GET APPROVED FOR
A TITLE LOAN IN EL PASO

Pre-Approval For Car Title Loans In El Paso, TX

Premier Title Loans offers quick pre-approval with online title loans in El Paso. Qualified applicants can borrow between $1,000 and $20,000, and you can satisfy most of the underwriting requirements with proof of income and a lien-free car. Vehicle title loans allow quick underwriting and pre-approval with little emphasis on your credit history, although your income and employment status are still reviewed. Your car’s equity gets you in the door, and we’re here to help people who need fast cash.

It’s important to note that title loans within city limits are governed by Title 5, Chapter 5.17 of the City Code. This ordinance sets a “maximum” loan amount based on income or vehicle value to limit borrowing. Loan amounts in El Paso are capped at the lesser of 3% of your gross annual income or 70% of the vehicle’s resale value. 

Loan amounts between $1,000 and $20,000 may be available with a title loan, though El Paso’s city ordinances cap your loan, meaning the amount you can actually borrow may be lower depending on your income.

Requirements For Car Title Loans In El Paso

We’ll need a few documents before we can pre-approve your application:

Your car title – This is an essential requirement because it secures the loan and proves you own the vehicle outright.

A photo ID – We must verify your identity with a government-issued ID.

Income Documentation – El Paso city laws require that your lender verify your ability to repay the loan. You must provide a bank statement, W-2, or pay stub. Any of these documents is used to ensure your loan amount for a title loan stays under the city’s 3% gross annual income limit.

Once you submit the documents for underwriting, a licensed lender in Texas will finalize the title loan terms and amount. Next, if you can’t do a video inspection, your underwriter will schedule an in-person vehicle inspection at a lending location in El Paso. After all that’s completed and, if approved, you can expect to receive your loan proceeds as soon as one business day.

Is A Vehicle Inspection Always Required For El Paso Title Loans

No, a vehicle inspection isn’t always required when looking for a loan in Texas. Some state-licensed lenders may be able to verify your vehicle’s condition through a video, but this typically results in a smaller loan amount, and the terms will be much more favorable if you commit to a quick in-person inspection. Title loan inspections can be completed quickly at a handful of locations in El Paso, and sometimes you can sign your contract and receive your cash in-person on the same day you meet with your lender.

Repayment Structure And What If I Miss Payments On My Car Title Loan?

The City of El Paso has enacted repayment regulations to ensure your title loan is paid off quickly. According to the City’s Unified Ordinances:

Installment payment plans are limited to 4 maximum payments.

Single-payment loans can only be renewed 3 times.

These loans have a mandatory “pay-down” in El Paso. With each payment or loan renewal, you must reduce your principal balance by at least 25%.

Contact your lender to discuss a repayment plan if you are unable to repay your loan. Any lender should understand that things come up and that sometimes people need extra time to make payments. The lender can repossess your car if you cannot negotiate a new payoff term, and you should always contact them if you feel you won’t be able to make an upcoming payment. A repossession is often a last resort; lenders don’t want to deal with the hassle of selling a vehicle at auction, and most will work with you to develop a new payment term and monthly payment.

El Paso Car Title Loans With Bad Credit

Even with bad credit, you can still qualify for a car title loan in El Paso with Premier Title Loans. A perfect credit history is not the most important factor when underwriting your application. Instead, your lender will primarily use your car’s value to determine the funding amount.

Active bankruptcy or a recent vehicle repossession may disqualify you from getting a title loan in El Paso. If you’ve recently completed a bankruptcy discharge, contact us at 800-250-6279 to discuss your options.

Loan Amounts For Online Title Loans In El Paso, Texas, & What Are The Rates

Secured loan amounts depend on the car’s resale value in TX and the number of months you need to repay the loan. We typically see funding ranging from $1,000 to $20,000 in El Paso. That means cars or trucks manufactured in 2015 or later, classic vehicles, and those with considerable resale value will be eligible for higher loan amounts.

Title loans are secured by your vehicle, which often means you’ll get a larger loan amount than if you had applied for an unsecured loan. Interest rates are high with these loans, as there’s not much of a credit check, and you should always review the APR and payoff terms with your lender before moving forward on a loan.

Apply With Premier Title Loans

Apply online or call us at 800-250-6279 to learn more about how title loans work and what the specific requirements are in El Paso. There’s no obligation to get a quote and see how much you can borrow. Some customers can get their cash in as soon as one business day if you have the necessary documents ready. Premier Title Loans can take your information online or over the phone, and we’ll get you a lending estimate based primarily on the resale value of your vehicle.

Other Cities In Texas

• Amarillo
• Austin
• Dallas
• Fort Worth
• Houston
• Laredo
• San Antonio