(833) 839-2274  157 N State Road 7, Plantation, FL 33317

BlogBlogThe Importance Of Car Title Loans

The Importance Of Car Title Loans

ImportantThrough the years, most individuals and families have been able to access needed funds by going to their financial institution and taking out a loan. Home loans, car loans, student loans, and others used to be easily accessible for most people up until the credit crunch that occurred in 2008. The ensuing financial crisis led lenders to tighten up their requirements and not lend as much.

As a result, people have started looking for alternatives when they need extra money. One of those alternatives is the car title loan. Car title loans have become an important source of funding for many individuals and families in need.

Because of stricter lending guidelines at banks and other financial institutions, car title loans have become very important. They offer those who may not have the income and credit history to take out a conventional loan the opportunity to access money for a variety of things. Car title loans are also processed very quickly. Here is how they work.

A person who owns a vehicle that is paid for can use it as collateral to take out a loan. The title to the car or truck must be free of any liens. If so, the individual can visit a title loan company like Florida’s Embassy Loans. The company has helped thousands of customers get their hands on extra cash to pay for emergency expenses, rent, utilities, and much more.

The process is very easy. Customers fill out an application to start. They will then produce documents to verify their identity and residency as well as prove that the title matches the vehicle. Once everything is verified, the vehicle will be assessed for its value and then the final loan agreement can be drawn up.

Most car title loans completed by Embassy Loans are finished in an hour. Many are done the same day that the application is filled out. Most conventional loans can take up to six or even eight weeks until the money is paid out.

Since a vehicle is being used as collateral there is no need for the lengthy credit checks that are associated with conventional loans. This is one of the big reasons why car title loans are important. They provide an avenue for those with poor credit to borrow money. Speed is the other key factor. For those that need extra money and need it fast, a car title loan can provide it.



Embassy Loans is a leading provider of auto title loans since 2005

Get In Touch

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.

© 2024 · Embassy Loans · Site built by DMA

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.