Get Title Loans Online With Instant Approval
Use A Car Or Truck As Equity For A Loan!
It only takes about 5 minutes to submit a car title loan application. Be sure to include relevant details about your vehicle and employment history.
Use A Car Or Truck As Equity For A Loan!
You can borrow cash using your vehicle’s equity with an online title loan. It’s not difficult to find a lender, but you also need to know what to look for in terms of a quality company. Of course, you can always go online and find a legitimate company that offers online title loans. But many prospective borrowers feel more comfortable meeting with a lender at a local office. In an ideal situation, an applicant will have researched their financial options and decided that an auto title loan is the best option. Beyond that, they need to feel comfortable with their lender and loan terms. Unfortunately, this isn’t always the case with people who apply for car title loans in Florida.
Unlike the majority of personal loans and bank loans, there are minimal paperwork requirements for online title loans, and most people can pre-qualify in less than an hour. The important documents needed are a lien-free vehicle title and proof of current employment or bank records showing you make enough money each month to handle the monthly payments. You will also need a current driver’s license or Florida ID. In addition, some companies will ask for a copy of the vehicle’s registration and an updated insurance policy that shows you have enough coverage on your car in case it’s in an accident or stolen.
Bad credit will probably not be an issue when you apply for a secured loan. Most title loan companies will be more concerned with your car’s current worth and how much collateral it provides. It’s imperative to protect yourself from unscrupulous lenders and research any company you’re looking to work with. Work with a direct lender that discloses the principal amount borrowed and what the interest rate will be. Find the exact payment terms for your specific loan agreement and title loan amount. Do you pay the loan in full in 12 months or 30 days? Does your title loan company have a prepayment penalty if you decide to pay off the loan amount in full? Do they allow you to drive your car for the life of the loan, assuming you stay current on monthly payments? All those details matter, and it’s essential to know every specific detail when you take out a car title loan.
Yes, any legitimate title loan company should allow you to drive your car without restrictions after taking out a title loan. 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 will sign over the title to your lender, and that’s the collateral that guarantees the loan amount. Stay current on your payments because a licensed lender can repossess your car if you fall behind and miss payments. Since you signed over the car title to them, they have a right to your vehicle and that’s why you should reach out if there’s ever a concern of missing or falling behind on payments.
The APR and lending terms guaranteed approval title loans in Florida will vary and are often based on your vehicle’s value and lending profile. Payoff terms typically run from 12-24 months, and there’s no penalty for paying off your loan early. Our goal here is to provide visitors with as much info as possible about title loan companies and the funding process from start to finish. Our site caters to Floridians interested in learning more about their lending options. We also discuss payday advances, bad credit bank loans, and other instant cash lending options. In addition, we have lending resources to help you to navigate the auto title loan processing status from start to finish.
Please reach out to us if you have any questions or need help with the process of applying for title loans. Florida’s statutes and financing regulations for vehicle equity loans are bound to change each year, so check back for new updates.