Well when trying to borrow money from family or friends does not work out, there is always the car title loan to help bail you out. Car and truck owners who possess a clear title can use it to their advantage and get a loan. The vehicle must be paid for, or almost entirely paid for, and have no liens attached to it. If so, it is possible to obtain an auto title loan from a company such as Embassy Loans.
Embassy Loans is one of Florida’s largest and most well respected consumer finance companies. They have helped numerous customers with title loans. The process starts with the filling out of an application. Potential borrowers can go to one of the company’s branch offices or simply fill out an application online. The application is very basic and takes just a few minutes to complete.
Once finished, the applicant will have to present a few documents to the title loan company. They will have to prove their identity, where they live, and also present the title to the vehicle. Each of these will be checked by the title loan company. When they are all verified, the loan process can begin.
The next step is for the vehicle to be assessed for value. With a value established for the car or truck, the loan terms can be drawn up. Once the loan documents are finalized, the borrower will sign them and then receive his or her money.
The entire process will take somewhere between 24 and 48 hours with a majority of car title loans processed the same day in which they were started. A car title loan differs from more conventional loans from a bank in that there is no need for a credit check. The loan is secured by the title to the vehicle and is not based on a person’s credit score or credit history. A car title loan is easy to obtain and can help you out in a pinch when your car breaks down.