How to Shop For a Title Loan
Looking for a title loan? It is a major financial decision and we suggest you don’t pick the first company you find. Instead, here are some questions to ask that will help you pick the company that’s best for you. We suggest you do your homework and get answers before you commit to anyone’s title loan:
Are They Licensed?
Auto title loan companies operating in Florida are supposed to be licensed under the law governing consumer finance (Statue 516). The issue is that some of the online companies from out of state are offering loans without that license, which means you have no one to turn to if something goes wrong.
Where Are They Located?
Do they have an office in Florida? If not, where are you going to go if you have a problem? In fact, if the company is located in another state, you may find that the loan is governed by another state’s laws (and rates!). Since Florida’s laws are among the strictest, you want to know that the company you are dealing with has an office and it is in Florida.
What Are The Rates and Fees?
You need to understand exactly what the rates and fees are for any loan before you sign up. Seems obvious, but it is amazing how many people don’t ask and don’t read the loan paperwork.
Do They Give You Straight Answers About Your Loan?
Don’t fall for answers like “this is the best loan in Florida”. You need straight answers about the rates, fees, and policies for how the loan will be handled. If you are getting pressured to sign without those answers, you need to find another company to deal with.
Are they trusted?
First, look for a company is rated by trusted sources like Yelp and Trust Spot. If they are not, that is a huge red flag that they don’t care about their customers. Second, look at the report. It is not unusual for there to be complaints since misunderstandings happen. Instead, look to make sure the company you are looking at responded promptly and resolved the complaint. That says they cared and wanted to work with the consumer.
Be Sure Embassy Loans Is On Your List
Embassy Loans is the leader in Florida Title Loans. We got that way by treating the customer with respect, and helping them in these hard times. Give us a call, and you will see why we are the best source for emergency cash.
