For the convenience of our customers, Eastview Title Lending has a central location here in Lancaster, TX. We understand how frustrating it can be when you’re scouring the web for title loans Lancaster, and you get a bunch of listings for title loan companies that are well outside of the city.
No one wants to go through a long drive just to get a title loan, and with our office, you can get here quickly on freeways or surface streets. It’s not hard to find parking nearby, either.
Once you get here, it’s a good idea to mention if you put in an online application already and got preapproved for your loan. A representative will provide you with the necessary paperwork to complete and sign, which doesn’t take long, and then we just need to figure out what your car is worth.
We’ll plug the details on it into a vehicle value guide and perform a short inspection, helping us calculate its current market value and decide how much we can lend you. Once you’ve given us your car title, we’ll issue your title loan. Wondering how long you’ll be here? We find that the majority of our customers are in and out in under an hour.
The title loan process is easy enough to understand, although there are many regulations that vary by state for this type of loan. You’re getting what’s known as a secured loan, and it’s secured because it has your car as a piece of collateral for the lender to repossess and sell if you default. The lender only has your car title while you pay back your loan, but they can send someone to repossess the car as soon as you default.
The state limit for all title loan contracts is 180 days. Since title loans are short-term loans, lenders usually set up their loans with 30-day terms. This is true in Texas and almost every other state, save the few that have laws requiring longer minimum term lengths.
Federal law requires all title loan borrowers to be at least 18 years of age or older. Other than that, states set up their own regulations on the title lending industry, with title loans Lancaster, TX falling under the regulations set by Texas.
Texas doesn’t let lenders charge higher than a 10-percent interest rate on title loans, although there is the possibility of charging additional fees. The state hasn’t put any limit on how much you can borrow through a title loan, which means that depends 100-percent on how much your car is currently worth and how much your lender is willing to loan you.
What happens if you don’t have the money to pay off your title loan on its due date? Fortunately, there’s an alternative available. You can extend the loan, which is typically referred to as rolling over the loan.
By paying any interest and fees on the loan, you can carry the unpaid loan principal into a new term of the same length as the old one. This new term will have new fees and interest, which means it costs you a bit more, but it’s better than defaulting and getting your car repossessed.
The 180-day limit still applies if you roll over a title loan. This means that on a typical 30-day title loan, you could end up extending it five times before running into that 180-day limit. Once you reach 180 days, state law requires you to pay your entire title loan in full, including the principal along with any interest and fees
One of the biggest stressors for most people is financial concerns. It’s tough when you don’t have much of an emergency fund built up, as a single unexpected bill can leave you in need of quick cash. In situations where you need money right away, title loans Lancaster are a convenient, fast option available to anyone who owns a car. You get to use the money from your title loan however you want, which means you could put it towards medical expenses, a car repair, past-due bills or any other issue that’s straining your budget.
Even though the title loan process is already quick and easy, here at Eastview Title Lending, we wanted to improve on it. We set up a simple online application process for title loans Lancaster, TX, and you can fill out that application here on our site in less than a minute.
The application starts by asking you for some basic info about the vehicle that will be serving as the collateral on your title loan, which means you’ll need to provide your car’s:
• Year, Make, Model, Body style, Estimated mileage
The only other fields you need to complete on the application will ask for the following contact info:
• Your full name, Your cell phone number, Your email address
Once you click submit, we process all that information and can get you preapproved for a title loan. With the vehicle information you provided, we can estimate your car’s current market value and come up with a free estimate on a title loan.
One of our friendly Eastview Title Lending representatives will also get in contact with you as soon as they can to give you more information about obtaining your title loan.
You may be wondering what you’re going to need with you when you come to get your title loan. This is part of what makes title loans so convenient, as you’re not going to need to dig up old tax returns, find any recent paystubs or bring bank statements.
All we will need to see is your government-issued ID to verify your age and your car to evaluate its condition. We also need to hang on to your car title, which we store in a safe place and return when the loan is paid off.