One of the top reasons why our customers try to get an auto title loan Plano is because they’ve fallen on dire financial circumstances. Unfortunately, many people turn to the local pawn shop.
Rather than pawning your wedding ring, you can get a title loan.
Many people don’t realize that their automobile is actually an asset. When financial circumstances become dire, an automobile can be used to get a title loan. We will never check your credit, and we make getting a title loan very easy.
What a Title Loan Really Is
It’s unfortunate that many people don’t even know what a title loan is.
Put simply, it’s a short-term loan that you can get when you need cash. If you can’t get a loan from your bank and have no other way to get a loan, you can get a title loan through us.
When a customer gets a title loan through us, they’re using their vehicle as collateral, and in exchange, we provide them with the funds that they need.
The process of getting a title loan through us is very simple.
What Can The Loan Money Be Used For?
Our customers use the money for many different purposes. What the loan money is used for really depends on each individual’s unique situation.
For example, a person who is about to be evicted from their residence will probably use the loan money to pay their rent.
Someone who cannot work because their vehicle is not working will likely use the money to pay for vehicle repairs. In most cases, our customers obtain a title loan for an emergency situation. Our customers might use the loan money for financial financing that they’d otherwise have no way to obtain.
What Is Required?
Many of our customers worry that they don’t have the proper documentation required to get a title loan, and most of our customers are surprised to learn about the minimal amount of documentation that we require.
Obviously, the main piece of documentation that we require is a clean car title.
It’s important to understand that the vehicle title must be clean, which means it doesn’t have a mechanic lean on it or something similar. If you want to get a loan through us, you will need a photo ID. Some people might need to provide a few more documents than others.
What Is My Loan Amount Based On?
When we decide how much money we can loan you, we look at your vehicle’s equity. Just like a home has equity that can be converted into cash, a vehicle also has this equity. We might look at some other factors as well, but for the most part, vehicle equity is the top factor that determines how much money we can loan you.
How Is This Possible?
We are able to loan our customers money because we use their vehicle’s title as collateral. One way or another, our loans are basically guaranteed to be paid.