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 licensed title loan lender in Florida is straightforward. Look for lenders that are licensed under the Florida Title Loan Act, clearly disclose their rates and fees, and do not charge a pre-payment penalty. 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 their documents in person. 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. Most title loan companies in Florida require proof of steady monthly income, and some set a minimum threshold. 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. Depending on the lender and the loan amount, a vehicle inspection may be required to confirm the car's current resale value. Inspections are often required for larger loan amounts and can often be completed at a local lending office or scheduled at your home or work.

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 deposited into your bank account within one business day. With an online title loan, select lenders may be able to fund your loan the same day your application is approved, depending on how quickly your documents are submitted and verified. At Florida Title Loans, you can get pre-approved 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.