Completely Online Title Loans With No Inspection
Did you know it’s now possible to get a title loan online in Florida with no inspection required? Sometimes, you don’t need to meet with a lender in person or conduct an in-depth vehicle inspection to qualify for a title loan. Now that most companies are completely online, you can finish the application and underwriting processes from home. A vehicle is often your most important asset outside of your house.
People have busy work schedules and may not have the money to travel the distance for a lengthy vehicle inspection. Maybe the distance is too far for them, or getting your car ready for a detailed checkup is just a hassle. Either way, this proves one point – driving somewhere for a car inspection isn’t as easy as it sounds. For people who want to save themselves the hassle of this procedure, read on to learn more about how it’s done.
What’s Required For A No Inspection Title Loan
First, you will have to fill out an application with a lender that offers title loans entirely online without a requirement for an inspection. Most large companies in Miami and Daytona will allow customers to send information and documents online. However, some will still require a vehicle inspection when you hand over the pink slip, and this is almost always the case when you’re looking to borrow $5,000 or more. To ensure security, some applicants will do this at public locations like the Miami-Dade DMV.
The documents you need for a no inspection title loan are your photo ID, proof of employment/income, insurance, and proof of address. You also need proof that you own the vehicle and this is always done with a paid off car title. The car’s title must be in your possession, and you must verify that no other lender or person can claim ownership of the vehicle.
Regarding visual proof of the vehicle without an inspection, some companies used to accept photos to verify the car, but now everything is done with your phone. You’ll need to take a 30 to 60-second video of your vehicle that shows the entire 360 views of the interior and exterior. Still, your lender can also ask for any closeup views to inspect something that could potentially lower the vehicle’s resale value. Once the video is completed, you’ll need to send it to your lender, and they may request a video call where they walk you through an inspection with any questions they may have.
Qualify For Online Title Loans Without Inspection
Get started now with our online title loan application! At Florida Title Loans we can get you underwritten and approved entirely online without an inspection or you start the pre-approval process over the phone at 888-986-8505. We don’t need much from you other than your car’s title, and proof of income and we’ll let you know in minutes whether you’re pre-approved and how much money you qualify for.
While an inspection is not always necessary for a title loan in Florida, some title loan lenders in Miami require a copy of the car key or install a device that tracks the vehicle. GPS tracking is not as common as it used to be as loan amounts are now generally smaller in Florida. However, your lender reserves the right to ask that you install a GPS device if you want to borrow more than $10,000 with a title loan.
While customers are not comfortable with a tracking device, it can help your lender feel more comfortable when deciding whether or not to approve your application. It mostly assures them that they can track down your vehicle if you miss payments and default on the loan. After your online application is approved, you can sign the contract electronically, thus handing over your car title after the lender is added as a lienholder.
The last step with a no inspection title loan is the best part: getting your money! Many companies will deposit the funds directly into your bank account with no hassle. If you need the money quicker you can pick up the funds in person at an authorized lending location or ask about a money order which is typically ready in an hour or less.
Loan Amounts and Rates For No Inspection Title Loans
No inspection car title loans are ideal for borrowers who don’t want to deal with the hassle of a vehicle inspection, but in some cases, they can lead to a reduced loan amount. This is because lenders often want to see the vehicle in person as it gives them more confidence that your vehicle exists and is not in poor condition or there’s something they don’t know about. No inspection title loans are ideal for people looking for a loan of $2,000 or less, as the lender is willing to take on more risk at a higher interest rate. These loans are also typically offered with boat title loans and other types of title pawns, where the loan amount is often less than expected on a vehicle.
Similar to the trade-off with lower loan amounts, you should expect a higher interest rate with a no-inspection title loan. These rates start at 35% monthly in Florida, and some lenders can be much higher than that.
No Inspection Online Title Loans With Poor Credit
Having poor credit can make a title loan more appealing for some people. Another reason to move forward is that companies that offer online title loans can speed up the funding time. It becomes easy to gain approval if the vehicle is owned free and clear. A lender can create a contract and loan agreement in less than 24 hours. Therefore, you can find the solution to any emergency on the same day!
Best of all, you no longer need to undergo a lengthy inspection when applying with Florida Title Loans. Borrow up to $15,000 with your vehicle’s equity and pay it back over six months to 3 years. Call us at 888-986-8505 or apply online to see how much money you can borrow!