BlogBlogThe Dos and Don’ts of Getting a Car Title Loan

The Dos and Don’ts of Getting a Car Title Loan

When you need money quickly, you can feel as though your whole life has become unbearable. The threat of debt seems to turn even the most regular activities into constant sources of worry, and every dollar you spend can look like a mistake. There’s no reason to panic, though, even if you’re in rough financial shape. If you own a vehicle, there’s a good chance that you may qualify for a car title loan, which can get you the money you need fast.

Car title loans let you put up your vehicle as collateral in exchange for a loan, the amount of which depends on the vehicle in question. Companies like Embassy Loans will agree with you a given amount, then get the money to you within a mere few days of your application. All you need to do is provide a couple of supporting documents that prove you own the vehicle. After that, getting the money is easy.

When you get a title loan, though, you’ll want to make sure that you’re able to pay it back. If you can’t, then the lender is legally able to take possession of your vehicle. Since title loans are a temporary measure to get out of other financial trouble, and losing your car can make it even harder to do your job or look for a new one, you should avoid making the problem worse. If you know that you’ll be able to pay your title loan back in time, though, it’s a great way to get money when you need it quickly—like when you need to settle another debt that could be more urgent.

Car title loans are a great way to help you deal with tough and immediate financial crises, as long as you have a reliable way to pay them back in time. If you can’t, then you might want to avoid them, since you probably use your vehicle for several important tasks and want to keep it in your possession. In cases where you just need a bit of money for a short period, though, like when you need to get by during a dry spell or pay off another debt so as to improve your credit, title loans can be a very good idea. It all depends on you, and how well you can pay it back afterwards.



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.