Title loan companies work to help people such as yourself get money during tough financial times. In order to get a Car Title Loan Service in San Antonio to lend you money for your car, you must own the car outright with the title in your name. If you are making payments on the vehicle, you won’t be able to secure a title loan. There are couple of tips you should follow when you get a title loan. If you want to avoid problems, take out a loan just to cover the amount you need to get out of your financial jam. If your car is in great condition and is a new model year, you may be offered a significant amount of money as a loan. This can be a tempting offer. Some find it too hard to refuse, but if you borrow more money than you can afford to pay back to the loan company, you run the risk of losing your car.
Bad credit makes you a loan risk to most loan companies. And, in some cases, no credit can be just as bad as having bad credit. Without a credit history, it can be virtually impossible to get a lender to loan you money. Your credit is irrelevant if you solicit the help of a Car Title Loan Service in San Antonio, like Xpress Title Loans, or any other title loan company.
Title loan companies don’t have to look into your credit. Your vehicle’s title is the only thing that matters. Are you in the process of rebuilding your credit? If so, you are probably aware that inquiries into your credit can be on your credit report for a couple of years. These hard inquiries cause your score to be lower. You can use a title service to avoid hard pulls on your credit report while you are in the rebuilding process.
Did you know that some title loan companies allow you to take out a loan to pay off an existing title loan? You don’t have to lose your car if you have an outstanding title loan. Don’t panic. Just look for a service that will help you to cover your preexisting loan. Some companies will even let you refinance a loan that you have taken out with them.
