Rates & Fees
Transparency is important to us. Below you'll find detailed information about our rates and fee structure.
In Texas, title loans are often facilitated through Credit Access Businesses (CABs). This means your loan will involve both an interest rate and a CAB fee. While the interest rate is often capped by state law at 10%, the CAB fees can significantly increase the total APR. It is vital to review your loan agreement carefully to understand the total cost of credit. In Amarillo, most title loans are short-term, but many lenders offer installment-style title loans that allow for longer repayment periods. Late fees and NSF fees may apply if payments are missed.
Annual Percentage Rate (APR)
199% - 450% (Varies by lender and CAB fees)
Representative Example
| Loan Amount | Term | APR | Finance Charge | Total Repayment |
|---|---|---|---|---|
| $1,000 | 30 Days | 310% | $254.79 | $1,254.79 |
| $2,500 | 6 Months | 285% | $1,850.30 | $4,350.30 |
| $5,000 | 12 Months | 225% | $7,120.45 | $12,120.45 |
Representative Example: A loan of $1,000 for 30 days at an APR of 310% would have a total repayment amount of $1,254.79. This includes the principal and all applicable fees. Actual rates and terms vary based on the lender you are matched with, your vehicle value, and your ability to repay.
State-Specific Information — Texas
Maximum Loan Amount: No statutory limit; usually up to $15,000 based on vehicle value
Rate Cap: Interest capped at 10% (plus significant CAB fees)
Regulations: Texas Finance Code Chapter 393; CAB Fee Disclosures Required
Licensing: Licensed by the Texas Office of Consumer Credit Commissioner (OCCC)