The purpose of this post is for advertising purposes. Unlike many other loans in Texas, ChoiceCash Title Loans don’t have a series of hoops and requirements borrowers have to meet in order to get fast approval!1 ChoiceCash Titles Loans, serviced by LoanMart, are a different type of title loan. Unlike most title loans in Texas which are offered through a Credit Access Business, ChoiceCash Title Loans are a title loan made through a traditional bank!1 With ChoiceCash Title Loans, serviced by LoanMart, there are therefore no Credit Access Business fees.
How Does a ChoiceCash Title Loan Compare to a Typical Texas Title Loan?
ChoiceCash Title Loans can offer some very competitive features for Texas residents who are looking for a title loan.1 The primary benefits for Texas residents when choosing ChoiceCash Title Loans, serviced by LoanMart, may be:
- Competitive APR1
- More time to pay back your loan, if that is what you need
- No balloon payments or pre-payment penalties
- Your rate and payment may decrease each month2
Competitive APR on ChoiceCash Title Loans in Texas
According to the Texas Office of Consumer Credit Commissioner, the average APR for a title loan obtained through a Credit Access Business in Texas is around 238%. Which can be considered quite high. Thankfully, ChoiceCash Title Loans come with industry-wide competitive rates, so you know you’re finding a great deal!1 Choosing a loan with a lower APR could save you a lot of money! If you are considering loan options from other providers, we encourage you to compare the annual percentage rate (APR) of all your loan offers, since the APR takes into account both interest and loan fees such as the fees you may pay to a Credit Access Business.
More Time to Pay Back your Loan in Texas
Most title loans in Texas have a loan term of 6 months or less, and many Credit Access Businesses even offer title loans that are single-pay, meaning you have to pay back your loan in one month. Since you needed a loan in the first place, you may not have the funds to pay back the entire loan amount after such a short time, and as a result, you may need to obtain additional loans and pay additional fees. With ChoiceCash Title Loans, serviced by LoanMart, terms are flexible and make to work with your unique financial situation. That means if you feel like you need more time to pay your title loan, all you have to do is call 855-914-2945 to talk to a ChoiceCash Title Loans specialist about extending your terms.
However, if you don’t feel like you need more time to pay, and would like to pay your loan off early, that is also an option with ChoiceCash Title Loans! Enjoy freedom from stressful charges like pre-payment penalty fees when you get a ChoiceCash Title Loans serviced by LoanMart.
No Balloon Payments on ChoiceCash Title Loans in Texas
Some title loans in Texas come with balloon payments. A balloon payment is a larger-than-usual payment at the end of the term of your loan. When you sign up for a loan with a balloon payment, you need to make sure you can afford to make the balloon payment when it is due. Loans with a balloon payment can be risky for the borrower since at the end of the loan, you owe a payment that can be much larger than a normal monthly payment.
ChoiceCash Title Loans, on the other hand, is a simple-interest funding option that is designed to be fully amortizing. This means that if you make your payments on time, your final loan payment shouldn’t be larger than your other convenient loan payments!2
Lower Interest Rate and Payment Each Month for Qualified Texas Residents2
ChoiceCash was designed with everyday people in mind. That means perks and benefits you won’t find anywhere else. With a ChoiceCash Title Loan, Texas residents have the opportunity to earn a lower interest rate and payment each month, until the end of the loan term.2 And how can Texas residents earn their lower interest rate and payment? Simply by keeping your loan on track and in good standing!2 As long as you keep your loan account in good standing, your loan will qualify for a rate and payment reduction each month.2 As a result, your final loan payment at the end of the loan could be half as much as when you began making payments!2
Is a ChoiceCash Title Loan in Texas Right for Me?
If you’re in Texas and looking for a competitive and convenient loan that can offer you great benefits, a ChoiceCash Title Loan could be the right choice for you. Also, one of the great things about ChoiceCash Title Loans is that the approval process is streamlined and efficient, which means you could get your money in as little as 24 hours or less.1