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BlogBlogA Car Title Loan Can Help Pay For Your New Pool

A Car Title Loan Can Help Pay For Your New Pool

HomeIt is always nice to have your own pool in the backyard. Yes, it is a lot of work, but you and your family will love the convenience of having your own as well as playing host to numerous pool parties. The biggest problem with putting in a swimming pool is paying for it. A car title loan is a quick and easy way to obtain the money you need to put in the pool of your dreams.

 

How Do I Qualify For A Car Title Loan?

 

You must have a vehicle, of course, and the car or truck must be in good working condition. In most cases, title loan companies would prefer that the vehicle is completely paid off; however, there are instances where a borrower may still have a balance remaining and still be approved for a title loan. Typically, the vehicle needs to be 15 years old or less and the title should have no other liens. If you meet these criteria, you can likely take out a car title loan.

 

How Do I Obtain A Car Title Loan?

 

The first step is to fill out an application. Most title loan companies, like Embassy Loans for example, allow potential borrowers to fill out an application online. The typical auto title loan application will take less than five minutes to fill out. When completed, applicants must submit a few pieces of documentation in order for the lender to process the loan. Applicants will need items such as a driver’s license, possibly a utility bill, and the title to the vehicle.

 

Once an applicant’s documentation has been verified, the title loan company will appraise the applicant’s vehicle. Most lenders will derive the value of a car, truck, or SUV from one of the common blue books on the market. The vehicle must be in running condition, of course, and typically needs to be fewer than 15 years old. In most cases, the owner of the vehicle must not have any liens on the title. There are some instances where a borrower may have a loan balance and still obtain a car title loan.

 

What About My Credit History?

 

Since a car title loan is secured by a vehicle as collateral, a borrower’s credit history is not all that important. In many cases, lenders will not even run a credit report. If your vehicle meets the conditions and there is enough equity available, you can qualify even if your credit history is suspect.

 

Once the loan is approved, borrowers can receive their money. Often, this occurs within an hour. When the money is received, you can use it to pay for your brand new pool.

 

 



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.