First Charter Finance

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How to Apply

When you’re experiencing a financial hardship, time may be of the essence, which means you won’t have the time to wait around and get a traditional loan from a bank, credit union or another lender. That’s where title loans Laredo can help. These loans carry quite a few benefits over other loans, including:

  • Speed – When you apply for a title loan, you usually get it the same day that you apply.
  • High Approval Rates – There are no minimum income or credit score requirements for a title loan, and you just need to own a car to get one.
  • Convenience – All you need to bring with you to get your title loan is one form of government-issued ID, your car and the title to it.
  • Flexibility – Certain types of loans can only be used for specific purchases, but you can use a title loan for whatever you want, including hospital bills, home repairs, business expansion costs or anything else you need at the time.

Even though the title loan application process was already a breeze, here at First Charter Finance, we knew we could make it better for the benefit of our customers. Here’s what we did – we set up an online application for title loans Laredo, and it’s available here on this site. It only requires a few pieces of information that you probably know from memory, which means it takes less than a minute. Here’s what you’ll need to enter to fill out the form:

  • Details about the car you own that you’ll use as the loan collateral
  • Your contact info

For the car details, we need to know the year, make, model, the body style and approximately how many miles it has. When it comes to your contact information, we’ll need to get your full name, your cell phone number and your email address. When we have all this information, we can preapprove your application for a title loan, come up with an estimate for your loan based on what your car is worth and have one of our reps contact you right away.

As we mentioned, you don’t need to bring many items in to get your title loan. Unlike most loans, there’s no need to gather up your paystubs, your tax returns or your old financial documents. All that matters is your car’s current market value and that you meet the title loan age minimum of 18 years old.

About Us

Driving through Texas may be a fun way to spend a Saturday, but it’s probably not what you want to do when you need to get a title loan as quickly as possible. That’s why it can be frustrating to look up title loans Laredo and see a bunch of listings for title loan companies that aren’t anywhere near the city.

You won’t need to worry about leaving the beautiful city of Laredo when you go with First Charter Finance, because we have our office in the city for your convenience. You can get here with ease whether you’d rather take the highway or cut through surface streets to avoid traffic at rush hour. You’ll also be happy to know that there are plenty of great parking options nearby, which means you won’t need to walk far.

Once you get here, the title loan process is very fast and simple. You should certainly mention if you already filled out our online title loan application to receive a loan preapproval. Here’s how the entire process will go here at our office:

  • A First Charter Finance representative will guide you through signing the necessary paperwork.
  • We’ll look your car up in a vehicle value guide and inspect it to assess its condition. Then, we can figure out its current market value and how much we’re able to lend you.
  • You’ll give us your car title, which we keep safe during your loan’s repayment period, and we’ll issue you the loan.

You will most likely be done with all that within an hour.

How It Works

Here’s what you need to know about title loans Laredo:

  • They are secured loans where a car you own is the collateral.
  • They are short-term loans.
  • They are governed by both federal and state laws.

The primary federal law that deals with title loans is that age minimum we mentioned before of 18. Other than that, states get to set up their own title loan regulations, and how these loans work can vary considerably depending on the state that you’re in.

In Texas, you don’t need to worry about a maximum title loan amount, because the state hasn’t set one. It will all depend on what your car is worth. The state has set a 10-percent cap on title loan interest rates, although it’s important to note that a title loan can have fees besides just interest.

Texas hasn’t set any minimum term length on title loans, but it has set a maximum, which is 180 days. The most common term length for a title loan in Texas and quite a few other states is 30 days.

You may be wondering what will happen if you can’t pay your title loan when the payment is due. This is when you have the convenient option of extending your loan by paying its interest and fees. When you do this, you take the unpaid loan principal into a new term that’s just as long as the old one and carries additional interest and fee charges.

Since Texas has its 180-day term limit on title loans, you can only extend your title loan up to that length before you need to pay it all off. Even though extending a title loan ends up costing you a little more money, it’s far better than defaulting on a title loan, which gives the lender the right to repossess your car.