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Frequently Asked Questions

  1. What is a car title loan?

    It is a fast and easy way to get cash against your Clear Texas title.

  2. How is the loan amount determined?

    The loan amount is determined by the lender’s criteria based on income and the year, make, model, mileage and value of the vehicle. To get an estimate of how much you can get, call us with your vehicle information.

  3. When do I receive funds from my loan?

    Funds are available as soon as you are approved and the loan process is completed.

  4. How much time does it take to get approved?

    Once your application has been submitted, approval can be obtained within minutes. All you have to do is bring the required paperwork below, fill out the application and once approved, you will complete the loan process and receive your check right away. The whole process from submitting your application to approval and getting your check takes approximately 30 minutes.

  5. What paperwork is required?
    • Your ID
    • Social Security Card
    • Most recent paycheck stub less than 30 days old.
    • Any utility bill under your name less than 30 days old.
    • Auto insurance
    • Vehicle title
    • Spare key
    • 5 references (family, friends, or co-workers)
    • car (for inspection and appraisal)
  6. What if the car is in my name but my spouse is the one with the income?

    That is not a problem. We can put both of you on the loan as you own the vehicle, but you will be using your spouses income to payoff the loan.

  7. Can I apply online?

    Yes you can apply online. However once approved, you will need to come to one of our convenient locations with the required paperwork to complete the loan process.

  8. Will my employer or references be contacted?

    Yes. Since there is no credit check, employment and references are verified but the purpose of the call is not disclosed because we respect your privacy.

  9. Does it matter if I have bad or poor credit?

    No. There is no credit check, however information on the application is verified.

  10. What if I have filed bankruptcy or had repossessions?

    It does not matter because we are here to help people obtain credit who have had difficulty in obtaining credit in the past because of their credit history. However, your bankruptcy must be discharged of at least 6 months.

  11. What is the interest rate?

    Lender charges interest rate of 10% for the auto title loans.

  12. How are the payments set up?

    Payments are made on a monthly basis just like a car note. You are required to make at least the monthly installment due and any additional payments made in any increment is credited to your account.

  13. How are my monthly payments applied?

    THESE ARE INSTALLMENT LOANS. Portions of your monthly payment goes to principal and a portion of it goes to interest. If you make your monthly installment payments every month when due, your loan will be paid off at the end of the contract term. THESE LOANS ARE NOT INTEREST ONLY LOANS.

  14. How many months can I take to payoff the loan?

    Depending on the loan amount, you can take up to 24 months to pay off the loan.

  15. Is there any prepayment penalty?

    No, there is no prepayment penalty.

  16. Can I renew or refinance my loan to get additional cash?

    In some cases you may be eligible to renew or refinance to get additional cash. If you wish to get additional cash, please email us at advantagefinancellc(at)gmail.com, or call 281-410-5337 to see if you qualify. Your payment history along with other factors will determine the result of your request.