Title and Payday Loan
Texas Car Title Loans Are Alternative of Payday Lenders
The current lending market is providing consumers with numerous choices on financing making it easy and convenient to handle varying financial problems. People in Texas can now apply for title or payday loans to get some quick cash since these are processed shortly after application. There are applicants who are able to access the required funds on the day of application.
What is a car title loan?
Some application procedures by lenders can be very frustrating especially when looking for financing to handle an urgent financial problem. If you have a car title on your name, you can now be guaranteed of quick funding by applying for a car title loan. This means that you will be using your car to guarantee the loan provider of having all repayments made as required.
Qualifying for a title loan is very easy since the lenders do not verify the credit rankings of applicants. This means that your application will still be reviewed even with poor or no credit history. It is also common with some loan providers to process the same without considering employment status or income source. Most title loans are payable just several months after approval.
What is a payday loan?
A payday loan provides a convenient way of paying for urgent financial problems that may crop up before the end of the month. This can be considered as an advance that the applicant will be required to settle after receiving his salary. The major requirement on the loan is proof of regular income whether from employment or other sources like disability allowances and unemployment benefits among others.
In most cases, a payday loan is payable within 30 days but some lenders may be willing to extend the repayment over a number of months. The decision is usually made depending on factors like:
Applicants monthly income
Other monthly commitments