Most Americans use credit to pay for their luxury purchases. For instance, a house, vehicle or even a vacation. However, the prevailing economic crisis has affected numerous individuals, and made it impossible for people with bad credit history to qualify for loans. But most loans come with high interest rates. If you want urgent cash, then title loan Texas can be your biggest savior in the worst economic crisis.
Title loans are basically short-term loans that you take against your possessions, especially your automobile. However, you just need to have the title as collateral. You still can keep your car with you. With title loans, you actually use your possession as a collateral security in order to get instant cash.
As lending standards have gotten stricter, some individuals find it extremely difficult to borrow money from reputed financial institutions and lenders. Title loans are commonly used by people looking for instant loans to meet their financial expectations and/or obligations.
Usually, title loans offer a loan amount that is based upon the present equity of the collateral. Thus, the loan amount offered is almost equal to the current market price of the collateral. In case the borrower fails to repay the borrowed amount, then the lender has the right to confiscate the collateral and resell it to cover the loss incurred.
Quality Title Loans has been one of the most reputed lenders for obtaining a title loan Texas. Obtaining a loan from the company offers a number of benefits that you may not be able to attain with traditional loan providers. Here are some benefits to look forward to when availing title loans from the company.
No Problem With Bad Credit – Title loans allow the borrower to use the title of their car as collateral. Thus, the loans provided by Quality Title Loans do not require any credit check. These loans are available to people with bad or poor credit.
Speedy Closing – Another benefit of choosing this service is that they ensure speedy processing and closing. These types of loans offer quick and instant closing. In most cases, the application for loan and approval process may not even take more than fifteen minutes and often less. On the other hand, some other lenders in the industry can take days to approve your loan, adding to overall frustration of the process.
Live Chat – One of the best things about applying for title loans is that you can clear your doubts and queries instantly through the company’s 24/7 live chat. Regardless of the type of query you wish to ask, the experts at the live forum will help you resolve it within a short period of time.
Best part is that you do not have to deal with the bank personnel or wait for them to respond. Everything is done automatically and wrapped in the least possible time. This saves you both time and energy, as you do it comfortably from the comfort of your own home or office. In fact, the company also offers flexible packages according to customer situation. There’s not even any prepayment penalty fees.
Like all other kinds of loans, title loans can prove to be a blessing when life decides to throw a curve ball your way. In the event of most unexpected life events at financially inconvenient times, title loan Texas can take away your anxiety and give you peace of mind for some time.