Title Loans Lauderdale Lakes, FLorida
If you need cash fast for whatever reason, then consider title loans in Lauderdale Lakes as an effective alternative to personal loans from banks. Let’s take a closer look:
Title Loans Lauderdale Lakes: How Car Title Loans Work
A car collateral loan is a short-term loan that you secure using the physical title of a car or truck that you own. Consider that large area banks like SunTrust and BankUnited often refuse personal loans that are small, allow for repayment over a short period or are used for unassigned and unapproved purposes. If you get a personal loan from a bank, you may have to take more than you need, and you may have to agree to a term that’s longer than you really need or want. There are even penalties for early payment.
Title loans in Lauderdale Lakes are quite different. These loans are secured, which means that approval rates are higher than other kinds of personal loans. Approval can happen in less than a minute, and many loans finalize in fewer than 10 minutes. In addition, loan amounts can be very small, such as just $100, and the term can be just a week or less. Better yet, you can choose to repay the loan at any time without penalty, which means that you have options for decreasing your total obligation.
Title Loans Lauderdale Lakes: Applying and Getting Your Loan Online
You may be surprised to learn that you can apply for title loans online and complete the process from the comfort of your own home. Loan Cheetah is a leader in online title loans and in title loans in Fort Lauderdale in particular, and all that’s needed to get started helping you is some information:
- A full name and zip code
- Contact information
- Details about the vehicle you want to use as collateral
After you fill in and submit these brief form, Loan Cheetah will provide you with a title loan quote online in just moments. Then, a loan representative will contact you to discuss the loan amount and length that interests you and to answer any questions that you may have. If decide to take the loan, the representative can then guide you through completing the process.
How Title Loans Are Regulated in Florida
Florida has consumer protection in place that governs title loans in Lauderdale Lakes and throughout the state. Lenders must advise you of the interest rate, any charges and total obligation that you’ll incur if you take the full term to pay. Interest rates are also capped so that you cannot pay more than 30 percent on the first $2,000 borrowed, 24 percent on the next $1,000 borrowed and 18 percent on all money borrowed above $3,000. Additionally, loans cannot be for more than 30 days initially, but the law does allow for one 30-day extension if both parties agree.
The Benefits of Title Loans in Your Area
Perhaps the greatest advantage of a title loan is the speed and efficiency of the process. When you need cash, you can get it in minutes without the hassles of a bank loan. You also have the flexibility to borrow only what you need and over the timespan that you need it. Title loans are rarely denied. Since these loans are secured, there’s no need for a credit check, background check, income check and so forth. That means that you can get a title loan without a job, with no credit, with bad credit and so on.
