Who Should Consider A Title Loan?

Jun 24, 2021
Title Loans


Emergencies and repairs are usually unplanned and completely unexpected. That can leave you vulnerable to unpaid debt, or it could prevent you from getting the help you need. When you need fast cash and your paycheck isn't for another two weeks, or it won't cover the cost of your expense, a title loan could be your solution.

 

What Is A Title Loan?

Think about it like a pawn shop, but for cars. You can keep driving your car for the entire time of the title loan, but the lender will place a lien against your automobile. The loan process is typically swift, and you can have the money in hand in a short amount of time.

In order to benefit from this type of loan, you have to have equity in your car or own it outright. If you're leasing your vehicle, you will not be able to utilize this loan. If you have a truck, this loan can also benefit you! Again, you just have to own or have equity in your vehicle.

Loans with Rapid Auto Loans are paid back in 12 monthly payments. This is unlike competitors who typically offer 30-day title loans. Rapid Auto gives customers flexibility when it comes to repayment of the loan.

 

Pros Of This Loan

You get the cash quickly! So, if you need to pay for a medical procedure or last-minute expense, this is the best loan for you. The approval process is extremely short, and to the point, so you won't be biting your nails waiting around for the approval. Most of the time, you'll leave the lender with the money in hand.

Your job is to prove that you have a steady income, and your car is entirely in your name. Our company's job is to get you your cash fast. We know that if you're interested in this loan, time is of the essence.

 

Another benefit of this loan is that you can use your car while paying the loan back. No one will take your vehicle from you unless you don't pay the loan on time. This feature is what makes this one of the most convenient loans available.

 

The Risks Of This Loan

Every loan comes with a certain amount of risk, and in this case, the risk is losing your car. Failure to pay the loan back will result in the lender repossessing your vehicle. Of course, no one wants that to happen, but it is a genuine possibility if you don't pay the loan back

You will also pay a higher amount of money in fees for this loan as opposed to a typical loan. Due to this loan's fast and off-the-cuff nature, the lender will cover their costs with higher fees. The amount is typically 25% of the loan, so if you borrow $2,000, you'll owe around $2,500 for the loan. Due to the fast turnaround of this loan, you should only get a title loan if you know you will be able to pay back the total amount in that short amount of time.

 

Car Title Loans In Florida

When you need a title loan, look to the lenders at Rapid Auto Loans. Regardless of whether you have good credit, bad credit, or no credit at all, you can be eligible for this loan. Call us today at 954-960-7099 or apply for a car title loan online to discover if you're eligible. We look forward to helping you through this process.

Rapid Auto Loans is a consumer finance company licensed under Florida 516. The term title loan is used for marketing purposes only.

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Can I Get A Title Loan With An Older Car?

Many people applying for auto title loans have the same question: Can I get a title loan with an older car? With Rapid Auto Loans, the short answer is, yes! Why should you be penalized because you don’t drive a newer car? But there are some considerations to be aware of. Here’s how you can qualify for an auto title loan.

Are Title Loan Companies Trustworthy?

Auto title loans are a quick way to get that much-needed cash. But how do you know if they’re trustworthy? What if you’re getting involved with a scam? The good news is that there are trustworthy title loan companies out there. But you need to know what to look for. 

Rapid Auto Loans Favorite Money Saving Internet Tools

With the rising costs of food, fuel, rent, and even home prices, finding ways to save money is imperative for most Americans. Online shopping is one way that you can save money on things that you need and are already going to buy. Money-saving browser extensions can help you find promo codes, coupons, or cashback offers that make that next Amazon order a steal of a deal. This savings along with the help of Rapid Auto Loans can be used to help you pay for other bills you may have piling up.

Personal Loans vs. A Car Title Loan

Sometimes, the money that we need isn’t always available. Whether you need to pay for unexpected medical bills, plan a wedding, or even make rent, there are various financing options available. In most instances, personal loans require a decent credit score and lengthy paperwork. In comparison, car title loans work differently, allowing for fast approval and no credit check.

Getting A Loan With No Credit

You can never be too prepared, but sometimes life can throw a massive curveball your way. We’re living in an era where your credit score affects how far you can go in life. It’s easy if you can afford the basic cost of living and there are no unexpected surprises. Except sometimes you’ll be hit with an expense that you weren’t prepared for. It could be something small and an easy fix if dealt with immediately.

It's The Season of Giving; Do You Need Quick Cash?

Car title loans give you quick cash when you’re having trouble financing Christmas or Hanukkah gifts this holiday season. These loans use the value of your vehicle as collateral for your loan. Ultimately, car title loans can also help you stay current with your bills.

Rapid Auto Loans is a consumer finance company licensed under Florida 516. The term title loan is used for marketing purposes only.
All loans have a repayment period of 12 months and there is no minimum prepayment penalty. Interest Rates are determined and approved by the State of Florida based on the borrowed amount and the maximum APR (which includes interest rate plus fees and other costs for a year) is 30%. You pay interest only for the time your loan is outstanding. Below is a representative example of the total cost of the loan, including all applicable fees:
3,233.68

APPROVED LOAN AMOUNT

0.00

Government Fee

25.00

Credit investigative Fee

11.55

Documentary Stamp Tax

3,270.23

Total amount Financed

11/1/2016

Original Loan Date

29.07%

APR

316.39

Monthly Payment (x12)

Rapid Auto uses “Auto Title Loans” for advertisement purposes only and provides auto equity loans. The lenders are licensed under the “Florida Consumer Finance Act” under Florida Statute 516 and as such lenders loans is exempt from any licensing requirements under the “Florida Title Loan Act” to the extent that any of lenders activities involve the making of a loan of money to a consumer secured by bailment of a certificate of title to a motor vehicle.