You're in a financial situation and you need cash fast. It's easy to see why many Florida consumers take advantage of title loans Miami Springs each year. This type of alternative loan product is convenient and simple. It's also available to just about anyone who owns a vehicle.
The following is some important information consumers who are interested in taking out a loan should be aware of:
The process of taking out title loans in Miami Springs is surprisingly simple. With Amberjack Finance, there is a short online application that a prospective borrower can fill out in only a few minutes. The ease of the title loan process is one of the biggest advantages it offers.
On our Amberjack Finance online application, applicants must tell us something about their vehicles. We need to know about the vehicle that will be held as collateral. Applicants need to tell us what the make and model of their vehicle are. Also, we need to know how many miles the vehicle in question has on it.
We quickly make a decision about all the applications we receive so that applicants aren't left wondering whether they'll be approved or not. After we decide, we'll send a response to the applicant. If we're offering a loan, we'll send the loan details in this response.
The next step is for the consumer to agree with the terms we offer and then send us their title. We need to borrower's vehicle title before we can send out loan funds.
The last step in the process is for the borrower to pay back the loan according to the loan terms.
As in most states, there are many state laws in Florida regulating title loans in Miami and throughout the state. In Florida, state law regulates how much the maximum title loan amount can be in Florida. The state doesn't allow a loan of more than $500 with a title held as collateral.
Other regulations in Florida is that the loan term in Florida is limited at no more than 31 days and no less than 7 days. Also, in Florida the maximum interest rate on a loan is limited to only 30 percent.
Consumers in Florida choose to take at title loans Miami Springs for a variety of different reasons. This type of alternative lending product offers the following five advantages: