Texas Car Title & Payday Loan Services Review
Texas Car Title & Payday Loan offers payday loans in San Antonio up to $1,200. It does not offer online loans, so you have to go into one of its payday loan store in San Antonio to pick up your loan. The application process with this service works differently than many other services. Before you go into the store, you complete the online application form and wait for a representative to call you back. After, you go to the physical location to complete the application and receive your funds.
While this process seems dated and less convenient than many other services' processes, the figures it offers are impressive when compared to other payday loans. The average APR for a payday loan in San Antonio is between 500% and 600%, but this service offers payday loans at 402%. While all payday loans have extremely high interest rates, 400% is relatively low. The yearly APR works out to $15 per $100 borrowed for a 14-day loan, which is lower than the $20 average.
Although the service offers loans up to $1,200, San Antonio laws limit payday loans to 20% of
your monthly income. This means to receive the full amount, you have to make more than $6,000 a month. The loan amount varies, but the service educates you on the exact amount you are eligible for when you go in to the store to complete the loan.
The term of your loan also varies. Most often, the term is between two and four weeks depending on your paycheck schedule. When the term is up, you then have to repay the loan. You are required to bring in a blank check when you pick up your funds to repay the total amount of the loan. If you need an extension or rollover, you can contact the service to see if you are eligible. San Antonio law limits rollovers to three, after which you must repay the remaining balance on the loan. Rollovers and extension may come with additional fees or penalties as well.
If you need any help or support, you can contact the company by telephone and online email form. The website has descriptions of the loan process and a FAQs page, so you can look there for answers first.Source: payday-loan-service-review.toptenreviews.com
Category: Payday loans