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The Right Type Of Secured Loan To Meet Your Needs

Alternative-LoansIn today’s credit market, individuals are finding it harder and harder to borrow money. Even with historically low interest rates, lenders are only willing to lend to those with the best credit histories and scores. What can you do when financial institutions continue to turn you down? Finding a secured loan is the best answer.

 

What Is A Secured Loan?

 

A secured loan is one in which the borrower offers something as collateral. In essence, the borrower is offering the collateral as a measure of good faith in exchange for obtaining a loan. A mortgage or a car title loan is a form of a secured loan.

 

Finding The Best Secured Loan

 

If you are a homeowner, you may be able to use your home to borrow money. You will have to have some equity to work with and have a fairly good credit history. If you have ever defaulted on a loan or have a poor credit history, you might find a home equity loan tough to obtain.

 

A car title loan may be a better option for those who have sketchy credit histories. To qualify, you must own a vehicle and possess its ownership documents (the title). Preferably, the vehicle is no older than 10 years and in good running condition. Regardless of your credit history, you can obtain a car title loan if you meet these requirements.

 

Car Title Loans At Embassy Loans

 

Embassy Loans, one of Florida’s leading consumer finance companies, has helped thousands of customers obtain auto title loans. The process is simple and fast. An interested borrower must first fill out an application. The application can be completed in person in one of the company’s many offices or, for convenience, applications can be filled out online. Either way, completing the application takes just a few minutes.

 

When the application is done, Embassy Loans will ask for a variety of documentation including a form of identification, proof of residency, and the title to the vehicle. Once verified, the vehicle will need to be inspected and assessed for its value. Most title loan companies use the common used vehicle blue book guides to determine how much a car or truck is worth. With a value established, the loan can be finalized.

 

Borrowers can receive access to their cash very quickly. Embassy Loans can process a car title loan in as little as an hour. There are no credit checks so those who have poor credit need not worry. Car title loans are a great form of secured loan and can provide you with much needed cash very 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.