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What You Should Know About Your Car Title

What you should knowFor most people, buying a car is one of the largest financial transactions that they will make. Shortly after the purchase of a vehicle, the buyer receives the title to it. There are several important things that everyone should know about their car title. Here are a few.

Proof Of Ownership

Each state has a Department of Motor Vehicles that issues car titles. The title is a legal record of ownership. In this case, your title proves that you own the vehicle that is listed on it. Your title will include vital information about you as well as that for your vehicle.

History Of Vehicle

The title to a vehicle contains historical information about it. If the vehicle has been in an accident or has been owned by someone else, you can find that information on a car title. This is important information especially when you are considering purchasing a used vehicle.

VIN Number

Your title will include the vehicle’s VIN, vehicle identification number. That number must match the VIN that is on the vehicle. You can usually find VIN numbers located on a vehicle’s dashboard or the driver’s side door post. Stand outside of your car on the driver’s side and look at the dashboard. You should be able to see the VIN number. On the inside of the driver’s side door, you should see a sticker that also contains the VIN number. Each vehicle has its own unique VIN.

Buying And Selling Cars

Any transactions involving a vehicle must include a title. You should think twice about purchasing a car that does not have a proper title. If you are selling a car, you must have the title to transfer ownership to the new owner. If you lose a car title, you can always contact your state’s Department of Motor Vehicles and request a duplicate.

Title Loans

You can actually use your car title to get a loan. If you pay our vehicle off and do not have any liens on your title, you can use it as collateral to get a vehicle title loan. There are title loan companies, like Embassy Loans of Florida, who will provide you with funds, if needed, based on the value of your car or truck. The loan process is very quick and easy. You get to keep driving your car, but the title loan company can repossess it if you do not repay the loan. Most title loans are processed in an hour and offer people a way to access emergency cash.



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.