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Which Loan Is Right For You?

Types of LoansThere are all sorts of loans available today from the simplest of promissory notes between family and friends to the more complex forms of lending like mortgages, car loans, and more. Some loans, such as small business loans, are available only to certain groups of people. Banks and credit unions will lend money for cars, homes, and education in the form of student loans. Other less common types of loans are payday loans and car title loans.

 

Mortgages
A mortgage loan is offered by traditional lending institutions like banks and credit unions to help people pay for homes that they cannot pay for upfront. In order to obtain a mortgage loan, people must go through a lengthy process to make sure they are a worthy borrower. The lender will examine a borrower’s credit history, employment history, assets, and more to determine whether or not to extend a loan. If a borrower fails to pay the mortgage, he or she risks foreclosure.

 

Car Loans

 

People can obtain loans from banks, credit unions, and even car dealerships to pay for automobiles that they cannot pay for upfront. These loans are usually smaller than a mortgage and feature interest rates higher than most mortgages. Borrowers who do not make their payments can face repossession of the vehicle.

 

Student Loans

 

Student loans are offered by traditional lenders as well as through various government programs. The federally-funded loan programs typically offer lower interest rates than those from a private lender. Students do not begin paying back the loans until after they have completed school.

 

Car Title Loans

 

Mortgages, car loans, and student loans are more conventional type loans that are familiar to many people. A car title loan is a little different. People in need of quick cash can do so by visiting a title loan company like Florida’s Embassy Loans. They fill out an application and Embassy Loans checks their identity, residency, and the title to their vehicle. Applicants must have a vehicle with a clear title. Since the car or truck is used as collateral, there is no need for credit or employment checks. These types of loans are processed in an hour and are a great way for those with less than stellar credit histories to obtain quick cash.

 

Small Business Loans

 

Small business loans are one type that is only available to a certain group of people. Business owners looking to start or expand a business can acquire a loan from the U.S. Small Business Administration. The SBA evaluates each application and has a variety of loan types that depend upon the needs of the individual businesses.



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.