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BlogBlogThe U.S. Has a Borrowing Problem

The U.S. Has a Borrowing Problem

There are numerous types of loans including mortgages, car loans, student loans, and more. The American public has a variety of opportunities to borrow money, or does it? While the economy has been turning around over the past few years, the ability to borrow money has dried up for many Americans. The mortgage loans for subprime borrowers are all but gone. Obtaining a car loan is also a lot harder than it used to be. Trying to get a personal loan in an emergency situation is often not even worth the hassle. The U.S. has a borrowing problem – many Americans are finding that they cannot get their hands on cash in an emergency situation.

 

The Car Title Loan

One type of loan has increased in popularity – the car title loan. For those who own a vehicle, a loan is possible. Car title loans are short-term secured loans that are backed by a vehicle’s title. You offer your car or truck as collateral and receive a loan in return. Embassy Loans is a leading consumer finance company that has helped tens of thousands of customers access money when it is most needed.

The process works best when a vehicle is completely paid off. However, if you have an existing loan on the car, it is still possible to borrow. Car title loans terms are more favorable when your vehicle is owned free and clear of existing finance, and also more favorable for newer vehicles.

How to Obtain a Car Title Loan

The process of obtaining a car title loan is quite simple. Embassy Loans requires that potential borrowers fill out an application first. This application can be made in person or online. In fact, the entire process can be done online if more convenient. After filling out the application, you will be required to submit proof of your identity, residency, and that the vehicle is yours. Embassy Loans will then appraise your car or truck and draw up a loan agreement. Once signed, you can then get access to your money. In many cases, the entire loan process can take only an hour. There are no credit checks since your vehicle’s title secures the loan. This important fact speeds up the process significantly.

If you are finding it difficult to borrow money the conventional way, consider a car title loan. You can borrow several thousand dollars very quickly even if you have a poor credit history. Car title loans are helping Americans obtain cash for those financial emergencies.



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.