Title Loans in Texas

Financial emergencies can happen at any time. When they do, nothing beats the relief that comes with finding the money you need right away. Title loans in Texas offer people the chance to find the financial relief they deserve when other loan options may not be available. If you own a vehicle, you could use it as collateral in exchange for hundreds or even thousands of dollars in loan funding.1

Now, Texas residents have the opportunity to enjoy a convenient online approval process and have the money they need in as little as 24 hours.1, 3 Learn about the easy approval requirements and why a Texas title loan serviced by LoanMart could be the right choice for you!

Title Loans Texas

What is a Texas Title Loan?

A Texas title loan is a way for people to unlock the equity in their cars and turn it into cash! With a simple online process, title loans allow people to find quick approval for loans using their cars as collateral, without having to sacrifice full ownership of their vehicle.

When you get a title loan in Texas, your lender adds themselves as a lienholder to your vehicle title for the duration of your loan. Then, as you make your monthly payments, your car stays with you for your daily commute, running errands, or whatever you normally use your car for.

After you’ve paid back your loan, your lender will remove themselves as a lienholder of your Texas car title. At this point you’ll get your vehicle title back, where you should be listed as the sole owner of your car once again.

How Fast Can I Get a Title Loan Serviced by LoanMart in Texas?

Getting approved for a title loan in Texas has never been easier! LoanMart has worked hard to streamline the process so you can get your money quickly and efficiently. Here’s how to get your cash:

  1. Get a Pre-Approval Estimate1 – Call 855-422-7412 or fill out an inquiry form online to find out how much your car qualifies for. It only takes a few minutes, and you could get a free estimate with no obligation.3
  2. Send in your Documents – Upon approval, your lender will ask for several pieces of documentation. The sooner you send in your info, the faster you can get your money!1, 3
  3. Get your Funds – When you sign your title loan contract, your lender will sign onto your vehicle title as a lienholder. After that, you’ll have instant access to your funding.3

Choose between direct deposit into your bank account, wire transfer, a check, or pick up your money at any participating money transfer location near you when you’re ready to receive your approved title loan funding in Texas.

What Documents do I Need for a Title Loan in Texas?

Before you can get approved for a title loan serviced by LoanMart in Texas, you’ll need to send in a few simple documents. You may even have these items lying around your house now!

Here are the documents you need for title loans in Texas:

  1. Qualifying Vehicle Title – Your loan agent will ask a few questions about your car title when you apply. But don’t worry if your title isn’t currently free-and-clear, LoanMart still may be able to help you!1
  2. Government-Issued Photo ID – A valid U.S. Government or State Identification
  3. Photos of the Car – Take a few clear pictures of your car and send them in. Make sure you include photos of both the inside and outside, and as well as the VIN of your vehicle.
  4. Proof of Income – For Texas title loans, acceptable forms of income are items like a paystub, bank statement, tax statement, or certain forms of government-issued income.
  5. Proof of Texas Residency – Title loan lenders in Texas must confirm you live in the state. To prove you live in Texas, you can use a utility bill, rent/mortgage agreement, etc.
  6. References – While not all title loan lenders in Texas require references, some do. Typically, these references can be either personal or professional, so pick people who know you well!

To expedite the approval process, you may want to gather your documents before you start on your Texas title loan. That way, you can send everything your lender needs right away and get your money faster! 1, 3

Do I Need Good Credit for Quick Title Loan Approval in Texas?

No! People with all kinds of credit are encouraged to inquire about a title loan serviced by LoanMart. Unsecured loans like personal installment loans, bank loans, and even credit cards all usually require a high credit score for approval. So, if you have bad credit, or no credit, trying to find traditional funding may have been a frustrating process.

Thankfully, title loans are a secured form of funding. Your vehicle title secures your loan money, so lenders don’t really care what your credit score is. That means if you have poor credit, no credit, or even past bankruptcy, you could be approved for a title loan in Texas.1

What are the Requirements for Title Loans Serviced by LoanMart in Texas?

When Texas title loan lenders approve people for funding, they look for two main qualifying factors. These two Texas title loan requirements are:

  1. Owning a vehicle with equity
  2. Demonstrating the ability to repay the loan

Wondering what the equity in your vehicle is? Also known as the vehicle value, equity is based on the current market value of a car compared to how much the owner currently owes on the car. To determine how much equity your car has, lenders will consider the year, make, model, and trim. Generally, newer cars in good condition are eligible for higher loan amounts, but all types of vehicles are considered for title loans in Texas.

While the vehicle title is used as collateral to secure the loan, title loan lenders still want to make sure their borrowers have means of paying back their loan. By showing proof of income, applicants can prove they’re able to take care of their loan balance, so lenders feel more comfortable granting approval.

So, if you have a vehicle with equity and a form of income, you could be qualified for fast funding through a title loan in Texas.

Do I Need a Bank Account to Get my Texas Title Loan Money?

Worried about getting approved for a title loan because you don’t have a bank account? Don’t be! With title loans serviced by LoanMart in Texas you can inquire, get approved, and even receive your money without needing a bank account.1

When it’s time to collect your approved title loan funding, here are your options that don’t require a bank account:

  • Receive a Check – Have a check overnighted to you via FedEx.
  • Pickup in Person – Pick up your funds at a participating money transfer location near you.
  • Wire Transfer – For immediate access to funds, you can have your funds wired to you.2

LoanMart knows not everybody in Texas has a bank account, but everybody does deserve access to emergency funding when they need it.

What are the Interest Rates for Texas Title Loans Serviced by LoanMart?

Title loans in Texas fall under the jurisdiction of the Texas Finance Code regarding the regulation of interest, loans, and financed transactions. Based on the most current market research, interest rates for title loans serviced by LoanMart were designed to be manageable for the everyday consumer.

Emergency funding like payday loans or credit card advances can be a quick way to get cash, but they almost always come with exceptionally high interest rates. Title loans on the other hand, can be different. With title loans serviced by LoanMart in Texas, interest rates are competitive industry wide.

Want to know what kind of interest rates you qualify for? Talk to a title loan expert by calling 855-422-7412.

Title Loan Benefits for Texas Residents

LoanMart takes pride in being a company people in Texas can rely on when they need emergency funding.1 Check out some of the awesome benefits you can take advantage of when you get a title loan serviced by LoanMart:

  • Fast Approval1 – When you’re going through the middle of a financial emergency, time is usually of the essence. LoanMart knows you shouldn’t have to wait around for the money you need.
  • Bad Credit OK – If you have less than perfect credit, you may have had trouble getting approval for traditional loans in the past. Since title loans are secured through the vehicle title as collateral, lenders in Texas can approve people with all kinds of credit!
  • Flexible Terms – Instead of getting trapped in a loan with unreasonable interest rates or inconvenient payback terms, you can work with your title loan agent to come up with a personalized payment plan. When your loan terms work for you, paying off your title loan can be a breeze!
  • Quality Customer Service – Nothing is worse than dealing with a robot or automated messaging when you need help. With title loans serviced by LoanMart, you’ll work with knowledgeable and friendly title loan agents who are by the phones waiting to help with whatever you need.
  • Keep your Car – LoanMart understands your car is important to you. That’s why when you get a title loan serviced by LoanMart, your car stays with you while you pay off your loan. Have your car to drive every day like normal, while knowing your finances are taken care of.

Ready to get started on your Texas title loan? Just answer a few questions online to get a free estimate now!

Can I Get Title Loans in Texas if the Title is Not in my Name?

For title loans in the Lone Star State, a qualifying TX vehicle title in the name of the borrower is a requirement. But, if your vehicle title isn’t in your name or if you’re unable to locate your title, a LoanMart agent may still be able to help you.

If you need your vehicle title transferred over to you, there are LoanMart resources on how to transfer a car title in Texas. Or, if you simply can’t find your title, a LoanMart agent can walk you through the process of getting a copy of your vehicle title in Texas.

You may also find yourself in a situation where there are multiple names on your Texas vehicle title. If “and” is between each name on your title, all parties must consent to using the car as collateral. However, if “or” is between each name, then either party alone may opt to use the vehicle as collateral for a Texas title loan.

What Should I Do if I Can’t Afford my Texas Title Loan?

If you start stressing about being able to keep up with your title loan payments, reach out to your lender right away. Often, there are options available that can make staying on top of your Texas title loan much more manageable.

Unfortunately, too many missed payments on a title loan may result in vehicle repossession in Texas. To avoid dealing with getting your car out of impound, communicate with your lender before you start missing payments. When your lender knows you need adjusted terms or improved rates, they may offer buyout or refinancing options for you.

To refinance a loan, the process is almost identical compared to applying for your original loan. Just inform your current lender you’d like to refinance, and they should already have your information and documents on file. From there they could approve you for additional funding, as well as better interest rates and payback terms.1

Online Title Loans Serviced by LoanMart in Texas

Texas title loans serviced by LoanMart could be the perfect financial solution you’ve been looking for. When you need quick approval on funding that doesn’t require a perfect credit score, a title loan serviced by LoanMart has your back.1

Get started on your title loan in Texas by calling 855-422-7412, or fill out a fast inquiry form online for a free pre-approval estimate today!

Where to Pay Back your Title Loan Funds

There are numerous quick and convenient ways for you to pay back a title loan serviced by LoanMart in the state of Texas! One such method is by going to visit your closest MoneyGram business location!

One of the great things about working with title loans serviced by LoanMart is that MoneyGram locations can be found throughout the country. Because MoneyGram’s can be found in most cities, a person doesn’t have to travel too far to inquire for a title loan or pick up their funds.

For the sake of convenience for Texas customers, below is a map and list of just a few locations in the Arlington area, with many more statewide locations found here.

Frequently Asked Questions:

What is a Title Loan in Texas?

What are Two Disadvantages of a Car Title Loan in Texas?

How Much Money Can I Receive Through an Auto Title Loan in Texas?

What Documents Do I Need to Get a Texas Title Loan?

How Soon Can I Get My Money with an Auto Title Loan in Texas?

Demographic and Financial Statistics for Texas

The below table provides some of the key income, loan and financial statistics for Texas which are intended to give you a better understanding of how your financial circumstances compare to other Texas residents. With this information in hand, we hope you gain a better idea of your financial options so you can decide if completing a title loan application is the right decision for you:

Average credit score (VantageScore®)674
Average FICO® score692
Average student loan debt$32,920
Average credit card debt$6,753
Average monthly car loan payment$662
Share of households that rent38%
Average rent$1,082
Median gross rent$1,146
Median value of owner-occupied housing units$202,600
Median monthly owner costs - with a mortgage$1,747
Median monthly owner costs$557
Number of bank branches5,865
Median household income$67,321
Per capita income$34,255
Average title loan amount$4,630