Life can present you with all kinds of unplanned expenses. That could be a car repair, an issue with your home, a medical problem or something entirely different. If you currently live paycheck to paycheck, any extra bill can put you in a tough spot, especially if you don't have much in the way of savings. On the bright side, you can get the money you need through the value in your car when you choose title loans New Braunfels. Unlike most other types of loans, title loans are fast and easy to get, making them very convenient.
At Marigold Title Loan Lenders, we believe in making the title loan process as simple as it can be, and that's why we set up our very own online application for title loans New Braunfels. That application is available right here on our site, and it typically doesn't take people more than 30 seconds to complete. All you need is some basic information that you'll likely know off the top of your head, starting with the following information about your car:
The rest is just the following basic contact info:
Once you've provided us with all that information and submitted the form, we run your car's information to come up with its current market value and calculate your free vehicle loan estimate, which will be under the assumption that the car is in good overall physical condition. We will also instruct one of our Marigold Title Loan Lendersrepresentatives to contact you at their earliest convenience and guide you through any questions you have. They can also help you figure out a time to come get your loan.
It's natural to wonder what items and documents you'll need when you come to get a loan, and fortunately, title loans have far fewer requirements than most traditional loans. You won't need to gather tax returns from the last couple years or pull up all your financial statements. For a title loan, we just need to see your government-issued ID, your car and your car title. The ID is to check your age. We need to see your car to verify that you have it and evaluate its condition. The car title is what we keep over the repayment period of your loan. We give it back upon full repayment.
We're sure that the last thing you want when you're looking for title loans New Braunfels is listings from lenders that aren't even in or near New Braunfels. Many borrowers choose title loans because of how convenient they are, and that's not the case when you have a lengthy drive just to get your loan. Don't worry about that when you go with Marigold Title Loan Lenders. We have a central location in New Braunfels for the convenience of all our customers, and it's a nice drive whether you decide to get here by taking surface streets or the highway. Parking is plentiful, as well, which means you won't need to walk far.
Upon your arrival, one of our reps can assist you. Make sure you mention to the representative if you entered your information into our online app to get a preapproval on a title loan. There will be a few pieces of paperwork to sign, and then we'll enter your car's info into a vehicle value guide. We'll perform a brief inspection of the vehicle and compare its condition to the information in the value guide to determine its current market value. We use this to finalize the amount we can lend you. The final step is getting your car title, and then we can issue the loan. The entire process is typically done within one hour.
Loans can be either unsecured, meaning they don't have any collateral attached to them, or secured, meaning they do. Title loans are one of many types of secured loans. Mortgages are another popular secured loan where your home serves as the collateral, which gives the lender the right to repossess it if you default.
With a title loan, your car is the loan's collateral, which is why the lender keeps your car title over the loan term. If you default on the loan, the lender then has the right to repossess and sell your car. Title loan laws, including repossession laws, vary by state. Texas doesn't require lenders to wait any minimum period of time before repossessing a car, instead giving them the authority to repossess it right when you default. This is why it's so important to make your payment or extend your title loan, if necessary.
The state hasn't set any limit on the amount that can be borrowed with a title loan. It has capped interest rates at 10 percent, although it's important to note that there can be other fees besides interest.
As far as terms go, the maximum length for a Texas title loan is 180 days. Now, it's uncommon for lenders to set a term of that length right off the bat. Instead, lenders will usually set up title loans with terms of 30 days. This is the standard length in Texas and around the country, except in states that have laws requiring longer terms.
If you're short on money and can't pay off your loan when the term ends, then you have the option of renewing it instead. This is when you pay any interest and fees on it, without worrying about the loan principal. Your loan then continues into a new term of the same length as the old one, with new interest charges and fees on top of the unpaid loan principal. Although you spend a bit more doing this, it's convenient and ensures that your car doesn't get repossessed.