Title Loans in Lauderhill, FL
Title loans Florida advances are short-term cash advances that can help a Lauderhill, Florida resident get out of a financial emergency or another kind of jam that such a person may get into. Many Floridians come across problems that they need relieved by a quick cash loan. Title advances are the perfect items for such people. A consumer can get a cash advance of up to $5,000 if the value of the person’s vehicle is as much. Interested persons can contact a title loans Lauderhill lender today and ask for assistance.
What Is a Title Loan?
A title loans Florida advance is a secured loan that involves allowing a lender to place a lien on one’s vehicle for a period of 30 days. The lender releases the lien as soon as the consumer repays the advance. The consumer does not have to worry about being without a vehicle, however. Title lenders allow their customers to keep on driving their vehicles for the duration of the loan. They will not repossess the vehicle unless the customer makes no effort to repay the advance and does call and try to work out a plan.
How to Apply for a Title
The first step toward obtaining a title loan is visiting the website and completing a short form. The short form will ask for some information such as name, address, phone number and other information about the prospective buyer. Next, the person will have to answer some questions about the vehicle. The prospective buyer will have to provide details about the vehicle such as the VIN number, make, model, manufacturing year and so forth. The lender will use that information to come up with the title loan quote for the consumer. If the consumer likes the loan quote, then he or she can visit a nearby branch and complete the process. With car title loans in Fort Lauderdale to Sunrise, we have many convenient locations to serve you.
The lender will ask the applicant to provide identification as well as the title to the vehicle to show that the person has full ownership. The applicant will also want to provide some information such as references and pay stubs to show that other people know of his or her faithfulness and that the person does have some source of income. The last step before the lender provides the cash advance is the contract signing. The applicant must sign a contract to receive the funds.
Title Loan Laws in Florida
Many states have regulations when it comes to handing out title loans and other quick cash advances. Florida regulations state that lenders may not change more than 18 percent of interest for the first $3,000 of funds borrowed. Amounts that are between $2,500 and $3,000 cannot have more than a 25 percent interest rate attached to them. Loans that are $2,000 or less can only have up to 30 percent of interest charged on them. Lenders can only provide one 30-day extension to each consumer who needs one. The lender must resolve the situation a different way after he or she gives the first extension.
Benefits of a Title Loan
Title loans have many benefits to them. The first benefit to getting a title loan Lauderhill is the speed at which a person can get it. The second benefit to getting a title loan is that a person can get one for a healthy amount of cash. The third benefit to getting a title loan is that it is a process that can earn a person good credit with the lender. The lender will be likely to help the person in the future if he or she needs assistance.