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Checking Your Car Title History

On-TimeThere are a number of things that the average car owner does not know about his own vehicle. One item that most people know little about is their vehicle’s title. Before buying a used vehicle, it is imperative that the buyer check the history of the vehicle’s title. Otherwise, you may be buying a future of headaches. Some individuals go to great lengths to cover up the history of a vehicle that they are trying to unload. Here’s how you can check a car title history.

 

Understanding a Car Title

 

A vehicle title is an official document that proves ownership. A title is issued by a state’s Department of Motor Vehicles or Department of Transportation. Each state’s title will differ somewhat but, for the most part, titles provide significant information about a vehicle to the owner. The title certificate itself will contain the vehicle identification number (VIN), a number that is unique to each individual vehicle. Every time you check a title, you should check to make sure that the VIN matches that which is on the title. Vehicle identification numbers are located on the driver’s side under the windshield on newer cars, as well as on a sticker that is on the driver’s side door jam. Older vehicles may have the VIN printed on a strip located in the engine compartment.

 

Check the Mileage

 

When you buy a used car, one of the most frequently asked questions is, “How many miles are on it?” You can find out by consulting the title document and comparing it to the odometer. All titles have information about the mileage reading at the last point of sale. You can check that against the odometer to see if the mileage indicator has been tampered.

 

Be Aware of Special Designations

 

There are spaces on all titles for special designations including junk, salvage, homemade, and others. These designations will vary by state, but an individual buying a vehicle should be aware of them on a title. A title with an “S” label for example should raise a red flag. The car or truck has been in an accident or was damaged enough that it was labeled salvage. Some owners may attempt to hide this information. You can always request a copy of the current title from a state’s Department of Motor Vehicles.

 

Using Your Car Title for a Loan

 

You can actually use your car title for a loan. If your vehicle is paid off and you have no other liens on the title, you can visit a company like Embassy Loans of Florida and borrow against the value of the car or truck. It is a quick and easy process that can access cash for you in an emergency situation.

 

 

 

 



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.