When you need money fast, there aren’t all that many alternatives. There are always relatives, but often they will not have the kind of money you need. Other times, they won’t want to help because they have in the past. You can always take some of your valuables to a pawn shop or even find a payday lender.
One of the easiest ways to access quick cash is through the use of a car title loan. Many people are unfamiliar with this type of loan. Those who own a vehicle with a clear title can qualify. The car or truck is used as collateral. Borrowers can borrow against the value of the vehicle.
For example, consider a situation in which you may need a divorce attorney. In total, the fees you incur might come to $10,000 with a substantial portion of that due upfront. If you do not have access to that kind of cash, a car title loan from a lender such as Florida’s Embassy Loans can help.
Vehicle owners with a clear title and a car that is paid for in full can fill out an application at one of the many Embassy Loans locations or fill one out online. After the application is completed, applicants must verify their identity and their residency. They must also produce the title to the vehicle.
Embassy Loans will verify the person’s identity and where they live along with examining the vehicle’s title. The company will inspect the car or truck at one of its 21 different inspection locations around the state. This is an important step as it will establish the vehicle’s value and determine the amount that can be borrowed.
With the inspection completed and the loan amount established, the loan can be finalized. All that is left is for the borrower to pick up his or her cash. The entire process is quick compared to conventional loans from a bank or credit union. A car title loan normally takes between 24 and 48 hours to complete. Many are finished the same day in which they were started.