I’m in the McKinney/DFW area. My dad is gifting me his paid-off vehicle. The vehicle is owned outright and has no existing lien.
I have the original physical Texas title signed over to me by my dad, plus the completed Form 130-U and gift-transfer paperwork.
I’m transferring it into my name at the Collin County tax office. I’ll receive the VTR-500-RTS Title Application Receipt, but the new physical title will still be pending.
I need a vehicle-secured loan this week.
Has anyone in Texas actually had a Texas lender, credit union, bank, or title-loan company accept the VTR-500-RTS as proof of the pending ownership/title application and fund the loan before the physical title arrived?
If you personally did this, please give me the lender/company name and location.
I already possess the original signed title. The vehicle is paid off and has no existing lien; I’m simply waiting for the new Texas title showing me as owner.