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BlogBlogWhen A Car Title Loan Is A Great Idea

When A Car Title Loan Is A Great Idea

IdeaCar title loans may not be as popular or as well-known as traditional loans from a bank, but they can save the day when you run into a financial emergency or need to access cash quickly. A car title loan is a secured loan in which a vehicle’s title is used as collateral. This differs from a personal loan or a mortgage loan, which are unsecured loans and are issued in good faith to those deemed to be credit-worthy.

There are many title loan companies offering these types of loans, including Florida’s own Embassy Loans. The company began providing title loans in 2005 and has grown into one of the state’s largest consumer finance companies. They have provided tens of thousands of customers with access to funds for emergencies and other purchases.

A car title loan is available to anyone who owns a car that is completely paid off. There can be no liens on the title either. If this is the case, you can qualify for a title loan. The process is started by filling out an application in one of Embassy Loans conveniently located offices or online. The application takes just a few minutes to complete.

Applicants will have to verify their identity as well as their residency and provide the title to their vehicle. Embassy Loans will confirm a person’s identity, residency, and make sure that the title matches the car or truck. Once this is complete, Embassy will then appraise the vehicle for its value.

Based on the vehicle’s value, the loan can be finalized. The documents are drawn up and signed. An applicant can then receive his or her money. This entire process normally takes just an hour, much less time than it takes to receive money from a conventional loan. Because a title loan is secured by a vehicle, there is no need for background and credit checks that are customary with other loans.

When a person suffers a sudden job loss and needs to pay the rent or mortgage, a car title loan can be obtained quickly to help get that person through until he or she finds their next job. Title loans can be used for a variety of situations such as paying for college expenses, paying for unexpected medical expenses, or even paying for a dream vacation. A car title loan is a great idea when someone needs to access cash quickly.



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.