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Is A Vehicle Title Loan Worth It?

Car's ValueIf you happen to be in a position where you are considering a loan, be sure to look at all of your options. Loans from traditional financial institutions, banks and credit unions, are great if you have the necessary qualifications. What if you are unemployed or do not have a respectable credit history? In those cases, a vehicle title loan might be the best alternative. Some, though, may question whether a title loan is worth it or not.

First, anyone interested in this type of loan must understand what it is. It is a short-term loan option for people who have a vehicle with a clear title. It is a loan that is secured by the title of the vehicle and, therefore, requires much less paperwork than a conventional unsecured loan from a bank. A car title loan is the perfect alternative for someone in need of money quickly who does not have a stellar credit history.

For the purposes of accessing cash quickly and not having to worry about proving stable employment or a poor credit score, a car title loan is definitely worth it. Potential borrowers can go to a lender, such as Embassy Loans of Florida, and complete an application. Most applications are completed in a matter of minutes after which the loan can be processed.

Potential borrowers will have to prove their identity as well as their residence and must have a clear title to a vehicle that is fully paid (in some cases, a car that is almost paid off completely can be used). At Embassy Loans, once a person’s identity and residency have been verified the car will then be assessed.

The title, of course, must match the vehicle being used as collateral. The vehicle is then assessed for its value. Once the value of the vehicle is established, the loan amount can be finalized. The terms of the loan can be finalized as well and a borrower can access his or her cash. This process at Embassy Loans normally takes an hour and many loans are completed the same day the application is started.

Borrowers can take advantage of the quick process and the lack of extensive paperwork related to title loans. Before taking out a car title loan, borrowers should be sure to devise a plan for quick repayment. For those who properly take advantage, a car title loan is great way to access emergency cash and is definitely worth it.



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.