What to Look for When Shopping for Car Title Loans

The car title loan has become more popular over the last decade as an alternative to financial institutions and their tighter restrictions on borrowing. The financial crisis that rocked our nation in the late 2000s made banks and other financial institutions more careful with their lending. Thus, many individuals who could borrow pre-crisis, now cannot. Car title loans, like those offered by Embassy Loans, are a viable alternative. Here’s what you should look for when shopping for a car title loan.

Understand a Car Title Loan

Make sure you understand the basics of a car title loan. You will be offering the title to your vehicle as collateral in exchange for a loan. If you fail to repay the loan, the lender has the right to take possession of your vehicle. Borrowers must understand this fundamental point. In the case of a default, the lender is going to want to make up some or all its losses; therefore, the lender will take possession of a vehicle and perhaps sell it at auction.

Look for a Reputable Lender

When buying anything, you probably look for a quality brand name or a company with a good reputation for taking care of its customers. Car title loans are no different. Embassy Loans has been in the car title loan business for over a decade. The company has helped tens of thousands of customers gain access to cash for a variety of reasons. Visit a few websites and do some research before choosing a lender.

Review the Terms

Like any loan, the lender is required to give you the terms of the loan before you sign the agreement. The terms will include items like your interest rate, the APR (average percentage rate), the length of the loan, and the payment amount. Carefully review these and take note of any excess fees, late fees, or others that may add to your total overall cost. Ultimately, when you see something that you don’t like, you can always refuse to sign and continue shopping.


Gather your information from the lenders you have interacted with and negotiate for the best offer. Ask for lower interest rates or more time on payments. Make sure that whatever you receive does not come with additional fees. Shopping for a car title loan is not much different than shopping for a car, new jeans, or a pair of shoes. You want to get the best deal possible. Doing so requires that you understand the product, look for quality, and review that for which you are paying.