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BlogBlogCar Title Loans Provide Fast Relief for Cash Emergencies

Car Title Loans Provide Fast Relief for Cash Emergencies

Emergency CashWhether the culprit is a car or home repair, medical expenses or one of life’s other little unpleasant surprises, there are times when having access to fast cash is essential.

While short term cash loans come in many different shapes and sizes, a person in need of emergency cash has essentially three choices: a car title loan, a pay-day loan and a credit card advance.

An auto title loan, not unlike a home mortgage, is a secured loan. That is, to get the loan from the lender, the borrower uses his vehicle title as collateral. You pledge your car in exchange for the cash; if you fail to keep your promises, the lender has a way to get repaid.  Pay-day loans and credit card advances, on the other hand, are unsecured (no collateral) loans.

When a lender has a secured asset (in this case a vehicle title) he assumes less risk. As a result, the process of taking out a car title loan is fast and hassle-free. Title loans require no income or credit checks and only minimal paperwork. It is important to remember, however, that this is a secured loan; easier to get, but it is very important to stay current with the payments.

Pay-day loans are a different story. They are unsecured (no collateral) loans. If a borrower were to default on a pay-day loan, the lender would have less to fall back on. That means his risk is higher, and as a result, the borrower will pay a higher interest rate and have a shorter loan. Additionally, to mitigate his risk, a lender will take the time to verify income and employment before granting a pay-day loan.

Credit card advances come with a few strings attached. To be eligible for an advance on a credit card, a person must first pass the credit screen required to obtain a card. Even if a borrower is eligible for a credit card, he can expect to pay a fee equal to 2% to 4% of the amount of the advance. Finally, unless the borrower has a stellar credit rating, he will likely end up with a higher interest rate than he would with a title loan.

When a person needs cash fast, it’s important to not only find a loan quickly, but to pick one that is right for you. When a person finds himself in this situation, an auto title loan can provide much needed financial peace-of-mind. Title loans, on average, have lower interest rates, longer terms and are for higher amounts than either pay-day loans or credit card advances.

Embassy Loans, the leading provider of auto title loans in Florida, makes the process of getting a car title loan simple and fast. All that’s needed is a clear title to a vehicle and proof of residency. With customer service that is second to none, getting emergency cash through Embassy Loans is the easiest way to go.



Embassy Loans is a leading provider of auto title loans since 2005

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Embassy Loans Inc. is licensed under the “Florida Consumer Finance Act” and as such Embassy Loans is exempt from any licensing requirements under the “Florida Title Loan Act” to the extent that any of Embassy Loans’ activities involve the making of a loan of money to a consumer secured by bailment of a certificate of title to a motor vehicle.

Monthly Interest Rates range from 1.5% to 2.5% (18% to 30% APR), with 15-18 Month Terms.

No Prepayment Penalties!

Embassy Loans uses “Title Loans” for advertisement purposes only and provides auto equity loans. Embassy Loans Inc. is licensed under the “Florida Consumer Finance Act” under Florida Statute 516 and as such Embassy Loans is exempt from any licensing requirements under the “Florida Title Loan Act” to the extent that any of Embassy Loans’ activities involve the making of a loan of money to a consumer secured by bailment of a certificate of title to a motor vehicle.

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Frequently Asked Questions

What is an Auto Equity Loan?

An auto equity loan, sometimes known as a car title loan or a car equity loan, is a type of loan that allows you to borrow money by using your vehicle as collateral. The loan is secured by your vehicle, meaning you agree to use the equity in your car to back the loan. 

What is an Unsecured Personal Loan

An unsecured personal loan is a loan that does not require collateral. Funds are provided based on your credit worthiness and your ability to repay. 

What Is the Credit Builder Program

The credit builder program is designed to help individuals establish or improve their credit score with the primary purpose of building a positive credit history through regular payments.

Can i have more than one Loan at a time?

Embassy Loans can only extend one loan at a time and it’s advisable to start with one and focus on making payments in a timely manner to prevent default.

What happens if I miss a payment?

Missing a payment can have negative consequences, including late fees, a drop in your credit score, and potential default on the loan. Consistent, on-time payments are crucial to benefit from the program.