You may have heard that car title loans are a no-no, but honestly, that couldn’t be further from the truth. There are actually many advantages to car title loans and they are very safe. In Florida, these loans are regulated so you won’t have to worry about sleazy lenders taking you for a ride. One of the main advantages of a car title loan is the ease of obtaining a loan. Are they really that easy to get? You bet!
Because these loans are so easy to get, they are very attractive to people who may be having some financial problems…and actually, that is exactly who these loans are designed for. Lenders who offer car title loans don’t care about your credit score, nor do they can if you have a full time job. What they do care about is that you have a vehicle that you are willing to put up as collateral in order to get a loan. You will have to sign over the title of your vehicle to the lender, but that brings us to the second main advantage of getting a car title loan.
This second advantage is that you will still be able to use your vehicle, even though you have temporarily signed it over to a lender. This gives you the money you need to pay bills, travel, make home repairs or anything else you need a financial boost for. These are secure loans, which means your loan is secured by something, in this case, your vehicle. The big trade off for giving up temporary ownership is a very fast loan with no credit check…you can literally have money in your pocket within hours.
As soon as your loan is paid back, ownership of your vehicle will be returned to you and you can drive off as if nothing ever happened. If you have bad credit and have not been able to get approved for loans in other ways, this may be the perfect opportunity to get the money you need without a big hassle. If you would like more information about getting a car title loan in Florida, contact Embassy Loans.