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In a difficult financial situation, you may be looking into loan options to help get you through. If you don’t have a great credit score, or maybe you really need a loan that can be approved quickly, then a title loan may be a really good option for you.
If you are in Austin, Texas and you are in need of a loan quickly, a ChoiceCash Title Loan serviced by LoanMart may be a good option for you. Title loans have fast and flexible approval1, so it makes them a great option for emergency funding situations.
What Are Title Loans in Austin, Texas and How Do They Work?
A title loan, which may also be known as a car title loan, an auto title loan or a pink slip loan, is a type of secured installment loan. Secured loans are any type of loan that has collateral. Collateral is when you use an object to back a loan so that the lender feels that the investment is safe enough to approve. Installment simply means that the loan is repaid at regular intervals over a loan term.
When you use collateral to get a loan, the lender isn’t putting as much importance on the borrower’s credit score to secure the investment. When you give collateral for a loan, you are in a way getting back the equity that is invested in your asset, in this case, your vehicle.
When you use a vehicle’s title as collateral for a loan, the lender places a lien on the title. This allows them to be able to get back what they have invested should the borrower stop repaying.
ChoiceCash Title Loans Have Specific Benefits
ChoiceCash Title Loans are a type of title loan that has special benefits built in. Here are some things you can expect from a ChoiceCash Title Loan:
- Competitive Rates – ChoiceCash Title Loans have interest rates that are competitive with the rest of the title loan industry, meaning that it is cheaper to get a ChoiceCash Title Loan than some others.
- Loan Rewards – ChoiceCash Title Loans have loan rewards that may result in your monthly interest rate falling over time with regular monthly repayments.2
- Approval is More Flexible– There are many things that might disqualify you for traditional loans that might not for a ChoiceCash Title Loan. There is flexibility in title status, income type, credit history and many other aspects.1
- More Time to Repay– ChoiceCash Title Loans allow more time to repay the loan.
A ChoiceCash Title Loan is designed to be easy and simple to get, so there is a simple and easy 3 step process to get your loan.1
The First Step to Get a Title Loan in Austin, Texas
The first step is so easy and fast and will probably only take 5 minutes to do.1 At the ChoiceCash Title Loans homepage, fill out the prequalification survey. Answer the required questions about yourself and your vehicle and you could get an instant prequalification decision.
The Second Step to Get a Title Loan in Austin, Texas
There is minimal paperwork needed to get a ChoiceCash Title Loan because they are designed to be fast and easy. Here are some things that you’ll probably need.
- A Valid Government-issued Photo ID: This includes a driver’s license, state ID, or passport. It cannot be expired.
- Proof of Residence/Address: A rental lease, home title, voter registration card, or utility bill.
- Evidence of Income: These can be recent pay stubs, pension documentation, Social Security Administration account statements, retirement account statements, or similar. Need not be explicitly from a job.
- Photos of Your Vehicle: You will need photos of all four sides of your car as well as the VIN and odometer. This is for valuation and documentation purposes.
- Your Vehicle’s Title: The title must be in your name
- Four References are Typically Required: Personal, professional, or both
The Third Step to Get a Title Loan in Austin, Texas1
If approved for a loan, and once the required documentation has been sent in, all that is left for you to do is read over your loan agreement, sign it and accept your funding.
There are Multiple Convenient Way to Get Your Money
Because the ChoiceCash Title Loan is designed to be as convenient as possible, there are a few different ways that you can get your funding from your title loan. Here are the common ways you can get your money:
- Get a Physical Check in the Mail
- Receive Direct Deposit
- Go to any Local MoneyGram Location in Austin, Texas
Get a ChoiceCash Title Loan Today
If you’ve done your research and you think a title loan is right for you, then you should inquire today and get a ChoiceCash Title Loan. It’s a fast and easy process that could help you get what you need.1