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BlogBlogThinking about a Payday Loan? Think Again

Thinking about a Payday Loan? Think Again

A payday loan can often be a lifesaver in a time of financial need. This type of loan is a good choice for someone who needs a few hundred dollars very quickly and will be able to pay it all back within a few weeks. If managed correctly, a payday loan can help you through a difficult period. The problem that most people face with payday loans is that they cannot pay off their loan quickly and are forced to pay exorbitant amounts of interest.

Payday loans are easy to obtain, as long as you have a job. You basically offer your next paycheck as collateral for a loan today, and you can arrange a payday loan often within 15 to 30 minutes. Payday lenders will try and hook you on a monthly payment plan. These plans may sound great but, in the end, you will end up paying more interest than if you pay off the loan as fast as possible.

If you own a vehicle, you may have access to a much better alternative. Car title loans are short-term, secured loans that allow individuals to borrow more at lower interest rates. Embassy Loans is a leading consumer finance company that has helped tens of thousands of customers obtain access to the cash they need.

Those who own a vehicle that is paid off or nearly paid off can use the equity to pay their mortgage, pay for a medical emergency, or pay for a home repair. The title loan process is very simple. First, an application must be filled out, and this can be done easily either in person or online. Applicants will have to submit some documentation to prove that they are who they say they are. Borrowers must also have the title to the vehicle, and the vehicle identification numbers (VIN) must match.

Once verification of the documents is complete, Embassy Loans will use current blue book values to assess the vehicle for its value. Borrowers can usually borrow up to 50 percent of the vehicle’s value, meaning that in many cases individuals can borrow several thousand dollars. Once the terms of the loan are drawn up, the loan agreement is signed, and a borrower gets access to the money. Embassy Loans often completes car title loans in as little as an hour.

Car title loans at Embassy Loans offer low rates and the ability to customize loan terms. A car title loan is an excellent alternative to the payday loan.



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.