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Best Car Title Loans in Waco, TX

Aug. 26, 2019, 5:03 p.m.

If you need cash fast — and own your vehicle free and clear — a title loan is an option to consider. A title loan is a short-term, high-interest loan that is easy to qualify for and gives you quick money. But you should only enter an agreement if you fully understand the risks and laws in Texas. Our partners at ConsumerAffairs researched the best title loan companies in Waco so you are a fully informed borrower.

Everyone deserves to make thoughtful, informed purchase decisions. The local guides provided on this website are free for consumers. ABC 25 may receive compensation from our partners. Learn more.

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#1
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Speedy Cash

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Speedy Cash
Speedy Cash
Features
  • Loans up to $25,000
  • Any year, make or model
  • Receive cash on the spot
  • Available in Waco
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TitleMax
TitleMax
Features
  • Secured car/motorcycle title loans
  • Get quick approval online
  • Fast and simple process
  • Available in Waco
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Lachance Car Title Loans
Lachance Car Title Loans
Features
  • M-F: 6:30am - 10pm
  • Sat: 6:30am - 5pm
  • Closed Sun
  • wacocartitleloans.com
Location
2420 S. 12th St.
Waco, TX 76706
(254) 335-0600
LoanStar Title Loans
LoanStar Title Loans
Features
  • M-F: 10am - 7pm
  • Sat: 9am - 2pm
  • Closed Sun
  • loanstartitleloans.net/locations/texas/waco
Location
3705 W. Industrial Blvd.
Waco, TX 76711
(254) 340-6510
Advance America
Advance America
Features
  • M-W: 10am - 6pm
  • Th: 10am - 7pm
  • F: 9am - 7pm
  • Sat: 9am - 3pm
  • Closed Sun
  • advanceamerica.net
Location
807 N. Valley Mills Dr.
Waco, TX 76710
(254) 776-4289
Payment One
Payment One
Features
  • M-F: 9am - 6pm
  • Sat: 9am - 1pm
  • Closed Sun
  • payment1.com/title-loans
Location
1014 N. Valley Mills Dr., Ste. D
Waco, TX 76710
(254) 751-176
Star of Texas Financial Solutions
Star of Texas Financial Solutions
Features
  • M-F: 10am - 7pm
  • Sat: 10am - 2pm
  • Closed Sun
  • staroftexasfinancial.com/loans/title-loans
Location
810 N. Valley Mills Dr.
Waco, TX 76710
(254) 203-5242
Texas Car Title & Payday Loan Services
Texas Car Title & Payday Loan Services
Features
  • M: 10am - 7pm
  • T-Th: 10am - 6pm
  • F: 10am - 7pm
  • Sat: 9am - 4pm
  • Closed Sun
  • texascartitleandpaydayloanservicesinc.com
Location
639 N. Valley Mills Dr.
Waco, TX 76643
(254) 399-6963
Mulberry Title Cash
Mulberry Title Cash
Features
  • M-F: 6:30am - 10pm
  • Sat: 6:30am - 5pm
  • Closed Sun
  • titleloans-waco.com
Location
3812 Hiland Dr.
Waco, TX 76711
(254) 252-5100
Cash Store
Cash Store
Features
  • M-F: 10am - 6pm
  • Sat: 10am - 2pm
  • Closed Sun
  • cashstore.com/title-loans
Location
5301 Bosque Blvd., Ste. 110
Waco, TX 76710
(254) 776-7373

How to get a title loan in Waco

Waco skyline

In a title loan, the borrower hands over a clean vehicle title to a lender in exchange for funds, which can be used for any purpose. The borrower can continue driving the car during the loan term and gets the title back after paying back principal, interest and fees on time.

There were at least 3,500 auto title loans in Waco in 2018, according to the Texas Office of Consumer Credit Commissioner (OCCC), which regulates this type of borrowing in the state.

Title loans in Waco are popular for many reasons:

  • Fast application process: You provide simple information and your vehicle for appraisal.
  • Easy qualifying: You don’t need strong credit or a significant income.
  • Quick cash: Same-day funds are often available.
  • Repay in installments: Both single-payment and installment title loans are available in Texas.

Still, you should view title loans cautiously and think about alternatives first. The average interest rate on auto title loans in the state is 229 percent, and a majority of borrowers are unable to pay back the lender on time, the OCCC says. You can renew a title loan in Waco up to five times, but you expose yourself to a debt spiral. And the lender is allowed to repossess your car if you default.

What do you need to apply for a title loan in Waco?

If you decide to apply for a car title loan in Waco, be prepared to visit the lender in person. You need to be at least 18. Have these items ready:

  • Government-issued ID
  • Vehicle in driving condition with lien-free title in your name
  • Current registration
  • Proof of address
  • Proof of income
  • Working phone number

The title loan company in Waco will look at your vehicle to determine its value, which influences how much you can borrow.

It’s important that you read over a contract carefully before you sign for the loan. The lender must clearly show you how much you’re borrowing, the interest in dollars and APR, other fees, the term of the loan and the total cost of the loan.

Remember, only borrow what you can afford to repay. Otherwise, you risk losing one of your most valuable possessions.

Speedy Cash

Speedy Cash VISIT SPEEDY CASH

Waco vehicle owners can qualify for a title loan up to $25,000 from Speedy Cash. Bring your car and clear title to the location on Waco Drive, get a fast lending decision and receive funds in 30 minutes or less. Reviewers in Waco give Speedy Cash strong reviews based on professional and helpful customer service and positive overall experiences.

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TitleMax

TitleMax VISIT TITLEMAX

TitleMax is a leading U.S. title lending company with multiple locations in Waco. Get the process started online, then bring in your vehicle and have cash in hand in just 30 minutes. TitleMax accepts all makes and models, welcomes all credit types and offers convenient payment options. Many Waco reviewers give the company five stars and recommend it to others for title loans.

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Our partners independently research and analyze the companies mentioned in our guides and work with subject matter experts to add valuable information that helps consumers make smart purchase decisions. Our partners will not include companies on these guides that do not meet specific quality standards. The compensation we receive from our partners may impact how and where companies appear on our site, including the order in which they appear.

Our partners independently research companies, and use editorial discretion to award companies with special recognition (i.e. Best Value) based on their staff’s judgement or subject matter expert’s judgement. Our partners do this to help you identify companies that will meet your specific buying needs, and do not receive compensation for these designations.