Title Loans Deerfield Beach, Florida
Title loans in Deerfield Beach are an effective financial tool when you need money fast, on a short repayment schedule and without the hassle of a bank loan. Let’s take a closer look.
Title Loans Deerfield Beach: The Basics
An automotive title loan is a loan that uses a car or truck that you own as collateral. Since the loan is secured and the lender takes on very little risk, you have options generally not available on personal loans from banks and other financial institutions. For instance, loan amounts can be very small, such as just $100, and the repayment period can be very fast, such as just a single week.
That makes title loans in Deerfield Beach an interesting alternative to bank loans and lets them play an important role in the everyday economics of the area. Consider that SunTrust Bank, which has multiple locations in the Deerfield Beach area, has many restrictions on personal loans that makes borrowing a $100 over seven days practically impossible. In fact, a financial institution like TD Bank, which also has multiple branches in the region, generally won’t consider loans for less than $5,000. It also may not let you take out a loan for discretionary reasons. With a title loan, you can use the money in any way.
Title Loans Deerfield Beach: Applying Online with Loan Cheetah
Applying online with Loan Cheetah makes the process simple: You’ll need:
- Contact information, including a phone number or email address
- The make, model and year of your car or truck
- Any particular trim or style designation for the vehicle
- An odometer reading or estimate mileage
You’ll find the application form on the homepage of the Loan Cheetah. Fill in the information listed above, and click Submit to continue. The site will provide you with a car title loan quote in just seconds. This will give you a notion of the maximum loan amount that you can expect on title loans in Deerfield Beach.
At your convenience, you’ll be contacted by a loan representative at the phone number or email address you provided. He or she can answer your questions, such as how to get a title loan without a job, explore your various options and help you complete the loan process.
Legal Regulations for Title Loans in Florida
Title loans in Boca Raton and throughout the state are governed by the Florida Office of Financial Regulation. All entities that lend short-term loans must register with the OFR and meet certain standards in order to maintain that license. There are also state statutes that dictate boundaries for automotive title loans and other kinds of short-term loans. Loans are:
- Limited to 30 days and an additional 30-day extension
- Capped at 30 percent on the first $2,000
- Capped at 25 percent up to $3,000 and 18 percent beyond that
How You Can Benefit from an Automotive Title Loan in Deerfield Beach, FL
The benefits of a car title loan include:
- Cash in hand fast
- No credit checks or income requirements
- No background checks
- Flexible loan amount and repayment schedule
When you take out a title loan on a car or truck, you’re handing over the title and a key, but you keep a key and have full access to the vehicle throughout the loan term. Acceptance rates are very high and higher than most other types of loans. This has a lot to do with the low requirements, and you can get a title loan with bad credit, with no credit, while you’re collecting unemployment and so forth.