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How To Find A Loan If You Are Unemployed

UnemployedPeople who do not have a job cannot get a loan, right? Actually, if they have a vehicle with a clear title, there is some hope. Those who have lost a job for whatever reason may collect unemployment compensation, but those benefits are only a fraction of what they used to bring home. It gets very tough to pay the bills. A loan may help an unemployed person get back on track or fight off a foreclosure or an eviction. Most people probably did not realize that there are, in fact, loans for those who are unemployed – car title loans.

 

If someone owns a vehicle with a clear title, they have the ability to obtain a car title loan. The car or truck is used as collateral in exchange for the money. Title loan companies such as Embassy Loans of Florida can process a vehicle title loan very quickly.

 

To begin the process, a person needs to fill out an application. This can be done online or in person at one of the many locations that Embassy Loans has in Florida. When the application is finished, the team of professionals at the company can begin to process the loan. Applicants must bring in a form of photo identification and something that proves their residency. They will also present the title to the vehicle.

 

The vehicle will then need to be inspected. Embassy Loans has over 30 different inspection stations around the state of Florida. Applicants must take their vehicle to one of them where the car or truck will be matched to the title. After Embassy Loans makes sure that the title matches the vehicle, the value of the automobile must be determined. With a value established, the terms of the loan can be completed.

 

The terms of the loan will be drawn up including the loan amount, payment amount, and loan length. Once the loan is finalized, the borrower can pick up the much-needed cash. Car title loans are easy to obtain and are the perfect solution for borrowers who need smaller amounts of cash. They are also great for those borrowers who do not have a job or have a bad credit history. Because the loan is secured by collateral, the vehicle, there is no need for the background and credit checks involved with the more formal loans from a traditional financial institution like a bank or credit union.



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.