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Collateral Loans as Financial Solutions

Colateral LoansIt is far from rare for a person’s financial situation to become so overwhelming that it seems all they have left is their possessions.  But possessions can actually become great assets for getting back on the right financial track.  Collateral loans are dependent on those assets, unlike unsecured loans which affect credit scores and have lengthy approval processes.

 

How Does A Collateral Loan Work?

 

Collateral loans work when a lender requires some assurance that they will be paid back for their loan.  A person can pledge one or more of their assets which is then used as collateral.  If the loan is not paid back, the lender takes the asset and sells it in order to receive back their money.  By contrast, a loan that is not secured can result in bad credit or even legal action from a lender.

 

What Types of Collateral Loans Are There?

 

All types of items can be used as collateral including automobiles, real estate, cash accounts, investments, insurance policies, and even valuables and collectibles.  It is important to consider the situation carefully before pledging an item as collateral.  If cash is needed fast, but financial improvements are on the horizon, this is the perfect type of loan to take out for short-term financial relief.

 

What Is The Smartest Kind of Collateral Loan?

 

Car title loans are the most popular type of short-term collateral loans.  They have many benefits including the speed with which the cash can be received and the fact that bad credit does not matter.  At Embassy Loans, a friendly representative can guide a person through the entire process in only a day or two!

 

So How Do Car Title Loans Work?

 

Getting a car title loan online couldn’t be easier with Embassy Loans.  Simply fill out the online application, provide documentation for the vehicle, and attend an inspection for the car.  Then, feel the stress of a financial emergency melt away as soon you pocket the cash you need.

 

What Is The Best Approach To A Collateral Loan?

 

A collateral loan is usually for those people who need money fast.  They have medical bills, mortgage payments, or other living expenses that they simply cannot afford immediately.  Before deciding on a collateral loan, it is important to budget and plan accordingly in order to pay it back on time and not lose the asset.  At Embassy Loans, paying the loan back early is not penalized, so if the money presents itself sooner than expected, the loan can be paid off immediately and the financial crisis can be left behind.



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.