Title Loans in Houston, TX | Discount Car Title Loan (2024)

FAQs

How to get a title loan for a car in Texas? ›

Besides income proof, residency, and a clear car title, lenders may request a government-issued ID, proof of insurance, and references. Requirements vary, so it's vital to check with the lender for their specific documentation needs.

Since 1998, we at TitleMax have established a nationwide reputation as a reliable consumer lender with helpful and attentive customer service. If you need money quickly, an auto title loan in Dallas, TX, may be your ideal solution.

A title loan company is there to provide every help possible to its customers; however, the title loan must be in the name of the car owner. There are few lawful restrictions to follow during the deal, and the rules don't allow offering asset on the amount that doesn't belong to you.

You might think you can apply for a car title loan with just the bill of sale, but that's not the case because one key requirement for a car title loan is proving you own the car. To show the loan agent that you legally own the car, you must provide a car title in your name.

A title loan can help Houston-area people get the money they need right away. The qualification process is quick, and you can take care of any expenses you have. You will need to pay your title loan back promptly to avoid late fees. This can be anywhere from a couple of months to a full year.

TitleMax® does run credit checks on all new applicants, but that may not disqualify you for a personal loan or title-secured loan/pawn.

A writ of garnishment allows a creditor to seize property from a debtor that is being held by a third party. While some property is exempt from garnishment in Texas, such as wages, other property such as bank accounts and stocks may be subject to garnishment.

If a person buys a vehicle without putting it in their name and then sells it, it is known as title jumping. This illegal act is also referred to as title skipping or floating. When there is a jumped title issue, the new buyer cannot register the car in their name with the DMV.

Both parties own the motor vehicle and, if there is a lien involved, both are jointly and separately liable for repayment of the entire loan.

Vehicles are required to be titled in the buyer's name within 30 days from the date of sale. Failing to properly transfer a vehicle into the buyer's name could result in the seller being held responsible for tickets, toll violations or even crimes committed with the vehicle.

Can someone be on the loan but not the title? ›

It is possible for a borrower to be on the loan but not on the title of a property. This can occur in situations where the borrower is acting as a non-occupant co-borrower to help a relative or friend qualify for a mortgage, but does not have any ownership in the property.

It's important to note that Texas law limits the amount of a title loan to the lesser of 70% of the vehicle's value or 3% of the borrower's gross annual income. In addition, the interest rate on title loans in Texas is capped at 10% per month, which can add up quickly over the repayment period.

You will not be able to take out a collateral-based loan with an asset that does not belong to you, so the car title must be in your name at the time of your application. Title loans are a type of secured loan that can be flexible and convenient if you need quick funding to deal with an unexpected expense.

If You're the Buyer…

You need to complete the remainder of the title application that the seller provides to you. Bring the completed application and your bill of sale to the Texas Department of Motor Vehicle within 30 days of the sale date. You will also need to bring: Proof of a completed Motor Vehicle Inspection.

It's important to note that Texas law limits the amount of a title loan to the lesser of 70% of the vehicle's value or 3% of the borrower's gross annual income. In addition, the interest rate on title loans in Texas is capped at 10% per month, which can add up quickly over the repayment period.

Fees one can expect to pay when purchasing a vehicle in Texas are as follows: Sales Tax: 6.25% of the total vehicle purchase price. Title Transfer Fee: $28 to $33 (varies by county)

Please allow a minimum of 20 business days for processing of your title application. If there is a lien on the vehicle, the lienholder will receive the title. If you have not received your title within 30 business days, please contact us.