If you need money urgently, a car title loan can be a quick and easy solution. By using your vehicle’s title as collateral, you could have the cash you need the same day.1
Fortunately for qualified residents of Killeen Texas, there are title loans serviced by LoanMart1! So what is a title loan serviced by LoanMart and how may it benefit you?
What Are the Benefits of a Car Title Loan in Killeen?
Title loans serviced by LoanMart work by using your vehicle’s title as collateral, allowing you to borrow money against the equity in your car. The loan decision is primarily based on your vehicle’s value and your ability to repay the loan, so regardless of your financial situation or credit, you’re more likely to get approved for a title loan than a regular personal loan1.
Title loans in Killeen and many other Texas locations like Dallas, Houston and San Antonio can often times offer borrowers a less expensive alternative to payday or cash advance loans. Those services typically offer less money, often require borrowers to pay back the loan within just a few short weeks and can charge comparatively high interest rates and fees.
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How Do Title Loans Work in Killeen?
Title loans serviced by LoanMart work in much the same way as a regular personal loan. After you receive your funds, you make the agreed-upon monthly payments until your loan (including interest) is paid back in full. The big difference between personal loans and title loans is that the borrower is required to use the car title to secure the auto title loan. Once the loan is repaid in full, the lien is removed from the title and a clean copy of the title is then sent to the borrower.
How Does a Title Loan Serviced by LoanMart Differ?
There are, of course, many companies that offer title loan services to Texas residents. Most loan companies in Texas offer title loans through a Credit Service Organization (CSO) which can make the product more expensive. With title loans serviced by LoanMart, there's no need to worry about expensive CSO fees.
So the big difference comes as you make your payments. With payday loans and other title loan options in Texas, the interest rate and payments are likely to be high throughout the lifetime of the title loan. With title loans serviced by LoanMart on the other hand, you can expect competitive interest rates and monthly payments. In addition, you get more time to pay back your loan compared to many other options - and there are no prepayment penalties! So if you decide to pay off the loan early, you won’t have to pay any additional title loan fees5.
With title loans serviced by LoanMart, the loan application process for Killeen residents is quick and simple! You can get your car instantly pre-qualified, get a loan decision in just a few minutes and enjoy the convenience of being able to get a title loan 100% online!1.
If you're a Killeen resident, apply online or call us to see your options for title loans in Texas !
