Dallas Title Loans
Living in Dallas can be exciting and fun. However, sometimes it can be hard to pay off all of the expenses and costs of living. When you need a temporary boost of money, title loans in Dallas, Tx can be a great way to get a temporary boost when you need the cash now. Still, many people are hesitant about title loans in Dallas. Title loans have a bad reputation, although in reality they really can save people who are in an emergency.
The first misconception about title loans in Dallas, Tx are that they will take your car away. However, title loan lenders will only take your car away if you are egregiously late on your payments. As long as you make your payments on time, and communicate with your lender if you can’t, then you will keep your car.
The difference between payday loans and Dallas title loans
People also often do not know the difference between the two!
Payday loans are an unsecured type of loan, meaning that there is no collateral put against the loan. Because of this, payday loans often charge ridiculously high-interest rates in order to make up for the high amount of default that results from this type of loan. In contrast, title loans Dallas Tx use your car as collateral against the loan.
This means that the rate of default on the loans is much lower, and so title loans in Dallas Tx almost always have much lower interest rates than payday loans. Along with this, they also tend to be for larger amounts than payday loans.
Title loans in Dallas Tx can also be great because they can help your credit.
While there is no credit check necessary to get a title loan in Dallas Tx, if you pay off your loan on time and in an agreed-upon way, then you could end up helping your credit. This means that if you have bad credit, title loans are a great way to improve it, since you can get them with no credit and they can even help your credit in the end.
So if you have no or bad credit and you need money immediately for an emergency, plus you live in Dallas, Tx, then title loans may be for you. Simply fill out our free online form here at texastitleloan.net and you could see your cash within 48 hours!