A title loan is a personal loan secured by a personal vehicle. Unlike other types of loans, such as bank loans and payday loans, title loans have distinct advantages that make them the best choice for borrowers who need cash quickly.
- A Title Loan in San Antonio is easy to obtain. To get a title loan, you merely need to own your car or truck in your own name. Jointly owned vehicles can be used as collateral for title loans as long as both others sign the loan documents. Credit is not a factor but you will need to have a source of income to repay the loan. If you don’t have a job, proof of government benefits or self-employment income may help you qualify for a title loan.
- The fast approval process can get you the cash you need in time to resolve your cash emergency. Many title loans are approved in less than an hour. While payday loans are fast and also require minimal documentation, the maximum loan amount is very small. Even with a good job, you may only be able to borrow a few hundred dollars at a time in a payday loan. With a title loan, depending on the make, model and condition of your vehicle, you may be able to borrow thousands of dollars.
- When you get a loan from Xpress Title Loans, there is no prepayment penalty. Banks and other lenders often charge a fee when borrowers pay off their loan early. With a Title Loan in San Antonio, you can pay off the balance whenever you have the money. You keep your vehicle while you make your payments and after the loan is paid off, your title will be returned to you with the lien canceled.
Cash emergencies happen to nearly everyone. Whether you need to pay a large utility bill or cover your child’s college tuition, a title loan can provide the money you need when you need it. Because title loan companies don’t check credit scores, you can get a great rate on a loan secured by your car without a perfect credit history.
