If you need money urgently, a car title loan can be a quick and easy solution. By using your vehicle’s title as collateral, you could have the cash you need the same day1– but after the money’s gone you’re left with the payments. Fortunately for qualified residents of Killeen TX, there’s Title Loans, serviced by LoanMart, a new title loan that continues to reward you even as you repay the money.
What Are the Benefits of a Car Title Loan?
Title loans work by using your vehicle’s title as collateral, allowing you to borrow money against the equity in your car. The loan decision is based upon your vehicle’s value and your ability to repay the loan, so regardless of your financial situation or credit score, you’re more likely to get approved for a title loan than a regular personal loan1.
How Does a Title Loan Work?
Title loans work in much the same way as a regular personal loan. After you receive your funds, you make the agreed-upon monthly payments until your loan (including interest) is paid back in full. You typically have anywhere from two to five years to repay the money, but the longer the term the more interest you’ll pay. The big difference between personal and title loans is that the borrower is required to surrender the title and the lender is added as a lienholder. Once the loan is repaid in full, the lender removes the lien from the title and a clean copy of the title is then sent to the borrower.
See our options for Title loans in Texas, or call 1-888-925-9368 to get started!