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Pay Your Homeowner’s Insurance Deductible with a Car Title Loan

Home Owner Your insurance covers most of the damage that occurs in your home including damage caused by extreme weather conditions. The problem is that you chose to have a lower insurance premium by accepting a higher deductible. Now, the time has come for you to make a claim to have your home’s roof repaired. The insurance company will cover the cost of repairs, but first you must come up with the $1,000 deductible. If you have exhausted your options, consider a car title loan.

What Is a Car Title Loan?

If you own a car, you can use it to get the money needed to pay the deductible on your homeowner’s insurance claim. The vehicle is used as collateral in exchange for a loan. Lenders like Embassy Loans have helped thousands of customers access needed cash using their vehicles as security.

How the Process Works

In just a few short steps, you can acquire the money you need to pay your insurance deductible. You begin by completing an application. Once finished, you will be asked to submit a few pieces of documentation like your driver’s license, for example. You must also have the original title to your vehicle. Embassy Loans prefers that you own the vehicle outright but can still loan money if you have a balance remaining on an existing loan.

With administrative items complete, the vehicle must be assessed for value. Embassy Loans uses current blue book values to establish how much the car or truck is worth. You will be able to borrow up to 50 percent of the vehicle’s value. Once the loan agreement is signed, you will have access to your money via check or electronic deposit. The entire process can take as little as an hour.

Benefits of a Car Title Loan

Unlike more conventional loans from your bank or credit union, you do not undergo a credit check when applying for a car title loan. Since the loan is not based on your payment or credit history and your vehicle is being used as collateral, there is no need for a credit check. This is also one of the reasons why a car title loan does not take so long to complete. There is much less paperwork.

When you need money in a hurry, a car title loan may be your best option. They are quick and are great for those who own a vehicle but do not have the most excellent credit score or payment history.



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.