Title Loans Weston, Florida
Title loans are secured personal loans, which means that the lender takes on very little risk since repayment is guaranteed. Since the loan is secured, you can also expect high acceptance rates, fast processing times, short repayment schedules and flexibility when it comes to loan amounts. These loans are suitable for people with bad credit, a bankruptcy on their record or no credit history at all. You can even get a title loan without a job or while collecting unemployment or disability. You will need to:
- Be 18 years old or older
- Possess the title for the vehicle you use as collateral
Title loans play an important role in daily finances for many communities. The reason for this is that the banks consider small personal loans to not be worthwhile. Consider Commerce Bank, which is one of the largest banks in the area and a financial institution that actually allows loans to “fund life events,” which many area banks do not. The loan minimum at Commerce is $7,000. The loan period would be at least 90 days, and there would be early repayment fees in order to ensure that the bank made money.
Title loans Weston: Getting a Quote Online with Loan Cheetah
Loan Cheetah can provide you with car title loan estimate via the Web in a matter of seconds. There’s no obligation, and if you choose to proceed, Loan Cheetah can help you finalize the loan. Before you get started shopping title loans in Weston, you’ll need to have some information handy:
- A name and zip code
- A phone number and/or email address
- The estimated mileage of your car or truck
- The make, model and year of your vehicle
How Title Loans Are Regulated in Florida
Title loans in Fort Lauderdale and throughout the state are governed by a set of statutes that are aimed at protecting consumers from exploitative practices. You can be confident that any entity that lends title loans in Weston is licensed and monitored by the state. An unlicensed entity wouldn’t be able to collect on the loan legally. Florida also regulates how much interest a lender can charge. Lenders can charge up to 30 percent on the first $2,000, and that rate falls to just 18 percent on amounts over $3,000. Note that this doesn’t mean that a lender will necessarily charge you 30 percent. Lenders are competitive with each other, and rates will vary based on the prime interest rate.
Advantages Title Loans Have over Other Personal Loans
- Fast approval process
- Option for small or large loans
- Same-day funding
- Minimal requirements
The title loans that Loan Cheetah can help you secure are better than other types of short-term personal loans because they’re more cost-effective. This is true because the interest rates are lower, the fees are less, there aren’t early payment penalties and you can pay early to reduce your obligation. Additionally, acceptance rates are higher than with almost any other kind of personal loan. Since the loan is guaranteed via your vehicle, there aren’t any credit checks or background screening. You can get these loans even without an income or without having a checking or other bank account. Better yet, you keep your vehicle throughout the entire term of the loan.