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Benefits Of Doing A Title Loan

Title Loan BenefitsWhen the bills are piling up each and every month, it is often difficult to find the necessary funds to meet all of your financial obligations. When you need cash fast, one of the easiest ways to obtain it is through an auto title loan. Embassy Loans, a licensed consumer finance company, has been providing car title loans for almost a decade. There are other sources of emergency funds, but a title loan may be the key to your making ends meet.

 

If you are wondering how title loans work, the process is rather simple. As with any loan, an application is required. Borrowers looking to obtain this type of loan will, of course, need a vehicle with a clear title. They will offer the car or truck as collateral and lenders, such as Embassy, provide the borrower with their money. Title loans are usually processed within a day or two.

 

Speed, of course, is the big advantage to doing an auto title loan. The process can be complete and you can receive your cash within 48 hours. Compared to some other sources of emergency funds, that is pretty quick. When time is of the essence, borrowers cannot be waiting around for days or weeks to take care of their finances.

 

Another advantage of a title loan is that all that is really necessary is a car. As long as a potential borrower has a vehicle with a clean title, he or she can most likely receive a title loan. Other unsecured loans, which do not offer any collateral, are often harder to obtain.

 

If a borrower has serious credit issues, that is not a problem. While most financial institutions will not lend to someone with poor credit, if a person has a vehicle he or she can most likely qualify for a title loan. Again, the car or truck is offered as collateral making a credit score a non-factor. Since credit is not a factor, there is no credit check. There is also no background check as there is with other types of loans.

 

Those using a title loan also get the benefit of keeping the car even while the loan is not paid off. The lender will hold the title, and a set of keys, but a borrower can take care of his or her financial troubles and continue to drive their vehicle. As a result of these benefits, auto title loans are becoming more popular among those looking for emergency cash.



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.