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BlogBlogWhy Car Title Loans Are Becoming More Popular

Why Car Title Loans Are Becoming More Popular

PopularWhile not as well-known as other lending instruments, car title loans are gaining in popularity. Companies like Florida’s Embassy Loans are seeing more and more borrowers complete the process and receive cash to help them meet their financial obligations. Here’s why this type of loan has become so popular.

It Is Fast

From the time a potential borrower applies for a car title loan until the time he or she receives the funds is normally within an hour. Many are completed within the same day. There is not a lot of paperwork necessary, since there are no background checks or credit checks necessary. It is a very streamlined process that can be completed quickly. Borrowers must have a vehicle with a clear title.

Poor Credit Is Not A Problem

Since a vehicle title loan is secured by a car or truck, there is no need for lengthy credit checks or background checks. Traditional bank loans are unsecured. Banks must go through a lengthy process of assessing whether or not a potential borrower is good candidate for a loan based on his or her ability to repay the loan. That assessment process will include a credit history check. The recent financial troubles in our country have hurt many people’s credit, many to the point where a traditional bank loan is impossible. With a car title loan, a person’s credit history is a non-factor.

It Is Simple

The title loan process is very easy for both borrower and lender. At Embassy Loans, employees have years of experience in the process and have turned the company into Florida’s leading provider of such loans. Borrowers fill out their application and then provide documentation. That documentation will consist of the title to the vehicle, a form of photo identification, and something to verify residency.

Embassy Loans will verify a borrower’s identity and his or her residency. They will then inspect the vehicle to make sure that it matches the title. The vehicle will then be appraised for its value. The resulting value will determine the amount that can be borrowed. Once the value has been assessed, the loan process can be completed and borrowers can pick up their money.

Use For Emergencies

If you have a serious financial emergency, a car title loan may be your ticket out of a jam. With a car or truck with a clear title, you can borrow much needed cash very quickly. That cash can be used to meet your financial obligations and get you back on track.



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.