Title Loans North Miami Beach, Florida
If you need cash fast for any reason, you can get it with a title loan if you:
- Can verify you’re least 18 years of age
- Possess the title of your vehicle
- Own that vehicle free and clear
There are usually few other requirements needed to get a car collateral loan, which is why acceptance rates are higher than with any other kind of personal loan. Your credit history doesn’t matter, so if you have a bankruptcy, bad credit or no credit, you’re still good to go. There usually aren’t any income requirements either, which means you’re still OK if you don’t have a job.
This is considerably different than what the local banks require for a personal loan. Financial institutions like SunTrust and Chase won’t even consider a personal loan if you have bad credit or are out of work. If your credit score isn’t high enough, they may even want control over how you use the money. Loan minimums are usually thousands of dollars, and term minimums are usually 90 to 180 days. Title loans, on the other hand, can be for as little as $100 and for just a single day.
Title Loans North Miami Beach: Applying Online
You can get an accurate quote online, apply for title loans in Miami and throughout the state and even finalize the process all from the comfort of your own home using Loan Cheetah. To start this process, go to the Loan Cheetah homepage and:
- Enter the year, make, model and style of your vehicle.
- Fill in estimate mileage or an odometer reading.
- Provide your full name, phone number, email address and zip code.
- Indicate that you’ve read the Terms and Conditions.
- Click or touch the blue button labeled “Submit.”
Loan Cheetah will provide you with an accurate estimate within seconds. This quote will give you an idea of the maximum loan amount you can expect. You’ll then be contacted by a loan expert at your convenience. He or she can provide answers to your questions, discuss your concerns, explore the options available and, if you choose to proceed, assist you in finalizing the loan and getting cash in hand.
Regulations Governing Florida Title Loans
Florida introduced the Title Loan Act in 2000 in order to protect consumers from unfair practices. It requires lenders who lend title loans North Miami Beach to be licensed by the state. The act also places restrictions on fees, interest rates and terms. It also dictates how the lender can collect on a loan to prevent unscrupulous lenders from making it impossible for borrowers to protect their vehicles. The law also defines what must be included in the written agreement. These loans are to be for no more than one 30-day period or one 60-day period if both parties agree to an extension, and loan interest rates are capped at:
- 30 percent up to $2,000 borrowed
- 25 percent up to $3,000 borrowed
- 18 percent beyond $3,000
How You Can Take Advantage of an Automotive Title Loan
Determine how much you need, and then take out a loan for just that amount. Consider requesting your title loan quote online with Loan Cheetah because that lets you shop fees and interest rates and even finalize the loan acquisition without ever leaving your home. Don’t worry about your credit history, background or income. Few lenders perform credit and background checks for title loans North Miami Beach, and most don’t demand proof of income. Although there are state laws regarding loan-to-income ratios, these only apply for the larger loan amounts. Note that although a title loan requires your vehicle as collateral, it doesn’t actually require your vehicle, so you’ll have access to it throughout the loan.