Car title loans in Miami are a popular choice if you need to get some fast money, all you need to have is a vehicle that has enough equity so that the car title loan company can help you.
It is important to choose a company that is licensed to do title loans in Miami, title loans can be expensive, which is why it is best to shop around or go to an established title loan company in Miami.
Title loans in Miami are regulated and you also need to find a company that is in compliance with the CFPB.
Auto Title Loans In Mami
The amount of money that you can qualify for is determined by the equity that you have in your vehicle, you will also have a longer repayment plan than a Payday loan, most car title loans are 24 months in length.
Title loans in Miami are an excellent way to get some fast emergency money, in most cases you can get same-day funding, but always make sure that you are getting the lowest interest rate.
There are plenty of car title loan companies all over Florida, but again choose wisely because it is easy to get into a title loan in Miami, but if you choose the wrong company it can be difficult to get out of it.
Do your research and choose the best car title loan company in Miami Florida. Make sure you choose a company that actually cares that you have the ability to repay the loan, so the company should check your monthly income.
Title Loan Process in Miami
While most car title loan companies have the same process and they all have very similar requirements, here are the most important things that all auto title loan companies in Miami will ask for:
All car title loan companies in Miami will require that you have a vehicle that has enough equity in it, as the car equity is the credit, the title loan company will go on the title as the lien holder.
Proof of income will be important, as the title loan company will need to verify that you have the ability to repay the loan, this is usually done through your pay stub.
Your proof of residence, the company will want to know that you have an established place to live, they will require a utility bill going to your home address, that is in your name.
You will need to provide your driver’s license as your identification, your title that will need to be in your name, and 5 personal references.
No Credit Check Title Loans In Miami
Not all companies will offer a no credit check title loan in Miami, but there are some companies that will offer them. You will need to have enough equity in your vehicle, and provide your proof of income, with that they will fund you.
With all Miami title loans, your car is your credit, so if you have bad credit, it will not prevent you from getting a title loan in Miami
Fast Miami Title Loans
Most title loan companies will fund within one business day, the process is fast, and that’s what makes title loans in Miami so popular, you can get the money that you need within a very short space of time.
There are some companies that will even offer same-day funding, the application will be filled out online, and the physical inspection of the vehicle and the signing of the contract will be done in the local office.
How Much Can You Borrow?
The amount of money that you can borrow, will all depend on the equity value that you have in your vehicle, the more wholesale value that you have, the more money that you can borrow, you can check out your car value here.
Car title loans in Miami can go up to $50,000, but most title loans are under $5,000, with an average loan amount of about $2,400.
Continue Driving Your Car
With car title loans unlike auto pawn, you will get to keep and continue to drive your vehicle, the only difference is that the title loan company will be the lien holder on your vehicle, and they will be holding your title. Once you have finished paying for your title loan, the title will be returned to you
Choosing The Right Miami Title Loan Company
It is important for you to choose the right Miami title loan company, you need to make sure that they are licensed in the state of Florida, and check out their reviews online.
It is important to choose a company that has the experience, and that is well established. Make sure that you shop around and find the best terms for you.
Find the company that will give you the amount of money that you need, and with a monthly payment that will work for you. Make sure that there are no prepayment penalties.
