You’re in a financial situation and you need cash fast. With the minimum wage more than two dollars lower than the living wage needed for life in Duval County, it’s no wonder so many people struggle to make ends meet. And, that living wage is for single people. It’s higher for those with a family. How is it possible for folks in Atlantic Beach to keep up with the costs of food, shelter and other necessities? One way is through car title loans in Florida.
Title loans in Atlantic Beach are a financing option from a non-traditional lender. Applicants pledge their car, truck or motorcycle as loan security. Based on the value of the vehicle, a title lender offers the applicant cash. The two parties agree on terms, and the applicant gives the vehicle’s title to the lender. In return, the lender gives the borrower the loan money. Until the borrower repays the loan, their title remains in the safekeeping of the lender.
Because these loans are collateral-based, there is no credit check. No one from the loan company is searching the applicant’s payment history to find out who they owe and if they pay on time. All applicants have equal standing with title lenders because each borrower puts up collateral.
Applications for Title Loans Atlantic Beach?
Just like the wind blowing through our coastal community, online applications for title loans in Atlantic Beach are a breeze. Just choose the year, make, model and style of your vehicle. Add the mileage, your name and contact information, and submit. Soon after, you get a text or email with a loan offer. Then, one of our representatives calls you to discuss the loan and work out the details. Most of the loan process takes place over the phone, but you will need to come by our office to sign loan documents and have a quick inspection of your vehicle. And, of course, you’ll want to pick up your loan cash. Even with a trip to our location, you’ll probably get your money in less than 24 hours of applying.
Florida law requires a state license for title lenders. They must give borrowers notice if the borrower’s vehicle is up for repo or sale because of a delinquent account. Both lender and borrower must review and sign a document that outlines the loan amount, interest and other fees and exactly what happens if the borrower does not meet their repayment obligation.
Interest rates on Atlantic Beach and Jacksonville title loans varies based on the loan amount. Loans under $2,000 have interest rates up to 30 percent annually, while loans between $2,000 and $3,000 have interest of up to 24 percent per year. Loans over $3,000 have the lowest rate, which is up to 18 percent annually.
Loan terms are 30 days. When agreed upon by both lender and borrower, additional 30 day terms are allowed. Lenders may not charge a penalty when borrowers pay off loans early.