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How To Get A Loan With Bad Credit

Bad Credit HurtsWhen your credit history is suspect, it can cause a lot of problems, especially when it comes to borrowing money for a car or a house. A poor credit history can also affect your chances of landing certain jobs and securing lines of credit. A bad credit score will have an impact on your financial future, whether you know it or not. Even so, it is still possible to borrow with a sketchy credit background.

Car title loans are not as common as a typical bank loan or payday loans, but they may be the perfect solution for someone who needs cash quickly and has a poor credit history. Unlike traditional loans from a bank or a credit union, the approval of a car title loan is not dependent on a lengthy background or credit check. In fact, securing a title loan is much easier, and quicker, than obtaining a conventional loan.

To obtain a car title loan, a borrower must have a vehicle with a clear title. There are some cases where a loan can still be processed if the borrower has the vehicle almost entirely paid off, but a clear title is necessary. To start the process, a borrower can fill out an application. At Embassy Loans of Florida, for example, borrowers can fill out the application online or they can visit one of their many locations around the state.

Once the application is complete, a borrower must present the title to the vehicle, a piece of photo identification, and proof of residency. Embassy Loans will verify that the title matches the vehicle and then will assess its value. This assessment will determine how much can be borrowed. Once this step is complete, all that is left is for the borrower to pick up his or her money.

Normally, this entire process at Embassy Loans can be completed within an hour and many title loans are processed and the money is received the same day. Because the vehicle is offered as collateral, there is no need to examine one’s credit history or employment history. Without all of the time and paperwork or a conventional loan, borrowers get access to the money need very quickly.

A title loan can be the answer for someone desperately in need of cash but has a poor credit history. A person’s credit rating is not even taken into account in the processing of a car title loan, allowing access to much needed funds.



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.