Car Title Loans in Miramar, Florida
GET FAST CASH NOW
If you took out an auto loan to purchase your vehicle, you’re not alone. If you are still paying off your auto loan, you may wonder whether that makes you ineligible for a title loan.
The good news is that you may qualify for a title loan even if your vehicle isn’t completely paid off. You must, however, have equity in your vehicle in order to qualify.
Equity is the difference between your car’s current resale value and the amount you still owe on your auto loan. If your car is worth $10,000 and you still owe $2,000, this means you have $8,000 in equity. If you owe more than your car is worth, this means you don’t have equity in your vehicle, which makes you ineligible for a title loan in Miramar.
How Much Can I Get For A Title Loan?
The type of vehicle you use as collateral can impact how much you are able to borrow. Many people in Miramar, Florida use the title to their sedan, SUV, pick-up truck, van, or other passenger vehicle as collateral. However, some people choose to use the title to a motorcycle or RV as collateral instead.
Do Title Loans Affect Your Credit?
Taking out a title loan in Miramar could help 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?
Most title loan companies in Miramar perform credit checks, but you shouldn’t let this stop you from applying for a title loan.
Remember, title loans are not like traditional personal loans. You may still qualify for a title loan even if you don’t qualify for a traditional personal loan due to your credit. Why? It’s true that title loan companies take your credit into consideration when determining your eligibility for a title loan, but this is not the only factor that will determine your eligibility.
Because your title loan is secured by the title to your vehicle, the title loan company will also consider the resale value of your vehicle when determining your eligibility. Your ability to repay the loan–in other words, your income–will also be taken into consideration.
Eligibility requirements vary from lender-to-lender, but in general, most credit types are accepted by title loan companies. This is why you should still consider applying for a title loan even though you will need to consent to a credit check to get it.
How Quickly Can You Get A Title Loan?
The time it takes to get approved for a title loan in Miramar can vary on a case-by-case basis, but in general your loan proceeds will be available shortly after your application is approved and all legal documents are completed. If you want to speed up the process, make sure you submit the required documentation to your lender as soon as possible. The sooner you submit this paperwork, the sooner your lender can process and approve your title loan application.
In Miramar, your loan proceeds in cash will be available shortly after your application has been approved. You can choose to either pick up your cash in person or arrange to have it sent to you via check or wire transfer.
How Do Car Title Loans Work in Florida?
Title loans are not like traditional personal loans. A title loan is a secured loan, which means it is backed by collateral. If you want to take out a title loan, you must use the title to your vehicle as collateral. Some lenders in Miramar accept titles to RVs and motorcycles as collateral, too.
How to Choose A Title Lender
Get the best deal by looking for a lender in Miramar that offers competitive annual percentage rates (APRs).
How Can I Get An Auto Title Loan Online?
Your vehicle is used as collateral to secure your title loan, so your lender will need to know how much it is worth. Your vehicle’s resale value is one of many factors that your lender considers when determining if you qualify for a title loan in Miramar and if so, how much you can borrow.
Part of the valuation process typically includes an inspection of your vehicle. Your lender will calculate your vehicle’s resale value based on its make, model, year, mileage, condition, and trim level.
Your lender may require you to bring your vehicle in for an inspection, however some title loan companies may offer to send an inspector to you to make the process more convenient. Your lender may also allow you to submit photos of your vehicle instead of bringing it in for an inspection. If you apply for an online title loan, talk to your lender to learn more about their inspection process.
How to Apply for a Title Loan in Miramar, Florida
Your search for the best title loans in Miramar, Florida is over. If you need fast cash, follow these steps to apply for a title loan from LoanCenter:
- Get in touch with a loan officer. Call 1-855-713-6522 to speak to a loan officer directly. You can also submit your information using the form on our website. If you choose this option, a loan officer will contact you as soon as possible.
- Find out if you are approved. Your loan officer will review your information and tell you if you are eligible for a title loan. You will also find out how much you can borrow, the payment amount, the term, the interest rate, and the APR.
- Finalize your loan. If you are satisfied with your quote, you will need to sign and submit documentation to your lender. Your loan officer will explain what documents you need to provide to complete this step in the process.
- Get your loan proceeds in cash. Your money will be available shortly after your application is approved. Once it’s ready, pick up your cash in person at one of our convenient locations or arrange to have it sent to you via check or wire transfer.
You’re only four steps away from getting the cash you need to make ends meet. Don’t wait any longer–start the online application process now.