BlogBlogA Loan That Does Not Require A Credit Check? Sign Me Up!

A Loan That Does Not Require A Credit Check? Sign Me Up!

credit checkFor many across the country, the thought of borrowing money is frightening. The recent economic downturn led to unemployment, foreclosures, and overall financial devastation. Many individuals watched as their credit histories fell apart. Credit history is a big factor in the approval of most loans. There are loans; however, where credit histories and scores are not a factor.

A car title loan is one such loan where a person’s credit history has no bearing on whether or not the loan is approved. Those interested in a vehicle title loan must own a car or truck that has a clear title. In most cases, the vehicle needs to be completely paid off. There are some title loan companies that will lend to those whose vehicle is almost paid for completely.

The process of obtaining an auto title loan is pretty simple. An interested party can find a title loan company, like Embassy Loans of Florida, and apply either in person or online. At Embassy Loans, applicants will present identification and the title to the vehicle. The lender will verify an applicant’s identity and will make sure that the title matches the vehicle.

Embassy Loans will assess the vehicle for its value in order to determine how much money can be borrowed. The company has 21 different locations where potential borrowers can take their vehicles in order to have them appraised. Once the car’s or truck’s value has been determined, the loan is finalized. The loan documents are drawn up and then signed by the borrower. All that is left is to pick up the money.

The entire process from start to finish is usually an hour. There are many cases where the entire process is completed within a few hours. These types of loans are processed so quickly because there is no need for those lengthy credit checks or background checks. The title loan companies do not need to do so because the loans are secured by vehicles. Should a borrower fail to repay his or her loan, the lender can take possession of the vehicle.

Car title loans are one type of loan that does not require a credit check. The proceeds of the loan can be used for anything. Many borrowers use the money to help pay rent or mortgage payments and other related bills. The loan can also be used to complete a home improvement project, finance a vacation, or even pay attorney fees.



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.