Why an Auto Equity Loan Might Be the Right Choice for You

If you have found yourself in a situation in which you are simply trying to make it from paycheck to paycheck, you should not feel as though you are alone. Many people in Tampa and the surrounding area experience the same type of situation. When you are living paycheck to paycheck, even one extra expense can spell disaster. If you do not have any other resources for cash, you might wonder where you can turn. By applying for title loans Tampa residents can tap into the equity in their vehicles to obtain the cash they need and pay it back with flexible repayment terms.

Applying for a bank loan can be a cumbersome process. The application process itself can take a significant amount of time and involve completing a mound of paperwork. When you are facing a financial emergency, time is of the essence. You certainly do not have a lot of time for filling out lengthy applications. On top of that, you usually must wait a week or more to find out whether your application has been approved. In a true emergency, that can be a hassle. Furthermore, if you have bad credit, your application will likely be rejected. You could also be rejected for a bank loan if you do not have the required collateral.

When applying for an auto equity loan with us, you do not have to worry about any of this. Your loan application is based on your ability to provide a lien-free title as collateral for your loan rather than your credit score. This allows you to borrow money much faster and easier than with a bank.

To get started applying for an auto equity loan with us, just complete the required form located on the Apply Form section of our website. All you need to get started is some information about your vehicle in addition to your contact information.

You can complete this form online whenever it is convenient for you. After the required information has been submitted, we will give you a free loan estimate. The amount of your loan will be determined by the current value of your vehicle. We will make arrangements for you to speak to one of our professional loan representatives to discuss the rest of the process. You can then ask any questions you might have about your loan.

One of the concerns many people have about taking out an auto equity loan is whether they will need to give up their vehicle. This is not the case. You will need to turn over the title to your vehicle, as it will serve as security for your loan, but you will be able to maintain possession of your vehicle throughout the loan as long as the loan payments are made on time.

When applying for an auto equity loan, you should be aware of requirements that pertain to such loans under Florida state law. You must be at least 18 years of age to qualify for an auto equity loan in Florida. Also, you must be the legal owner of the vehicle you will be pledging as collateral for the auto equity loan.

Benefits of Auto Equity Loans

We believe it is important for you to be well informed about auto equity loans in order to determine whether this type of loan is right for your situation. First, you should understand that these types of loans are not designed to be long term loans but rather short term loans. Most people who take out a title loan do so because they are facing a short-term cash flow problem and need to borrow money to rectify that problem. An example would be when you have an unexpected expense or when your bank account is overdrawn and you need to avoid the resulting overdraft fees. You will be responsible for the finance charges related to the loan. These fees are quite competitive and may often be less than the expenses you are facing if you do not come up with the money you need.

You can maintain complete privacy when applying for an auto equity loan with us. You will never need to tell us why you need to borrow money, although some of the most common reasons include:

  • Utility bills
  • School debt
  • Vacation
  • Auto repairs
  • Textbooks
  • Medical bills
  • Rent or mortgage payment
  • Credit card debt
  • Bail money
  • Veterinary expenses
  • Lawyer fees
  • Funeral expenses
  • Wedding costs
  • Prescriptions
  • Bank overdraft fees