Title Loans in Paradise Island, FL
Title loans are available for people who want quick cash to facilitate their needs. A title loan or title pawn is some states a short-term loan in which you can borrow cash against the equity of your vehicle. Title loans differ from state to state but it easy to acquire an Orlando title loans.
Title loans in Paradise Island are reliable and easy to acquire since it is in one of the states that haven’t banned Vehicle title loans. As long as you own a car and you are a lien holder (own the car right) you are eligible to use it as collateral to get quick cash to facilitate your need. However, if the loan repayment is not made in 30 days, the lender takes ownership of the car and sells it to regain the loan amount.
How to Apply for Car Title Loans in Paradise Island on our Website
Go to our website and fill out the application form. You will need to state your name, phone number, and Zip Code. Afterward, you will give information about your vehicle by describing your vehicle make, mileage, year and model.
The application process takes about five minutes and within completion of the form you are given a free car title loan quote. A loan representative will reach out to give you feedback.
When you have qualified for the loan, you will be needed to visit our offices and provide your state ID and a proof of your income. A credit report will also be needed but do not worry your credit scores won’t affect your qualification.
Florida Title Loan Act
Florida Title Loan Act under the Florida statutes in Chapter 537 requires the auto title loan lenders to be licensed by the state Office of Financial Regulation. It clearly states out to acquire a loan both parties must sign a written agreement that shows amount financed and rate of interest. The borrower must read and understand the agreement before signing and verify the lender’s practicing license.
It also states that failure to repay your loan, the lender has the right to own it and sell it and also keep the proceeds up to the amount you owe them plus the expenses incurred during the transition. You have the right repossess your car before being sold if only you pay the amount owed plus additional charges.
It also protects you by prohibiting lenders from levying prepayment penalties, fees, and finance charges. Lenders are not allowed to sell any auto parts or insurance.
Benefits of Car Title Loans
- Continue using your vehicle- Title loans in Paradise Island, lenders are not that strict. You can keep your vehicle and use it during the loan period while they hold onto the title as collateral.
- Application for car title loans in Paradise Island doesn’t require a credit check.
- You can spend your loan money the way you want.
- As long you have own car, your eligible for paradise Island Title loans.
- Applying for title loans in Paradise Island is easy.
How Car Title Loans Differ from other Fast Loans
- Car title loans and payday loans differ regarding interest rates and loss of property. Car title loans have low-interest rates while payday loans pose less risk of losing the personal property.
- Auto title loans payment is due in 30 days while installment loans payment is done in monthly increments and takes longer to repay.
- A personal loan is an unsecured loan while an auto title loan is a secured because the vehicle serves as collateral.
Types of Car Title
- A clear car title
This means you have the rightful owner of the car with no outstanding loans.
- A car with a lien
- This means the lender has the legal right to take your car when you have an outstanding loan until you have fully settled your debt.