How Car Title Loans in San Antonio Work

How Car Title Loans in San Antonio Work

Do you need money? Then consider applying for a car title loan. This types of loan offers people a way to get money fast. All you have to do is own your vehicle and have a source of income. To garner more information about Cash Title Loans in San Antonio, learn about the basic process of getting a car title loan. Remember that every company can set its own rules but must adhere to state regulations.

When you apply for a loan, you will give your name, address, and phone number. The company will probably photocopy your driver’s license as proof of your contact information. You will also have to give your source of income. This does not have to be a regular job. You can also provide information about self-employment, disability, or social security. The company will need proof of your income such as a paycheck stub or bank statement. The title to your vehicle must not have any liens against it. If another person’s name is on the title with yours, both you and this person will have to sign the application and contract. A free and clear title in your name is needed to use the vehicle as collateral for a short-term loan.

After this basic information is confirmed, the company will check if you qualify for a loan. Most of these loans don’t use a person’s credit as a basis for eligibility. If you are approved, the lender will keep your title and you will keep the vehicle. Any contract you sign should show the annual percentage rate. This is the cost of your credit at a yearly rate. The finance charge is the dollar amount the credit will cost you. It should also show the amount financed and the amount the total payments will add up to after making all scheduled payments.

Cash Title Loans in San Antonio are a way for people to handle life’s emergencies and unexpected situations. This can save you from having to apply for a loan from a traditional lending institution. For more information on car title loans, please talk to a consultant at Xpress Title Loans. This company can handle a car title loan with minimum requirements.

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