Title Loans South Miami, Florida

What do you do if you're in a financial jam and need cash fast. The question then becomes, what are title loans? Without title loans, many consumers in South Miami and throughout the state of Florida would have nowhere to turn to overcome short term financial hurdles. With a title loan, even consumers who are unemployed or who have no credit history can get a small, helpful loans when in times of need.

The only thing a consumer needs to take out title loans South Miami is a vehicle. The value of your vehicle takes precedence over your credit or employment history when it comes to title loans in Miami.

Title loans South Miami and the application process

It's very simple to take out a title loan in Miami with Amberjack Finance. We need you to fill out our application. After you do this, we can handle the rest!

On our application, we ask that you tell us a bit about your vehicle. We need to learn something about your vehicle so that we can determine what its value is. Because your vehicle is being held as collateral on the loan, its value is important. We need to evaluate your vehicle, then we'll decide how much we can offer and what term the loan will have. The more your vehicle is worth, the more we can lend you!

After we evaluate your vehicle and your application, we'll get back to you about how much we can offer you in a loan. Then, you can decide if you want to go through with the loan and send in your title if you choose to take out a loan with us.

The final step in the process is for the borrower to pay back the loan according to the loan agreement.

Title loans South Miami and state law

There are numerous state laws that apply to title loans in the state of Florida. This type of loan is limited in amount to only $500 in Florida. It's also important that individuals who borrow title loans in Florida are aware of the fact that the loan term is limited in the state. In Florida, the loan term on such a loan should be longer than seven days but not any more than 31 days.

Another thing regarding title loans that the state of Florida regulates is how much interest can be charged on a loan. In Florida, it's not allowed for lenders to charge an interest rate of any more than 30 percent.

Title loans South Miami and advantages

If you're looking for the perfect title loan product, you should be aware of the advantages of taking out a title loan with Amberjack Finance. The following are five of the major advantages of this option:

  • Credit score- Anybody can be approved for a title loan if they have a vehicle. This type of loan product is not exclusive in that it is offered to those with low credit scores. It's even offered to those who have no credit scores and no credit record. Getting a high credit rating takes time. It's also more difficult at times when the economy is in recession. With a title loan, this difficult to achieve credential is not required.
  • Employment- For a traditional loan, employment is necessary. This is not the case with a title loan. That means that even if you don't have a job, you can be approved.
  • Application- The application is easy to fill out and can be completed in only a few minutes.
  • Repayment- Repayment terms are flexible and affordable.
  • Vehicle- A vehicle used for a title loan can still be driven.