Title Loans in Orlando, FL
Are you in need of some extra cash quickly but not sure where to go? Title loans offer a great way to get some extra cash when you need it. Continue reading how easy it can be to get title loans in Orlando, FL.
Orlando Title loans – What They Are
Title loans are loans based on the value of your car. Whereas traditional loans from banks can take days to get, title loans are there to help you when you need it. All you need it get title loans in Florida is to meet the following requirements.
- Must be 18 years old
- Must have driver’s license or state ID
- Must have a vehicle with a clean title
- Must have a source of income
Title loans can be taken out for a short amount of time or for a longer period. The choice is yours, and the lenders at Easy Choice Lending make the process of getting title loans in Orlando as simple as possible. Unlike banks and other lending institutions, we do not use your credit scores to determine eligibility.
Orlando Title Loans – The Application Process
Applying for title loans in Orlando is a simple process that can be completed online. It only takes a few minutes or as long as it takes you to provide the following information.
- Name, address with zip code
- Contact information
- Income and source
- Year, Make and Model of Car
- Mileage on Car
Once the application has been completed and submitted, an Easy Choice Lending representative will contact you to go over the details of the title loan and answer any questions you may have. If the loan is approved, the two of you will set up a time for you to bring your vehicle title to their location to finalize the loan and get your cash. At that time, the lender will go over the documents with you so you know what you’re signing.
Title Loan Laws in Florida
The state Attorney General has very specific regulations regarding Florida title loans. The regulations and laws are in regards to the following:
- Licensure of the title loan company
- The maximum amount of annual interest rate you can be charged
- Annual Interest rates based on amount
- Procedure involving possible repossession
- Viewing and reading of contract between lender and borrower
- Borrower rights regarding repossession or sale of the vehicle if loan defaults
What is a Clean Title?
In order for a title to be clean, it has to only have your name listed on it as the owner. When you take out a loan and use your vehicle as collateral, the lender’s name is listed as lien holder until the loan is paid in full. If your vehicle was previously used as collateral, make sure the title is now clean.
How Do I Get a Title?
If for some reason, you don’t have a title to your car or can’t seem to find it, you can get a duplicate copy through the mail or in person at either the Florida DMV or your local county tax collector’s office. You’ll have to fill out a form and pay a fee of about $75.
Are Title Loans Payday Loans?
Although they’re often confused, they are different. Payday loans are for short periods and usually require you to leave a post-dated check for payment or your bank account information. Title loans use your vehicle as collateral and are extended for longer periods.
Why Title Loans are so Popular
Title loans are popular because they’re easy, flexible and don’t go by your credit scores. They are ideal for people with poor or no credit. The biggest benefit is that you can get them quickly.