A loan with the title to a car is a loan for a small amount of money for a short time. To get car title loans in San Antonio Texas you must give the title of your vehicle to the lender – for example, the title of your car, truck or motorcycle. In addition, you will pay a fee to the lender. Generally, you must repay the San Antonio Title loan within 30 days or more as you sign the contract.
San Antonio Loans with title to a car can be very expensive, but if you cannot repay the money you owe, the lender can stay with your vehicle. So far, for San Antonio Title Loans you may be facing this condition we are discussing here…
Are there other ways to borrow money?
You could borrow money from:
- Family or friends.
- A bank or credit union.
- Your credit card.
- You could ask for more time to pay their bills or talk with a credit counselor for help.
How title loans work
You can get a San Antonio loan with the title to a car on the internet or in a store. Here are the steps to get a loan:
Step 1: Show the following to the lender:
- Your loan application.
- Your car.
- The title of your car.
- Your ID card with a photo.
- Some providers also require to give them copies of the keys or car insurance.
Step 2: If the lender approves your loan, they give you the money and keep the title to your car.
Step 3: When the time comes to repay the San Antonio loan – usually 30 days – you pay the lender the amount of money borrowed – plus a monthly fee.
What if I cannot repay the lender on the date?
Maybe you cannot pay the lender on the date set. The lender may allow you to continue with the loan for another 30 days. This is called “refinance” loan or “extending the term” loan. To extend the term of the San Antonio loan, you’ll pay another monthly fee.
If you extend the term of your loan several times, you will pay a lot of interests. Over time, maybe I cannot repeal the loan to the lender.
What if I can never repay the loan?
If you cannot pay the money to the lender you owe the lender can keep your car. This is called repossession. The lender can sell your car and keep the money.
If the lender gets your car, you could lose your only means of transportation. You may find it harder to reach work, school and other places you need to go.
A San Antonio loan with the title to a car is a loan for a small amount of money for a short time – usually 30 days. It can be a very expensive loan, if you can not pay it to the lender, you could lose your car. Read more about Texas title loans on Longhorn Lending or read about San Antonio on its official website.