BlogBlogWhy Title Loans Are So Popular

Why Title Loans Are So Popular

Fast Cash LoansCar title loans are becoming more and more popular especially in today’s uncertain economic conditions. The loan, which is secured by a vehicle with a clear title, has gained in popularity for a few reasons. Here is a look at a few.

Easy processing
A car title loan is processed usually within a matter of hours. A borrower fills out an application and it is reviewed by the lender. The lender will also require a form of identification and a proof of residency. Also, the lender will need the title of the vehicle. The title will be matched to the vehicle and the vehicle will be assessed for value. Once completed, the terms of the loan are drawn up and all that is left is for the borrower to pick up his or her cash. At companies like Florida’s Embassy Loans, this entire process is completed within an hour.

Emergency situations
When an emergency strikes – a medical emergency or a plumbing problem in one’s home – many people do not have the funds to pay for it. A car title loan can provide a quick source of cash to help someone meet an emergency financial need.

Credit troubles
When a loan is necessary, many people cannot qualify for a conventional loan from a bank or credit union due to a poor credit history. A car title loan is secured with the vehicle as collateral; therefore, there is no need for a credit check. A person’s credit history is immaterial, which makes title loans very popular.

Quick source of cash
The typical title loan is processed very quickly. Since there is no need for a credit review or a background check, there is not a lot of paperwork involved with a title loan. Bank loans require a lot more paperwork and, as a result, more time in processing. A vehicle title loan can be completed in a couple of hours and borrowers can have the cash they need very quickly.

The economy
The current economy has made title loans more popular. With high unemployment, there are many families that need that extra cash in between jobs. Whether it is for a rent or house payment or some type of emergency, a car title loan can help to bridge that gap between jobs.

Vehicle title loans are easy to obtain, quick to process, and can help borrowers out of difficult financial jams. Because of today’s crazy economy, title loans will become an even more popular method of helping out those with money problems.



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.