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When to Look into Car Title Loans

Debt is tough. There’s no arguing that. It’s never a good feeling to know that you’re behind on a payment or that money you were making plans for has to go towards paying off a loan. Sometimes you don’t even have enough money to do that. In these cases, you may feel like there’s no way out of your debt cycle, and you may start to lose hope. However, there are some things you can do to buy yourself some time in a financial pinch or an emergency situation, one of which is to take out a car title loan. Embassy Loans, one of the larger title loan companies in the US, will usually take any car made within the last 10-15 years that doesn’t have outstanding finance on it, and draw up a loan agreement with you after assessing the vehicle’s value.

Maybe the concept of borrowing more money to get out of debt seems strange to you. That’s completely understandable, and there are situations where taking out a title loan is unadvisable. You shouldn’t do it, for instance, if you’re just trying to scrape up some spare spending money. However, if you need a little extra money to pay off a larger debt, or if you know you’ll be able to pay the loan back and you just need the money for a time-sensitive emergency, then car title loans can be lifesavers. They’re easy to take out, and once your application has been approved you can usually get your money within just a couple of days.

If your finances aren’t in great shape; a title loan can also be a useful way to get yourself qualified for other, lower-interest loans in the future. You can use the money from a title loan to pay off another loan that’s been affecting your credit. Then your credit will increase, and you’ll give yourself other options for the future. It’s not that title loans are bad ideas. You just have to be careful about how you use them since the lender can technically take possession of your vehicle if you fail to repay a title loan. To avoid this, make sure you have a strategy for paying your title loan back in time before you take it out. Like so much else in life, it just comes down to proper planning and an understanding of what’s at stake.



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.