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Car Title Loans On the Upswing?

You may not have realized, but car title loans are surging in popularity across the nation. Some states have seen a jump in the number of car title loans surge as high as 178% from 2011-2014. More and more, individuals are seeing these as an excellent method for securing the additional money that they need for certain unexpected situations, for handling expenses like education, weddings, or travel, and just for that bit of extra cash that they may need every once and a while. But why? Is there something about these loans that make them ideal for people in certain situations? Could it be that title loans have some qualities other loans don’t that make them particularly useful? Embassy Loans has lots of experience in this field and has some insight that might make it clear as to why title loans are on the upswing in many areas.

First off, the process is very easy, which means that people can get them without having to jump through a lot of hoops. This reason is one of the things that trips people up trying to get other kinds of loans but is absent in the title loan process. How does it work? First, one would fill out the application. This process can be done on paper, with someone over the phone, or it can be done online for superior convenience. It’s not overly intrusive, just a few details so that the loan company can know who you are and get some information about your vehicle.

Once the application is complete, there are a few documents that you’ll need to provide to get that loan. The title of the vehicle in question, driver’s license, perhaps a bill or two. This additional information will let the company determine what type of loan they can grant you. Next, you’ll have to have your car inspected. Many inspection stations can handle this task, and they can determine what shape your car is in for the purposes of your loan. Alternatively, in certain cases, this can all be handled online, no inspection station required. It will depend on your individual circumstance, but you can refer to a representative to find out more. Lastly, you receive your money once the loan is approved. It is that simple. Not so hard now to see why so many view title loans as such a great option. The convenience and ease of use speaks for itself!



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.