An auto title loan Mesquite is available to you regardless of your credit. We at VIP Finance are not interested in what your credit rating is. If you own a car and can show us the means to pay back the loan, we will give you approval for a title loan.
How does it work?
The way it works is that you leave the title for your car with us. We give you the cash, and you can drive away with your car. We make the entire process easy.
We do need to see your car to make sure it is running and get a general value for the car. How much money you can get for a title loan will be dependent upon how much cash value your car has.
Avoid payday loans
If you have the title to your car, it is foolish to think about a payday loan. These lenders do not ask for any security, so their interest rates can reach astronomical levels.
Many people who borrow from this type of lender have trouble paying them back if only because of the fees. When you get a title loan from VIP Finance, the equity in your car is the security for the loan; therefore, the interest rates are much lower.
In fact, you can get six percent on a one-year title loan from us. This is the lowest interest rate for a title loan found in the state of Texas.
Title loans are different from payday type loans.
Interest rates for 30-day payday loans are so high they seldom quote the interest rate but instead give you the fee that will be charged. When the loan comes due, a borrower needs to pay back the lump sum all at once. With a title loan, you are paying part principle and part interest throughout the term of the loan. Each month you are making progress in paying down the principal amount.
What you will need to apply for a title loan
You will need to show us proof of your income, so we are confident you can pay back the loan. The title to your vehicle must be clearly in your name, and it must be a Texas state title. You must also prove that you are a resident of the state of Texas. Other than those three requirements, we only need to inspect your car as we mentioned previously. If you bring the proper documents with you along with your vehicle, the entire loan process can be done in as little as 30 minutes.
Can you get a loan for a motorcycle?
We get this question a lot. Although sometimes referred to as auto loans, we will loan money on any vehicle with a Texas title. This includes, but is not limited to, motorcycles.
We also will loan money on recreational vehicles, trucks or even industrial equipment. In fact, anything with a clear Texas title.
What if you don’t yet have the title?
If you don’t have the title yet because you still have a few payments on your vehicle, give us a call. What we can often do, is pay off the balance owed on your car and combine that with the loan amount you need.