewhere online?

Maybe, but you may be dealing with a company anywhere in the country or world. Our lender lives in and works in Texas. Also the more money you borrow the more you have to pay back in interest alone.

Do many people take out title loans? Am I in the minority?

No, not at all. According to a Consumer Financial Protection Bureau report in 2023, roughly 3.7 percent of consumers (about 9.6 million) took out title loans. So you are not alone.