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

BlogBlogChoose Your Car Title Loan Company Wisely

Choose Your Car Title Loan Company Wisely

Not-all-the-sameAs the popularity of car title loans continues to rise, there is a lot of competition in the market. With the demand rising, new car title loan companies are entering the market every day. Which one do you choose to do business with? You need to do your homework and do some research prior to making a decision. Here are some things you can do to ensure you make a sound decision.

 

  1. Watch out for predatory lending practices. Remember, the lender is doing business for a reason – to make money. Often, lenders will use very aggressive sales tactics to coerce a person into a loan that is really not in their best interest. If you get that kind of vibe from a title company, start looking for another.

 

  1. Shop around for the best interest rate. Like any loan, the price of borrowing is expressed as the interest rate. Different lenders will charge different interest rates. Shop around. Also, be wary of those lenders who express their interest rate in monthly terms. You may have this loan for more than a year. Make sure to take into account the annual rate as well.

 

  1. Do some research online. Make a concerted effort to hit the web hard and do some research on a variety of title loan companies. For example, a company like Embassy Loans in Florida is actually one of the state’s leading consumer finance companies. It has helped thousands of satisfied customers obtain a car title loan.

 

  1. Read testimonials and reviews. One thing you can do while researching companies is to read the reviews and testimonials of various companies. Title loan companies, like another business, are going to have some great reviews. It is rare that a company never has a negative review. Be aware as you do the research.

 

  1. Understand the terms of repayment. Before signing your loan agreement, make sure you understand the terms of paying back the loan. If there is a penalty for paying it off early, you might want to find another lender. You want to repay the loan as quickly as possible. Any company that will not let you do so may have some ulterior motives. Make sure you know the interest rate you are paying and have a plan to pay back the loan.

 

When looking for a car title loan company, look for a reputable lender that has a history of treating its customers right. Lenders should not conceal important facts about interest rates or loan terms. If they do, move on and find one you can trust. There are plenty of title loan companies in the marketplace.



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.