2201 W Avenue N San Angelo, TX 76904 325-944-0522
3128 N 1st St Abilene, TX 79603 352-232-7827


What is a title loan?

A title loan is a quick and convenient way for people who own their car without any liens (i.e., a lien-free title) to get cash using the car as collateral. It allows consumers to use an asset they own (their car) to solve short-term cash flow problems. Without title lending, many consumers would be forced to sell their vehicle in a time of need, probably at a discount.

What is a lien-free title?

A lien-free title means that you own your car outright, with no outstanding loans or judgments against it.

How does it work?

  • Step 1: A customer who needs funds brings by his/her running, registered, insured, and inspected car, with a lien-free title, to SAMCO Finance to use the value of the car as collateral for a loan.
  • Step 2: The customer fills out a SAMCO Finance application and his/her car is appraised by a SAMCO Finance Loan Officer.
  • Step 3: Using the appraised value of the car, and based upon the customer’s need, a transaction amount is determined, and the payment arrangements are set.
  • Step 4: After providing proof of income, proof of residence, driver’s license, and social security card documentation, the customer leaves the SAMCO Finance Store with a check and retains the use of his/her vehicle.
  • Step 5: The customer pays off his/her account. SAMCO Finance releases the lien on the vehicle and returns the vehicle’s title to the customer.

What if I have bad credit?

Don’t worry! SAMCO Finance is here for people with less than average credit. However, we do report to the Credit Bureau, so this is a great opportunity for you to enhance your credit.

Does the car title have to be in my name?

Yes. The car title must have you listed as the legal owner of the vehicle that you intend to use as collateral for the transaction.

How do I know if I will be approved?

The best way to know if you will be approved for a loan is to bring the items required to complete a title transaction listed above to a SAMCO Finance location and complete a customer application. SAMCO will evaluate your vehicle and application and let you know in about 15 minutes whether you are approved and how much cash is available to you.

How much can I get for a car title loan?

Amounts range from $100 up to $16,750. The amount available is based upon the vehicle appraisal and your ability to repay.

How long does it take to complete a deal?

If you have all of the items required to complete a transaction with you when you come into a SAMCO location, the whole process will take about 30 minutes.

How do I get my title back?

Your title will be returned to you immediately after paying back the full amount due on your account.

Why acquire funds from a title lender?

A title transaction enables you to acquire funds based on the value of your car but without actually losing its use. The process is based on collateral, not credit.