As the holiday season comes to a close, it will be time to deal with paying for it all soon. All of those nice presents and holiday food and drink must be paid for at some time. Like many others, you decided to put all of your holiday spending on credit cards. Pretty soon the bills will come, and it will be time to settle up. The problem is, of course, you still don’t have the money. There is a solution, however.

A quick and easy way to clear that debt from your credit cards is to use a car title loan. A car title loan is a secured loan that is available to those who own a vehicle with a clear title. The vehicle must be paid off or, in some cases, almost paid completely. Since the loan is secured by the car title, there is no need for some of the more time-consuming elements required with bank loans.

A person can start the car title loan process by visiting a title loan company like Embassy Loans in Florida and filling out an application. Most title loan companies also offer customers the ability to fill out an application online. The process takes just a few minutes whether filled out in person or online.

Once the application is completed, the applicant is asked for some documentation. The applicant must prove his or her identity and residency. A driver’s license and a utility bill are normally used to meet these requirements. The applicant must also present the title to the vehicle. Embassy Loans, like other title loan companies, will verify that the title matches the vehicle being used as collateral.

When all of the paperwork is verified, the vehicle must be appraised for its value. This is an important step in the process as it determines how much money a person can borrow. After the car has been appraised, the terms of the loan and the loan agreement can be drawn up. Once the documents are finalized, the applicant signs them and receives his or her money.

The entire process from beginning to end usually takes anywhere from an hour. Many auto title loans are completed with the funds paid out the same day that the application was started. These loans are processed much faster because there are no credit checks. A car title loan is not based on credit; it is based on the value of the vehicle offered as collateral. As a result, they are easy to obtain and a great way for anyone to pay off the credit cards that they ran up during the holidays.