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How to Avoid Repo on Your Car Title Loan

You’ve heard about how useful car title loans can be, but there’s always the looming spectre of repossession to consider. Getting money fast sounds great, but the last thing you want is for your car to be taken away by the loan company because you couldn’t pay it back in time. That being the case, we’ve put together a few handy facts for you to keep in mind when it comes to taking out a car title loan. If you don’t forget these, you should be well prepared to take out your next title loan and repay it in time to get your vehicle title back safely.

First things first: always read the fine print in your contract. This information will tell you about interest rates and repayment options, both of which are utterly critical pieces of information to have before you go through with something like this. You don’t want to find out that you owe more than you thought you did because of high-interest rates, or that you’re required to pay it all back at once in a lump sum instead of installments. Both of those scenarios are possible, and they can seriously complicate your ability to pay the loan back in time, which might mean the loss of your auto. So just make sure you’re reading absolutely every piece of paper they hand you when you go to take a title loan out.

Choose your loan company carefully, too. You want to go with somebody trustworthy, even if there are other companies out there who claim to offer you better deals or put the money in your hands faster. If those companies are small and you haven’t heard of them, the prudent thing to do is to avoid them, unless you’re willing to do some serious research. Otherwise, it’s best to trust an established loan company. A car title loan allows you to get the money quickly no matter what (a big company like Embassy Loans only takes a few days for approval of your loan), so you can afford to take a little time at the outset to make sure you’re making the right choice.

Finally, make sure you know how you’ll pay the loan back before you take it out. Don’t trust fate. Don’t rely on luck. Be sure to know where the money is going to come from so that you aren’t blindsided. Follow all this advice, and your next title loan should be a painless experience that helps you to get the money you need quickly.



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.