We help our customers get the cash they need within 30 minutes or less. We are conveniently located in Plano, Texas
There are a few things to understand about the title loan process in Texas. The minimum age for anyone to get a title loan nationwide is 18. Besides that age minimum, the federal government has left states free to set their own title loan laws, meaning the experience can be much different from state to state.
You won’t need to worry about a maximum title loan amount, because Texas hasn’t set one. The most you can borrow will be determined solely by your car’s value and what the lender is willing to give you. Although the state sets the interest limit at 10 percent, there isn’t a limit on title loan fees.
For the term of your title loan, expect most lenders to offer you one for 30 days. If you’re wondering about what happens if you can’t pay your title loan on the due date, there is also the option of getting an extension. You must pay at least your loan’s interest, and then you extend the loan into a new term of the same length. This term will have your unpaid loan principal and a new interest charge.
Your car secures your title loan by serving as the collateral. The lender doesn’t keep your car while you pay back the loan, though, only its title. If you’re having trouble paying back your title loan, extending it is a smart move, because failure to pay is a default.
If you default on a title loan, that gives the lender the right to repossess your car. After repossession, the lender can sell the car to make back whatever you owed on the loan. This obviously isn’t good for you, but it’s also inconvenient for the lender, as they must spend time and money on the repossession.
Fortunately, this doesn’t happen often, and you can almost always stave off repossession by talking with your lender about the situation. They can see if there’s another option available for you, such as extending the loan to lower your payment for the current term.
It’s a stressful situation that’s all too common – you have urgent expenses, but you’re short on the funds to pay them.
Considering how high medical, car repair and home repair bills can get, even an emergency fund might not be enough. You don’t want to leave unpaid bills lying around, because that will only put you in a deeper hole as you rack up late fees. Fortunately, auto title loans in Plano can get you the money you need right away. We offer title loans in Plano, a convenient option that only requires you to have your own car with a lien-free title on it.
The title loan application process was already convenient, but at Clausell Car Title Loans, we wanted to make it as simple as possible. That’s why we created our online application for Plano title loans, which is available here on our site and won’t take longer than 30 seconds to do. The first thing to do is go over to the application form and enter the following details about the car that you’ll use as collateral for your title loan.
Once we have that, we’re able to preapprove you for a title loan after running your car’s info to see what its current market value is. This is also how we come up with your title loan estimate. We’ll give your contact info to one of our helpful Clausell Car Title Loans representatives, who will get in touch with you as soon as they can and explain more about the title loan process. They can also set you up with a time to come in and get the loan.
Of course, many consumers wonder what they’ll need to actually obtain the loan, and fortunately, it isn’t much. Unlike the bank loan process, there’s no need for us to see all your financial documents. We’ll need to check your government-issued ID just to see that you’re at least 18, your car to verify its condition and your car title to keep during your loan’s repayment period. When do you get the car title back from us? As soon as you’ve paid off your loan.