If you have ever bought a home or a car, you may understand the loan process. It is usually long, arduous, and often frustrating. The next time you need to borrow money, for whatever reason, you may want to consider a car title loan. It will be the easiest loan you ever decide to take.
What Is a Car Title Loan?
An auto title loan is a short-term loan in which a borrower puts up the title to a vehicle as collateral. Normally, these types of loans are for amounts ranging from a few hundred dollars to a few thousand dollars that you intend to pay back within a short amount of time.
How Do I Obtain A Title Loan?
As with most types of loans, the first step in the process is filling out an application. At Embassy Loans, a leading provider of car title loans, borrowers can complete the entire loan process from the comfort of their own homes. Everything starts with the completion of the application, which you can do from your personal computer, tablet, or even smartphone.
What Are the Requirements?
To complete an online title loan with Embassy Loans, you and your vehicle must meet certain criteria. Your car must be a 2003 or newer and cannot have more than 170,000 miles on it. The vehicle must be in good condition and have a clear Florida title. To complete the loan process, you as a borrower will need a smartphone or tablet equipped with a camera or have a digital camera and a computer. Part of the loan process will involve taking pictures or your car or truck and then emailing those pictures to Embassy Loans.
What Documents Are Required?
You will have to provide copies of your driver’s license and something that shows where you live. Usually, a utility bill does the trick. You will need to provide the title to the vehicle. You will take 15 clear pictures of the vehicle that will be used to determine its value and, ultimately, the amount of money you can borrow.
How Long Does the Process Take?
We can approve you for a car title loan in as little as ten minutes. In many cases, we can complete the entire loan process within an hour. In as little as a day or two, you can have access to the cash you need. You still keep your car, and you can pay off your loan as quickly as you like. There is never a prepayment penalty.