Car Title Loans in Fort Lauderdale, Florida
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Car Title Loans in Fort Lauderdale, Florida
Many people in Florida can’t get approved for traditional loans due to their credit. This is because borrowers must typically meet a minimum credit score requirement to get a traditional loan. Fortunately, you may still qualify for a title loan even if you were denied a traditional loan because of your credit.
How Much Can I Get For A Title Loan?
Your state of residence can impact how much you can get from a title loan, too. Why? Some states have laws that establish minimum and maximum title loan amounts.
For example, the maximum title loan amount in Illinois is $4,000 or up to 50% of the borrower’s monthly income. In New Hampshire, the maximum amount is $10,000. These are just two examples, but many other states have similar laws in effect.
All title loan companies must comply with these laws when doing business with borrowers in these states. If you live in one of these states, these laws could impact how much you are able to get from a title loan.
Do Title Loans Affect Your Credit?
Taking out a title loan in Fort Lauderdale could help or harm your credit score–it all depends on your actions. If you want to improve your credit score, the key is making on-time, consistent payments on your title loan. Doing this can increase your score over the course of the loan. Missing a payment or making a late payment–even if it only occurs once–could significantly decrease your credit score.
Are There No Credit Check Title Loans?
There are typically minimum credit score requirements that borrowers must meet to qualify for traditional personal loans. These requirements can make it hard for people to get approved for traditional loans. However, the eligibility requirements for title loans are not the same as the eligibility requirements for traditional personal loans.
Your credit is one factor that is taken into consideration when determining your eligibility for a title loan. This is why you will need to consent to a credit check as part of the title loan application process. However, your credit is not the only factor that will determine your eligibility.
Title loan companies also consider your ability to repay the loan. The value of your vehicle also impacts your eligibility since your title is used as collateral to support the loan.
The bottom line? Most credit types are accepted by title loan companies. If you aren’t eligible for a traditional personal loan due to your credit, you may still qualify for a title loan in Florida.
Reasons Why You Should Consider A Car Title Loan In Fort Lauderdale
Your payment history has a major impact on your credit–in fact, it accounts for about 35% of your credit score. This means making on-time, consistent payments on your Florida title loan could improve your credit score over time.
But the opposite is also true–missing or making a late payment on your title loan could hurt your score. This is one of the reasons why it’s so important to only borrow what you can afford to repay.
How Quickly Can You Get An Instant Title Loan?
If you need fast cash in Fort Lauderdale, Florida, there are a number of things you can do to speed up the title loan approval process. Follow these tips to secure the cash you need as quickly as possible:
- Determine Your Eligibility
- Provide Accurate Information
- Gather the Required Documentation
- Prepare for the Vehicle Inspection
- Sign and Submit Documentation Right Away
How Do Car Title Loans Work in Florida?
If you’re thinking about applying for a title loan in Florida, the first thing you should do is determine your eligibility. You may be eligible for a title loan if you meet these conditions:
- You are at least 18 years old.
- You own a vehicle.
- You are willing to consent to a credit check.
- You have auto insurance on the vehicle you want to use as collateral.
- You have a reliable source of income.
If you meet these conditions, you may want to apply for a title loan. Your lender will need to see certain documents to process your title loan application. Some of the documents you may need to submit include:
- The title to your vehicle.
- Proof of auto insurance.
- Proof of residence such as utility bills, lease agreement, or driver’s license.
- Driver’s license or another type of government-issued ID.
- Proof of income such as pay stubs, recent tax documents, or bank statements.
These requirements can vary, so your lender may ask for additional documentation to process your application. If you are having trouble finding some of these documents, ask your title lender for assistance.
How to Choose A Title Lender
Get the best deal by looking for a lender in Fort Lauderdale that offers competitive annual percentage rates (APRs).
How Can I Get An Auto Title Loan Online?
Follow these steps to apply for an online title loan in Florida from LoanCenter:
Fill out the form on our website to start the application process. A loan specialist will contact you with a quote shortly after you submit this information.
Learn about your loan. Your loan specialist will tell you if you are approved for a title loan and if so, how much you can borrow. You will also learn other details about your loan agreement, such as the interest rate and term.
Submit and sign paperwork. If you are happy with your quote, the next step is signing paperwork to finalize your loan. This is also the step where you will need to submit the required documentation to your lender. Be sure to ask your loan specialist to confirm that you have submitted everything that is required to process your loan.
Application Review. When all of your paperwork is submitted, our loan specialists will review your documentation to determine if you qualify for a loan. If all of the documents are reviewed, then you will receive a notification that your loan has been approved.
Get your cash. There are several ways to get your cash. You can pick it up in person at one of our partners’ locations or get it sent to you via check or wire transfer. Choose the option that is most convenient to you.
You can reach out to a loan specialist for assistance at any time when applying for an online title loan. Your loan specialist can answer your questions, address your concerns, and guide you through the process of applying for an online title loan.
How to Apply for a Title Loan in Fort Lauderdale, Florida
The process of applying for a car title loan in Florida is simple and straightforward. If you need fast cash, follow these steps to apply for a car title loan from LoanCenter:
- Contact our loan officers. You can call 1-855-713-6522 to speak to a loan officer directly or submit your information using the form on our website. Then, a loan officer will contact you as soon as possible.
- Get approved. Your loan officer will ask you to provide some basic information about your vehicle. This information is used to prepare your free quote, which will tell you if you are approved and if so, how much you can borrow. Feel free to ask your loan officer questions about your quote.
- Sign and submit documentation. If you’re satisfied with your quote, finalize your loan by signing and submitting the required documentation. Talk to your loan officer to find out exactly what you need to do to complete this part of the process.
- Get your cash. You can either pick up your cash at one of our partners’ convenient locations or have it sent directly to you via check or wire transfer.
The cash you need to make ends meet is within your reach. Contact us today to start the title loan application process.