Tampa Car Title Loans – How They Work
For customers dealing with a financial emergency in Tampa, there may be a solution where you can get cash in 24 hours or less! You don’t need to deal with the hassles of a personal loan, and the underwriting process is straightforward if you have a car that’s titled in your name. Best of all you can borrow money that’s not based on your credit score. Instead, your loan amount is determined by the value of your vehicle, and you can qualify in less than an hour if you have all the documents ready to go.
Here at Florida Title Loans, we offer access to same day funding for anyone with a paid off vehicle. When you take out a title loan, you can borrow $2,000 or more by tapping into the equity from your vehicle. Most cars and trucks can qualify for a title loan in Tampa, and there’s a chance you won’t even have your credit checked!
A title loan is based on your vehicle’s equity, not your credit history, and most lenders in Florida will let you tap into 40 to 65% of your vehicle’s resale value. Some older model vehicles and motorcycles have lower equity funding amounts, but even in those cases, you should be able to borrow at least $500 with an online title loan in Tampa. Cars worth $6,000 or more can lead to a funding amount of around $3,500 and all you need is proof of income and a paid off car to qualify.
Get Approved For Online Title Loans In Tampa
You will find that most title loan lenders in Tampa offer fast online approval, and that’s no different with Florida Title Loans. We’ll start processing your application once we receive your vehicle information and let you know how much you can borrow within 30 minutes. Most customers can qualify for a loan amount of $1,000 to $20,000, and your specific lending terms depend on the vehicle’s resale value and your ability to repay the entire balance. Here’s what you need to get approved:
– A lien-free car title. The vehicle must be in your name and entirely paid off. No liens or cosigners are allowed on the pink slip.
– Proof of residency in Tampa. This can be with a driver’s license or other identifying document.
– Proof you can repay the loan. You’ll be good with your employer’s bank statement or payment receipts.
– Verification that your car is fully insured and registered with updated tags in Florida.
Florida Title Loans accept all types of cars, trucks, and motorcycles for these title loans in Tampa, and you may be surprised at how much you can borrow with just your equity acting as collateral. Most lenders will offer 35 – 65% of the vehicle’s collateral as a loan, meaning your funding amount can be well over $5,000 for a car with a high resale value.
The most important part of the underwriting process for a title loan in Florida involves a quick vehicle inspection. Just a few years ago, most of these inspections took hours, but now your vehicle can be inspected in less than 30 minutes. Some title loan lenders in Florida require inspections at their lending locations, but you can also request an inspection at your home or place of business.
During the inspection, your vehicle will be checked for any issues that could lead to a lower resale value. At this time, you can also sign over the car’s title to your lender, and they’ll probably take a picture of your VIN and odometer reading. While an in-person can be a big hassle, one benefit is that you can finish the underwriting process in less than an hour, and some companies in Tampla will sign off on your loan documents and get you cash in that same visit!
Car Title Loans In Tampa With Bad Credit
If you’re thinking about working with Florida Title Loans, the odds are that you have a poor credit score. Most of our customers in Tampa have had credit issues, and they would otherwise take out a personal loan if they could pass a credit check. Yes, these bad credit title loans have high interest rates (in some scenarios, the APR can approach 35% monthly). Still, they’re a valid option for anyone facing a cash crunch and can’t be approved for a typical unsecured loan.
Don’t let the high finance charges get in the way of a car title loan. Repay the loan quickly to avoid the high APR, and you may see an improved credit score. Some title loan providers in Tampa report monthly payments to the credit bureaus, and your FICO score can increase with steady on-time payments.
Do you already have a car title loan from another title loan company in Florida? Many title loans issued before 2023 have interest rates much higher than what we currently see, and we’re confident we can lower your interest rate if you take a minute and call us. With a title loan refinance, you can repay your loan in half the time, and some lenders will even pay off your existing lender and get you a new loan offer if you’re already behind on the payments or in default. Apply online or call Florida Title Loans at 888-986-8505 to save a bundle by your refinancing your title loan!
Cash in 24 Hours With A Tampa Title Loan
There’s a chance you can get approved and get your funds within 24 hours of first applying for an online title loan in Tampa. Yes, you still need to complete the paperwork, have your car inspected, and sign the contract, but that’s much easier when you know there’s enough equity in your vehicle to qualify.
At Florida Title Loans, we work with licensed lenders in Tampa who can complete all the documentation and vehicle inspection in just one visit. It’s that easy for anyone who has a paid off vehicle. So apply online or call 888-986-8505 to see what your car is worth and how much money you can grab with an online car title loan!