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Using A Car Title Loan Responsibly

ResponsibilityTaking out an auto title loan can be the difference between meeting your financial obligations one month or finding yourself on the brink of disaster. Car title loans differ from conventional bank loans in that the requirements are different and the process  goes much faster. There are no lengthy credit or background checks and the amount of paperwork is minimal. As a result, the title loan process can be completed within a day or two. It is important, though, for title loan borrowers to use this type of loan wisely.

 

Prior to entering into a title loan, potential borrowers should consider all of their options. There may be other means of helping you through a difficult financial period. You may be able to borrow from relatives or even get an advance on your paycheck from your employer. Once those options have been considered and a car title loan is the best choice, you can then begin the process.

 

A title loan borrower must understand the terms of his or her loan. Before finalizing and signing the loan agreement, make sure you have a complete understanding of the loan terms. You should know your payment amount, the interest rate, and the length of the loan. This will help you to avoid defaulting on the loan.

 

Once you have used the title loan to help with your debt problems, it is important to begin making your payments regularly and on time. This will help to avoid any late payment penalties. To help pay the loan off quicker, pay more than the required amount. The extra amount that is paid will go toward the principal amount of the loan and help you pay the debt off faster. The faster you pay the loan off, the less interest that you will pay in the end.

 

When searching for title loan lenders, look for companies like Embassy Loans, one of the Florida’s leading providers of auto equity loans. They are a licensed and reputable consumer finance company that has been providing title loans since 2005. The company has helped thousands of customers who have found themselves in need of emergency cash. Finding a lender that you can trust is important when taking out a vehicle title loan.

 

An auto title loan can serve to get you out of a financial jam. Since a vehicle is being used as collateral, there are no credit checks and the process is fast. Many loans are completed and borrowers have their money within 24 hours. Before you take out a title loan, take the time to make sure you understand what you are getting into.



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.