Title Loans Miami Springs, Florida

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:

Title loans: Title loan application process

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.

Title loans Miami Springs: State law and Florida title loans

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.

Advantages of Title Loans in Miami Springs, FL

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:

  • It doesn't require a good credit score- Consumers without any credit history can be approved for a title loan. Also, consumers with a low credit score can also be approved. This is a huge benefit to many consumers who have trouble being approved for any kind of traditional financing product. Consumers can rest assured that, as long as they have a vehicle that is worth enough, they can be approved for a title loan in Florida with.
  • Vehicle can multitask- A vehicle can offer collateral and transportation at once with a title loan. The lender will take possession of the vehicle title, but the borrower is free to continue using the vehicle.
  • It doesn't require employment- An unemployed individual can be approved for a title loan provided that he or she has a qualifying vehicle.
  • Loans are paid back fast- Loan amounts are kept small with title loans because this makes it easy for borrowers to pay loans back quickly.
  • Convenience factor- Much of the process of taking out a title loan can be handled online. This maximizes convenience and speed.