Title Loans Lake Mary, Florida
Ever been in a situation where you needed cash fast to pay a bill or cover groceries until payday? That’s where title loans in Lake Mary can be a lifesaver. These loans are available locally and online, and all you need is the title of a vehicle that has value and that you own in full. Don’t get hung up too much on the value aspect because even salvaged and rebuilt car title loans are an option.
Title Loans Lake Mary: How Car Title Loans Can Work for You
Even though you use your car as collateral, you still get to keep it and use it. You can also get money very fast and with a repayment schedule that lets you minimize your overall costs. Personal loans from a bank are an option too, but they’re rarely as convenient. Fidelity Bank, for instance, will lend you money, but it wants a strong credit record and has a process that may take a day or more. In addition, banks like BB&T and BMO Harris won’t let you borrow small amounts, such as $500, or borrow over a short period, such as a week to 30 days.
Title Loans Lake Mary: How You Can Get a Car Title Loan Online
Getting a vehicle title loan online through a leading website like Loan Cheetah is easy. Just navigate to the homepage and fill out the basic application form. The form requires:
- Name and zip code
- Contact information
- Details about the vehicle
That’s it. Once you submit it, Loan Cheetah will provide you with quotes for title loans in Lake Mary. When you’re ready to proceed, a representative will contact you and help you with that process. You may be able to finalize most of the details online and then just have to enter a local shop to get the cash. However, in many cases, it’s possible to finalize the entire loan without even leaving your home. Most loans can be completed in well under 15 minutes, and the loan representative who contacts you will be available to answer any questions you may have and discuss your options.
How Florida Provides Consumer Protection for Car Title Loans
Florida passed the Title Loan Act in order to help protect consumers who take out title loans in Orlando and throughout the state. The state requires that all lenders be licensed and in good standing. Lenders must provide in writing a clear explanation of lien fees, interest rates and total financial obligation. Loans can be for a period as short as one day but are limited to 30 days initially. Loans can be renewed for any number of additional extension periods up to 30 days each, but interest can never be rolled into new principle. Additionally, interest rates are capped depending on the size of the loan.
How Car Title Loans Can Benefit You
Title loans in Lake Mary are an excellent option when you need cash in hand fast. Personal loans from a bank are a hassle, and payday and other short-term loans tend to cost a lot more in the end. Title loan requirements are generally limited to proof of identification, possessing a physical title of a vehicle that you own in full and that vehicle having a positive value. That’s it. There’s no need to concern yourself with background checks, credit checks, employment verification and so forth. You can even take out a title loan if you’re between jobs or collecting some form of government assistance.