Frequently Asked Questions
Why should I use VIP Finance as opposed to other title lenders?
- VIP Finance has the lowest total payback in the industry
- VIP Finance is locally owned and operated as the first auto title lender in the Metroplex with thousands of satisfied customers
- VIP Finance is a registered lender with the State of Texas governed by the Texas laws
- Most of our competitors are out-of-state lenders governed by out-of-state laws that are more favorable to them
- VIP Finance offers the most lenient grace period for late and missed payments in the industry
- VIP Finance offers cash advances on your current loan if you need additional money
- VIP Finance offers real loans with up to a one-year term. Unlike our competition, VIP Finance offers real loans with real terms, not a one-month loan that expires every 30 days. With VIP Finance, you don’t need to fill out new loan paperwork every time you come in to make your payment
All title loan companies say, “We are the best and cheapest”. Who is telling the Truth?Simple answer, ask our competitors what their legal A.P.R. (Annual Percentage Rate) is. Our rate is 6% their rate is 150% to 300%+. Or click here to view our competitors’ contracts.
What is an auto title loan?An auto title loan is a loan based on the value of your vehicle, otherwise known as “pink slip loans.” We have programs that provide you with quick access to cash based on the value of your vehicle, NOT your credit score! Your vehicle is your credit. Remember we loan you the money, and you get to keep your vehicle.
Where does my payment go?Every time you make a payment with us your loan balance goes down. With our competition, your payment is “ALL INTEREST” and your loan balance never goes down.
What happens if my vehicle is wrecked or breaks down?In lieu of the lenders insurance requirements, we offer an optional Auto Club to protect you and your vehicle during the term of the loan. If you wreck your vehicle, you can turn it in and your loan is 100% paid for by the Auto Club. If your vehicle suffers a mechanical breakdown, our Auto Club offers free towing to one of our service centers for evaluation and a fleet rated discount on the repairs. The Auto Club installs a free stolen vehicle recovery device, GPS, to aid in locating and recovering your vehicle in the event your vehicle is stolen. Our competitors offer nothing to protect you or your vehicle leaving you responsible for the full balance of the loan plus high interest rates.
Can I keep my car?Yes, you stay the owner of your car. You continue to drive your car with no restrictions.
What if I have really bad credit?Your vehicle is your credit. We don’t do a credit check.
Can I get a loan if I collect disability or am retired?Yes, you just need to prove your income is consistent.
Does my car need to be paid off?No, your car does not need to be paid off. We can pay off your current loan and save you money!
What do I need to bring?
- Your vehicle for inspection
- Clear Texas title (if available)
- Extra set of keys (if available)
- Proof of income
- Proof of residence