How Do Car Title Loans Work in Wichita Falls?

Do you need quick funds to cover unexpected expenses? Car title loans in Wichita Falls can be a convenient resource to consider if you need to get back on your feet! Through a vehicle-secured loan, you can borrow against the value of your car or truck by pledging your vehicle’s title as collateral to guarantee the loan. If you have a poor credit score, you may have a hard time qualifying for traditional bank loans. Thankfully, you don’t need a perfect credit history to qualify for an auto title loan since you’ll use collateral to guarantee the loan and receive emergency funding!1

If you’re fully approved for fast cash and the loan is funded, a title loan lender will place a lien on your car’s title. The lien will remain on your title throughout the duration of your loan and will not be removed from the lender until you’ve made your final payment. However, having a lien on your vehicle title throughout the repayment process doesn’t mean you will lose access to your car. You can continue to drive your vehicle if you prioritize your installment payments and pay your loan on time each month!

The amount of equity in your vehicle and your income are the main criteria used by title lenders to determine your eligibility for online title loans in Wichita Falls, Texas. If you don’t know your car’s equity, you can use LoanMart’s title loan calculator tool to get an equity estimate and a loan quote with absolutely no obligation. Simply enter the following details about yourself and your vehicle into the online form to discover how much your car is currently worth:

  • The Make, Model, and Style of Your Car
  • The Year of Your Vehicle
  • The Number of Miles Listed on Your Car’s Odometer Reading
  • Your Current State of Residence (Texas)

Submit a quick prequalification form online now to apply for the funds you need to manage a tough financial situation. While you can’t get auto title loans with instant approval, you can still apply for a car title loan serviced by LoanMart and find out if you’re pre-approved for emergency cash! Speak with a title loan representative from LoanMart at 855-422-7412 if you have any title loan-related questions, such as “Can I get second lien title loans in Wichita Falls?”

Title loans in Wichita Falls, TX

What is Required to Get Auto Title Loans in Wichita Falls?

Whether you submit an application in person or online, title loans have specific requirements that applicants must meet to get approved for financial assistance. If you’re interested in applying for auto title loans in Wichita Falls, you must typically meet the following criteria when submitting a loan application:1

  • Be 18 Years of Age or Older 
  • Prove That You Have a Steady Source of Income 
  • Have a Roadworthy Car with Enough Positive Equity
  • Be Willing To Use Your Texas Auto Title as Collateral for the Loan

In addition to meeting the aforementioned requirements, you must provide basic documents to verify your personal information and vehicle ownership. Whether you’re going to apply for a car title loan as a resident of Wichita Falls, Fort Worth, or Arlington, here is the list of the general paperwork you must submit to get title loan approval:

  • A Car, Truck, or SUV Title in Your Name
  • Proof of Income and a Wichita Falls Address
  • Clear and Recent Pictures of Your Car
  • Valid, Government-Issued Photo ID Card

If you have a smartphone or computer, you can conveniently upload your paperwork online from the comfort of your home. You can also text or email your documents to a title loan agent from LoanMart during the application process if that’s easier for you.

According to the Federal Reserve Bank of Philadelphia, the average family in a middle-income neighborhood in Wichita Falls has around $57,000 worth of debt. If you’re struggling with a financial emergency and need quick money to make ends meet, you can apply for the financial help you need through an online car title loan serviced by LoanMart. If you meet the initial requirements and submit the right documents, you can access competitive interest rates and receive fast funding in as little as 24 hours!1 3

How Much Can I Borrow Through Personal Title Loans in Wichita Falls?

You can use an auto title loan to cover numerous expenses that are eating up your budget, like medical bills, home repairs, and any other unforeseen expenses. However, the loan amount you can access through personal title loans in Wichita Falls will be primarily dependent on the following two characteristics:1

  • The Total Value of the Vehicle
  • Your Income and Ability to Make Car Title Loan Payments

As a resident of Wichita Falls, you can usually borrow up to half or more of your vehicle’s value if you qualify for an auto title loan. The more value your car has, the more significant your loan amount can be if you can prove that you have the income to handle a bigger monthly payment! If you own an older car or a car with high mileage, you can still qualify for Wichita Falls title loans if your vehicle has sufficient positive equity. Depending on your car’s value and your income, you can access up to $15,000 if you’re approved for a Texas title loan serviced by LoanMart!1

Find out if you’re eligible for fast cash by applying for online title loans in Wichita Falls! If you have questions about the loan amount you can receive as a borrower, you can always call a loan representative at 855-422-7412!

Title loans in Wichita Falls, Texas

Does a Title Loan in Wichita Falls Go on Your Credit?

Typically, an auto title loan will go on your credit report if a title lender reports your payment behavior to one of the three major credit bureaus: Experian, Equifax, and TransUnion. In the event that a lender reports your payment behavior, your actions as a borrower can positively or negatively affect your credit history. If you default on your loan and a lender repossesses your car, the vehicle repossession can leave a derogatory mark on your credit report, which may ultimately harm your credit score. However, you can positively affect your credit score if your timely payments are reported and you keep your title loan in good standing!1

Whether your payment behavior is reported or not, it is essential to stay on top of your installment payments to avoid the consequences of a title loan default. If your financial situation changes when paying back a title loan, you can discuss your problems with your lender to discuss solutions. You can request options like a loan extension to move one or two payments to the end of your loan, or ask to change your due date. If your existing loan terms are difficult to manage, consider refinancing your title loan with another lender to find more optimal interest rates and more time to cover your loan payments!1

Don’t forget that you can apply for a vehicle title loan online, even if you have a bad credit score. While finding title loans in Wichita Falls with no credit check isn’t an option, you can still qualify for emergency funding despite having a bad credit score! Apply for an auto title loan serviced by LoanMart today by completing a short online questionnaire. You can access quick funds in as little as one business day if you qualify!3

What are the Benefits of Getting Online Title Loans in Wichita Falls, Texas?

An online title loan in Falls Town can be helpful when you need quick funds to handle an unexpected financial emergency. However, did you know that a car title loan serviced by LoanMart can provide additional benefits beyond fast funding?1

Take a closer look at some of the reasons why applicants choose to apply for this secured loan option when searching for the best title loans in Wichita Falls, Texas:

  • Convenient Ways to Make Your Loan Payments
  • Access to a Quick and Simple Application Process
  • No Hidden Fees During the Repayment Period5
  • Different Methods to Get Your Funding
  • No Penalties for Paying a Loan in Full Early5
  • The Freedom to Use Your Money on Personal Expenses
  • Transparent Loan Terms and No Balloon Payments5

Don’t hesitate to apply for the money you need to recover financially through an auto title loan serviced by LoanMart! You can start your application online now by submitting a brief pre-approval form, or you can visit our FAQ page if you want more information about getting car title loans in Wichita Falls.