The car title loan is one such loan. An individual who owns a car that is in good shape and possesses the title to it can use the vehicle as collateral to obtain a loan. The process is easy. An interested person fills out an application either online or in person. The lender will verify an applicant’s identity and examine the title and the vehicle.
A value is established for the vehicle and a loan agreement is drawn up. At Embassy Loans of Florida, this entire process can take as little as an hour until a borrower receives his or her money. There are no credit checks or other paperwork involved that typically makes traditional loans take longer. There are numerous car title loan firms available. Finding the right one can be tricky. You can help yourself by doing the following when looking for a title loan lender.
- Find out if any of your friends or family has ever borrowed money using a car title as collateral. If so, ask about their experience and, if favorable, request a name and phone number so that you may call them.
- Make your list of title loan companies. Begin some research on each firm to make sure they are legitimate. You can easily find out if the company is licensed to operate in your state and you may want to verify that any information you gather is, in fact, true.
- Contact the companies that you decide are best. Compare what each company offers as far as features and benefits. Weigh each company’s offer. You would prefer a flexible payment plan, reasonable interest rate, and quick approval.
- Choose the company that meets your needs and goals.
Embassy Loans of Florida is one of the state’s leading consumer finance companies and has helped thousands of customers obtain car title loans to allow them to borrow money when most needed. The company features a streamlined approval process and can help you get your hands on cash very quickly.