It’s wise to question the differences between title loans and their alternatives — this is a major financial decision that you’re about to make, and not all loan solutions are created equal. Title loans Clearwater do some cool things that combine the best parts of other lending options, but they require that you possess legal ownership over a motor vehicle and are willing to temporarily hand us the title to that vehicle as collateral while you pay back the loan.
Title loans Clearwater offer all of the following:
• 24-hour delivery of cash
• Up to five-digit loans, depending on the value of your motor vehicle
• No credit checks
• Relatively low interest rates
While you pay the loan off, you’re permitted to continue using your personal vehicle however you please. By Florida law, we can’t touch the vehicle or mess with the title itself unless you’re more than a month late on your payments — even then, you’ll find that we have a forgiving refinance program to help you get that extra boost and finish paying it back. Once you’re all done, the title comes back to you in the same condition that it was originally handed to us.
We understand that some short-term lending agencies like to stick their customers with overly complicated applications. Because of how title loans work, we don’t need to ask for much — just the following:
• Name, phone number and email address
• ZIP code
• Make, model, style, year and mileage of the motor vehicle
Once you send that in, you’ll receive an instant title loan quote. One of our certified loan specialists will review your information and reach back to you as soon as possible to discuss your options. The size of the loan and the term over which you’ll be allowed to pay it back are contingent upon the value of your vehicle and your income situation, which we’re legally obligated to collect. We’ll also need to see proof of your identification.
While it’s preferred that you have solid income, you can still get cash for car title even if you’re collecting government benefits or have no income at all. It’s also possible to trade us the title while there’s a lien on it, but it can complicate the exchange process and reduce the size of the loan that you’ll be allowed to carry.
Florida’s laws aren’t much different from any other state’s. Generally speaking, the lenders themselves are at a disadvantage when dealing with the public. Here are a couple of the obligations that we’re required to fulfill:
1. Lending agents must be licensed by the government in order to create loans for you. They know the ins and outs of protecting you and ensuring that your information doesn’t get into the wrong hands.
2. We’re urged to check our clients’ income situation and weigh out their expenses in order to determine what their payment schedule should look like. The idea is to ensure that the payments are timely, and the court of law doesn’t take nicely to lenders who force clients to make late payments in order to relieve their debts.
3. Your interest rates are strictly required to stay within 10%. Breaching this law constitutes usury, which is a major offense that never ends well for the lender.
We believe that title loans Clearwater accomplish everything that other lending options do best. Let’s check out those pluses one more time:
1. The Quickness of Payday Loans
2. The No-Credit-Check Policy of Cash Advance
3. The Loan Size and Affordable Interest of Unsecured Personal Loans
4. Streamlined Refinancing Program
5. Forgiving Eligibility Requirements