Fort Lauderdale Title Loans
Title loans are an effective way to borrow $1,000 or more in Fort Lauderdale. Let's say you recently applied for an installment loan but were immediately denied due to poor credit. What can you do now other than ask your friends and family for a loan? With a title loan, you don't need perfect credit to get approved, and most lenders can get you pre-qualified and funded in one business day.
Repayment terms with secured loans in Florida are flexible, and loan amounts are based on your vehicle's equity, subject to Florida lending regulations. These loans can provide you with the money you need today, and many companies will also let you pay back your loan over months or even years. Qualified customers in Florida can apply online with us or by calling 888-986-8505. You can also apply with a neighborhood lender in Fort Lauderdale and get your cash in as little as one business day.
Qualify For A Title Loan In Fort Lauderdale
Lenders will primarily look at what collateral you have in the form of your vehicle, and they will look past your bad credit report or credit history. To show proof of vehicle ownership, you need a paid off car. Some motorcycles and semi-trucks can also be used as collateral, provided they are worth $3,000 or more. Your car's title must be in your possession and lien-free.
Other requirements in Fort Lauderdale may include an active insurance policy, current employment verification, and documentation showing that you have sufficient monthly income to make future payments. You must also provide a government-issued ID and a certificate of title for the vehicle you plan to use as collateral. Anyone in Broward County can get ID and title documents from the FLHSMV location on Federal Highway in Ft Lauderdale.
The good thing is that you won't need to give your lender physical possession of the car. Instead, your lender is added as a lienholder on your vehicle's title as security, and you can keep driving the vehicle. You'll eventually get the car's title back after you've fully repaid the loan.
Are Title Loans In Fort Lauderdale Possible With Bad Credit?
Borrowers with no credit or poor credit can still qualify for a title loan in Fort Lauderdale. That's because equity lenders accept customers with low credit scores, and you'll be able to get the money that you need quickly without a lengthy credit check. Applicants with good credit may be able to borrow more cash, since these loans are secured, which means default rates are much lower than those for other payday loans. Loan amounts for bad credit title loans depend on the equity value of your vehicle and range from $1,000 to $20,000 in Florida.
Apply Online Or With A Local Lender In Ft Lauderdale
Whichever option you choose, be sure you're dealing with a company offering flexible lending criteria and fair terms. Florida has numerous licensed lenders, and you can't go wrong if you want to meet someone in person in Broward County, FL. Many local companies throughout Broward County are open seven days a week and ready to offer cash for your vehicle. Are you looking to apply late at night or on a holiday? At Florida Title Loans, we accept applications online at any time. Even if you apply at midnight, you can submit your application and expect a pre-approval response during business hours. All we need to know to get you an estimate is your vehicle's make, model, and year.
Licensed lenders in Florida are prohibited by state law from charging pre-payment penalties, so you can always pay off your loan early and save on interest charges. That way, you can get a repayment term of 12 to 48 months, with the option to pay off the loan in full at any time you have the cash.
Interest Rates To Expect And How To Apply
Interest rates on title loans are high, and there's no getting around that. Borrowers should review their contract carefully, as licensed lenders can charge fees in addition to interest, subject to the limits set by Florida lending regulations. Most licensed lenders in Florida will work with applicants even if they have poor credit, and you can expect an APR that's capped at 30% for the first $2,000 borrowed,
If you have bad credit and are okay with high interest rates, it may make sense to see how much cash you can get with a Fort Lauderdale lender. Apply online and get a pre-approval indication in less than an hour. You can also contact Florida Title Loans at 888-986-8505 if you prefer to start an application over the phone.