If you are like one of the many thousands of households hit by the trying economic times of the past few years, there are some things that you can do to get a handle on your finances. Of course, it will take some discipline, but in the end it will be worth it. One of the easiest things you can do to wipe out some of your most expensive debt is to utilize the assistance of a car title loan. Title loans are easy to obtain and offer a quick source of cash.
By taking out a title loan, a borrower could use the funds to eliminate credit card debt or get caught up with mortgage or rent payments. Obtaining an auto title loan is relatively easy. A borrower must own a vehicle and hold a clear title. The car must be paid off or be very close to being paid in full.
Those looking to obtain this type of loan can find a company such as Embassy Loans of Florida and fill out an application. Embassy Loans allows applicants the option of an online application or filling one out at one of their convenient locations. The application takes a few minutes and when completed, the staff at Embassy Loans will begin processing it.
Unlike conventional loans, which require mounds of paperwork and tons of time, a car title loan is quick and easy to process. When the application is done, Embassy Loans will then require the applicant to verify his or her identity and residency. They will also need to see the title to the vehicle being used as collateral. When the borrower’s identity and residency has been verified, the car can be inspected. Embassy Loans will make sure that the title matches the vehicle and then will determine a value. The value of the vehicle is important since it will determine how much can be borrowed.
Embassy Loans will use one of several value estimators to come up with a number. Based upon that number, the loan can be finalized and a repayment schedule can be set. All that is left is for the borrower to pick up the money. The entire loan process, from starting the application to receiving the money, usually takes between 24 and 48 hours. That is much less time than the traditional bank loan. Those funds can then be utilized by the borrower to help get his or her finances back on track.