BlogBlogHow A Car Title Loan Can Save You From Financial Catastrophe

How A Car Title Loan Can Save You From Financial Catastrophe

Financial CatastropheVirtually everybody experiences some kind of financial stress at some point in his or her life. You may find yourself in a bind needing access to emergency cash for a variety of reasons. You may be laid off from a job or experience an unexpected medical emergency. Whatever the reasons, there are alternatives that can help you get through a tough financial situation. A car title loan is one of those options.

Car title loans differ from traditional loans from a bank or credit union. When attempting to obtain a conventional loan, financial institutions must dig deep to find out if you are a credible borrower. They need to make sure that you will have the resources to pay back your loan. A bank will take a good, long look at your credit history, your employment history, and more to determine whether or not to approve a loan.

Obtaining a car title loan is much different since the loan is secured by a vehicle and its title. If you own a vehicle outright and the title is clean, you can qualify for an auto title loan. Title loan companies, like Embassy Loans of Florida, do not need to spend the time examining a borrower’s past credit history. If a borrower does not pay back the loan, the company can just take possession of the borrower’s vehicle.

For example, if you have lost a job and are having problems paying your bills, a car title loan can be a big help until you find that next job. You can obtain a title loan very easily and quickly. At Embassy Loans, potential borrowers can fill out an application to start the process. The application can be filled out at one of the company’s offices or online. Completing the application takes just a few minutes.

When the application is finished, Embassy Loans will verify your identity as well as your residency. Once completed, your vehicle and the title will then be inspected. The car or truck is appraised for its value. Knowing the value of the vehicle, a title loan company can then complete the loan and issue a borrower the funds. The entire process normally takes an hour, much less than it takes to receive the funds from a conventional loan. The funds can then be used to pay the rent, a mortgage, bills, or a host of other expenses.



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.