Your Source For Car Title Loans In Florida

What Is A Title Loan And How To Qualify

You can borrow cash using your vehicle's equity with an online title loan in Florida. Finding a lender near you is painless, but you must also know what to look for to choose the best. You can go online and work with a company like Florida Title Loans to find a licensed lender that fits what you're looking for. However, many prospective borrowers prefer to meet with a lender at a local office and submit the documents face-to-face. In an ideal situation, applicants will have researched their financial options and determined that an auto equity loan is the best choice for them, based on their desired loan amount and credit history. Beyond that, they need to feel comfortable with their lender and loan terms. Get started today and see what loan options are available to you in Florida. Apply online or call 888-986-8505 for a quick quote.

Requirements For A Title Loan In Florida

Unlike unsecured personal loans, which require exceptional credit, online title loans have minimal paperwork requirements, and most customers can pre-qualify in under an hour. The necessary documents are a lien-free vehicle title, proof of income, or bank statements. Minimum income requirements vary by lender, but most companies require proof of steady monthly income. You will also need a driver's license or Florida ID. Some companies may request a copy of the vehicle's registration and an updated insurance policy that demonstrates sufficient liability coverage for the vehicle. One last essential requirement for a title loan is getting the car inspected to confirm its current resale value.

Can I Get Online Title Loans In Florida With Bad Credit

Bad credit will not lead to a quick rejection when you apply for a secured loan. Title loan companies are more concerned with your car's resale value and the amount of collateral it provides. A credit check may still be required when you apply for a title loan in Florida, but your FICO score is not at the top of the list of what's needed to get your loan approved. Instead of having a perfect credit score, it's more important to have enough equity in your vehicle to cover the full amount you borrow. Verify your income and show proof of your vehicle and you'll have a much better chance of getting a title loan with less than perfect credit.

Once Approved For A Title Loan, Can I Keep Driving My Car

 Yes, any legitimate lender should allow you to drive your car without restrictions after taking out a title loan in Florida. Instead of using the actual vehicle as collateral for a loan, a secured lender will hold onto your car title while you make the monthly payments. You add the title loan company as a lienholder to your title, which serves as security for your loan amount. Stay current on your payments, if you fall behind your lender can legally repossess and sell your vehicle at auction.

How Quickly Can I Get My Cash

 Title loans are designed to provide quick funding, and most licensed lenders in Florida can have cash in your hands or send it to your bank account within one business day. With an online title loan, you can get your money even quicker, with some companies sending cash in as soon as one business day from when your loan is approved. The time it takes to underwrite your application mainly depends on how fast you can send in your required documents, and the agents at Florida Title Loans can get you pre-approved online at any time of the day!

Title Loan Rules & Rates In Florida

 The APR and lending terms for auto title loans in Florida vary and are often based on the value of your vehicle and the requested loan amount. Per Florida law, interest rates on title loans are capped at 30% per year for the first $2,000 you borrow, 24% per year on amounts between $2,000 and $3,000, and 18% per year on amounts over $3,000. Repayment terms range from 30 days to 48 months depending on the applicable state statute and your loan amount.