![]() The website uses 128-bit SSL encryption for your security. LoanStar, a licensed title loan lender, has been in operation since 1990. It is registered with the Texas Office of Consumer Credit Commissioner. Before signing your loan agreement, make sure you carefully review the breakdown of finance fees. ![]() No matter what loan term you choose, you will have to pay a $28 or $33 lien fee, depending on where you live. This fee is included in your APR. Installment loans can be repaid for up to 150 days. You have two options for loan terms: Lump-sum repayments or installment repayments. Lump-sum loans must be paid back within 30 days. You can borrow anywhere from $100 to $10,000. The average APR is between 315% and 382%. LoanStar offers many examples of possible loan costs based on the amount you borrow and the term of your loan. You can pawn your car, truck, motorcycle, and any other vehicle if you need a quick loan of a larger sum, but deciding whether to pawn it for the lower interest rate, or get a title loan to continue using the vehicle, depends entirely on what is best for you.LoanStar Title Loans Review | Rates, fees, and terms for LoanStar If you simply cannot go without a vehicle but need cash fast, a title loan is a good option, but you have to ensure that you know what the interest rates would amount to. The interest rates provided my Loan Star will be significantly lower than any title loan company, but it does mean that you forgo the ability to use your vehicle until you pay back your loan. ![]() If you are able to go without a vehicle for a period of time, auto pawns are often the better option when it comes to pawning your car for an instant loan. ![]() The interest rates are higher because there is a lot more administrative labour needed to repossess the car if the loan is not repaid. The disadvantage of title loans is that, although you get to continue driving your vehicle, the interest rates tend to be much higher than an auto pawn. Some title loan companies will install GPS tracking devices into your car, so as to mitigate risk. When you sign over the title, you are saying in the contract that if you do not pay back the loan and interest within a certain period of time, the title holder becomes the legal owner and can repossess the car in any way they see fit. Title loans have you sign over the title to your vehicle, rather than handing over the keys like an auto pawn. The average title loan needs to be paid back in full within 30 days however, title loans are a little more flexible in the contract, so some title loans can be for up to a year. Title loans allow you to continue driving your vehicle while you still have the loan, and you can often extend them to longer terms. Title loans, on the other hand, offer a few more choices than an auto pawn. One drawback is auto pawns tend to be short term loans, so if you need a long-term loan, an auto pawn may not be your best option. Auto pawns allow for better interest rates as the pawn shop physically possesses your vehicle until you return to purchase it back, so there is less risk on the pawn shop’s end. If you don’t need to continue to drive your vehicle, such as it’s an extra car or you predominantly use public transportation, the classic auto pawn may be your best choice.Īuto pawns have the pawn shop store and look after your vehicle while they possess it, and at Loan Star, the vehicle storage is locked, secured, and patrolled to keep everything safe. The first is like any other pawn, you drive up, hand over the keys to your car and get the money you need. There are two ways to pawn your vehicle: a classic auto pawn or a title loan. Auto-pawn shops are a particular kind of pawn shop that only work in pawning vehicles, or, you can find a jack-of-all-trades pawn shop, like Loan Star, that will also give you an auto pawn loan on any kind of vehicle. There are two kinds of pawn shops that you can choose to pawn your vehicle to. The other question to ask, though, is should you pawn your car?įor many of us, our vehicles are the most valuable thing we own besides the roofs over our heads, so if you are in need of a large sum of cash, pawning a car may be the most obvious choice. You can pawn your car, truck, or any other automobile for that matter, and when you pawn your vehicle, you can get an instant cash loan. Can you pawn your car for an instant loan?
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