Benefits and Features

  • With a vehicle equity loan, you can get funded simply by using your car as collateral. Most applicants will qualify if they have a clean pink slip that’s clear of liens. Simply, submit your application online or in person. Once you information has been processed you will hear from underwriting with any pertinent questions. After this step you may see a final approval on your Florida title loan. At this point you will setup a time with your lender to meet with them in person. You have the option of going into a retail lending location or you can meet with a public notary at a place you choose. The title loan rep will need to verify your information and visually inspect the vehicle. After these steps are completed you can get your cash. Most title loans in Florida are paid out through Western Union or bank wire. Some will process funding through ACH, but that can take 1-2 business days.
  • The application process doesn’t need to be difficult. Unlike a bank loan or installment loan you don’t need good credit to be approved. Online title loans are similar to payday loans in that you can have bad credit and still get funding. The difference between cash advances and pink slip loans is the fact that you can get a much larger amount by using your car’s equity. Most payday advance companies in Florida will provide a few hundred dollars max. Some larger corporate companies will provide higher amounts in metro locations like Miami and Tampa Bay, but these aren’t entirely common. With a car title loan, you can be approved for a good percentage of your total car’s Kelly Blue Book Value. This means you can get quick cash amounts of $10,000 or more if there’s enough equity in your vehicle. Remember, this form of borrowing is expensive. Since good credit is not required, most lenders will charge high rates as a way to recoup their loses if a loan defaults and they can’t repossess a vehicle. It goes without saying that it pays to pay off a loan as quickly as possible.
  • In Florida, you can get approved for a title loan within one business day.  On top of that, most local lenders will let allow you to keep driving your vehicle.  It used to be that you had to hand over your vehicle when taking out a pink slip loan.  This was known as a title pawn and was not very successful for the lenders because most applicants need to use their vehicle to get to work.  These days you can retain access to your car and still see an approval in less than 24 hours.  While most lenders will process an application entirely online, they can also accept apps in person at local office.  The bulk of title loan companies operate throughout the greater Miami area.  Some are open 24 hours and you can get cash for the pink slip.

Short Term Funding- quick, simple and secure

One thing we touch on many times throughout this site is how streamlined and fast the process is when it comes to applying for online title loans in Florida. Some states make it difficult by requiring multiple inspections and loans of paperwork. By working with a Florida title loan company, you can expect an answer on your application and cash in hand in a few hours if approved. Most applicants that come to our site are not entirely familiar with how car title loans work. They know all about payday loans and have dealt with many of these companies over the past few years. Other have taken out bank loans or worked with an installment lender. While these types of financing are great, most will require pristine credit and have applications that take days and even weeks to get approved. The interest rates are low as well, but it comes with that drawback. On the flip side, a car title loan can be issued quickly and the paperwork is not as excessive with what you see from banks and credit unions. As always, you want to make the decision that best fits your personal needs. While Florida equity financing could be a good option, it’s definitely not for everyone. The interest rates and fees are high when compared to other choices for people with good credit. Also, there’s the possibility of losing your car if you fall behind on the loan. Florida laws will not allow a lender to sell the vehicle when your first default, but after a certain amount of time they can do anything. Don’t let yourself fall into this position. Only take out a title loan if it’s for something you really need. Contact your lender if you default on a payment. Most companies will work you and come up with a payment plan to get you back on track.