When you’re looking for car title loans in Houston, TX, the last thing you want to do is end up driving to some city or town dozens of miles away just to get your money and later, to get your car title back. That’s not a problem with Nielsen Title Loans, as we have our office right here in Houston. We’re easy to access whether you’re taking surface streets to get here or riding on the freeways, and you’ll have no problem spotting the Nielsen Title Loans sign when you get close. There’s also no shortage of convenient parking near our office.
Once you get here, one of our helpful car title loan representatives will be able to assist you. If you already received a pre approval through our website, make sure that you mention that to the representative. You’ll be asked to complete a bit of brief paperwork, and then there will be a quick vehicle inspection. We only need to check out your car to verify its current market value, since that determines how much we can lend you. When that’s all finished, we simply need to get your car title and we can issue your loan.
To start, head over to the title loan application form right here on our website. You’ll need to fill in the following information about the car that you’re planning to use as collateral on your title loan. Using that information, we can get you pre approved for a car title loan and calculate how much money we can lend you, provided that your car is in good condition.
As far as what kind of documents you need to bring in when you visit us, we don’t require anything you wouldn’t already have when you go for a drive. First, we’ll need to checkyour government-issued ID. This is just to make sure that you’re at least 18 years of age, because that’s the minimum age to legally apply for a car title loan. Then, we’ll need to hang on to your car title for the duration of the loan. Once you’ve repaid your loan in full, we give that back to you. Compare that with all the financial records you’d need to bring in when getting a loan through a bank.
We will ask about your income to verify that you’ll be able to pay back what you borrow against your car. If you can bring a form of income verification, such as a paystub, that’s great. Otherwise, you can provide us with an estimate of your income to get your Houston, TX title loan.
The federal government gives each individual state quite a bit of leeway in setting up their own title loan laws, so here at Nielsen Title Loans, our loans abide by all the regulations set by the great state of Texas.
Now, a title loan is a loan that uses your car as its collateral. Because of that, the current market value of the car is the basis for how much money you can borrow. You don’t need to worry about finding other transportation options, though, because you keep your car during the entire repayment period of the loan. All we keep is your car title until you pay back the loan.
Texas doesn’t regulate the maximum interest rate that lenders are able to charge for title loans, but this isn’t a problem for borrowers. Without any set maximum in place, lenders must offer competitive interest rates if they want to get any customers.
Title loans in Houston, TX usually have a repayment period of 1 month, both in Texas and most other states in the nation. You aren’t out of options if you’re unable to pay your loan off, as you can still roll over the loan. Rolling over a loan means that you’re only paying the interest, and taking the loan principal into a new repayment period. This does incur another interest charge, but overall, it’s a good option if you need some extra time to pay back your loan.
If you don’t make your title loan payment, then you’ve defaulted on your loan, which means your car belongs to the lender and they’re legally able to repossess it. Keep in mind that the vast majority of borrowers hang on to their cars throughout the entire title loan process. You’re able to roll over the loan when you need to, and the truth is that lenders don’t want to repossess your car. That process takes time and money, and it’s far better for lenders when borrowers simply make their payments.