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When you’re strapped for cash, a car title loan is a fast, easy way to get the money you need. But how much can you borrow on a title loan? Are there ways to increase your car’s value so you can borrow more? And what rates and terms you need to know about? Find the answers you’re looking for here.

How Much You Can Borrow

You need to own a car (and meet other qualifications) to apply for a title loan. Many lenders require you to own the car outright, meaning you aren’t making payments on an auto loan.

The amount you can borrow depends largely on how much the car is worth. Most lenders give out title loans for 25 to 50% of the car’s value. A typical loan is usually between $100 and $5,500, though some may exceed $10,000.

Once your application is approved and you have the money in hand, you leave your car title with the lender. Still, ownership remains in your name, and you can continue driving your vehicle like normal.

How to Increase Your Car’s Value

Since title loans are related to your car’s value, you may increase the amount you can borrow by raising your vehicle’s worth. There are several free and low-cost ways to do this:

  • Clean your car inside and out.
  • Make cost-effective repairs, such as replacing burned-out lights, touching up scratches, and fixing torn upholstery.
  • Be kind to your car by driving carefully, checking the tire pressure often, and keeping up with oil changes.
  • Negotiate your loan amount based on what you know your car is worth. (If you’re not sure, look up the make, model, and condition on Kelley Blue Book.)

Paying Off a Title Loan

Many title loan companies require loan repayment within just 30 days. That doesn’t give you much time to get your finances in order. But if you extend the loan term, you’ll owe more interest and fees, making it harder to get out of debt.

VIP Title Loans does things differently. Our interest rates are the lowest you’ll find anywhere, allowing you to borrow affordably. We also offer terms up to 12 months, giving you ample time to pay back your loan without the risk of default. We’ll even work with you to help you succeed if you’re struggling to make payments. Of course, we allow you to pay off your loan early without penalty, saving you money in the long run. No other title lender offers more compassionate, flexible loan payoff options!

Between our considerably lower interest rates, longer term limits, and easy application process, VIP Title Loans is the best title loan option in Texas. We’ll approve your application and give you the cash you need within just 30 minutes—no credit check required! To learn more, please call us at 817-265-2274, fill out our online contact form, or visit one of our six locations in the DFW Metroplex to speak with a lending agent in person.