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BlogBlogHow to Use a Car Title Loan The Right Way

How to Use a Car Title Loan The Right Way

You may have heard of car title loans before and written them off as a non-option because you assumed that it was too difficult for you to comprehend or that the way it worked would not be beneficial to you. In actuality, title loans can provide enormous benefit when used the right way and if you observe a few simple common sense rules in getting one. Not sure what we’re talking about? It’s not uncommon for the process to seem somewhat confusing. Embassy Loans, however, is here to break through the shroud of mystery and give you some information on how you can make the most of a title loan and use it to realize a few dreams you may have previously deferred.

 

Unlike bank and payday loans, you can actually use your vehicle to extract yourself from a difficult financial situation. Just be cognizant of a few things. The fees that are associated with the car title loan should be inspected. Less reputable organizations will charge exorbitant and often unnecessary fees in an attempt to extract money from a client. A reputable company will keep it on the up an up and let you know everything in advance (which will all be quite fair once you are done looking over the terms).

 

You should keep in mind that title loans are designed to a be a short term loan, and you’ll maximize the benefit that it gives you by paying back the loan as quickly as possible. A good company will offer you some grace time, for sure, but you should remember that the length of a title loan is not designed as a long term loan. It’s created so that you can quickly handle a particular bit of necessary business like taking care of auto repairs or paying for an unforeseen expense, and then repaying the loan money once the original purpose has been fulfilled. If you’re worried about not being able to get enough, you should relax. All the most trustworthy title loan providers have established themselves to the point where they can give you the maximum amount possible for your vehicle.

 

Just keep these important facts in mind, and you’ll be able to get and use that title loan quickly, and pay it back just as swiftly. It’s a great option for rapidly correcting a circumstance that you did not anticipate, and can help you out when you need assistance the most.



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.