Car title loans in Miami are a popular choice if you need to get some quick cash, all you need is a vehicle that has enough equity for the car title loan company can help you.
It’s important to choose a company licensed to do title loans in Miami, title loans can be expensive, so it’s best to shop around or go to an established title loan company in Miami.
Securities lending in Miami is regulated and you must also find a company that complies with the CFPB.
Automatic securities lending to Mami
The amount of money you can qualify for is determined by the equity you have in your vehicle, you will also have a longer repayment plan than a payday loan, most car title loans last 24 months.
There are many car title loan companies throughout Florida but again choose wisely as it is easy to get a title loan in Miami but if you choose the wrong company it can be difficult to make it out.
Do your research and choose the best car title lending company in miami florida. Be sure to choose a company that actually cares about your ability to repay the loan, so the company should verify your monthly income.
Miami Title Lending Process
While most auto title lending companies have the same process and they all have very similar requirements, here are the most important things that all auto title lending companies in Miami will ask for:
All car title lenders in Miami will require you to have a vehicle that has sufficient equity, since the capital of the car is credit, the title lender will go over the title as the lien holder .
Proof of income will be important as the title lending 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 of residence, they will require an electricity bill to your home, ie in your name.
You will need to provide your driver’s license as identification, your title which must 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 some companies will. You will need to have enough equity in your vehicle and provide your proof of income, which they will finance you with.
With all Miami title loans, your car is your credit, so if you have bad credit, that won’t stop you from getting a Miami title loan.
Miami Fast Title Loans
More securities lending 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 you need in a very short time.
Some companies will even offer same day financing, the application will be completed online, and the physical inspection of the vehicle and signing of the contract will take place at the local office.
How much can you borrow?
The amount of money you can borrow will depend on how much equity you have in your vehicle, the more wholesale value you have, the more money you can borrow, you can consult your car value here.
Car title loans in Miami can be up to $50,000, but most title loans are under $5,000, with the average being around $2,400.
Keep driving your car
With car title loans, unlike the auto pawn, you will be able 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 hold your title. Once you have finished paying your title loan, the title will be returned to you
Choosing the Right Title Lending Company in Miami
It is important for you to choose the right Miami title lending company, you need to make sure they are licensed in the state of Floridaand check out their reviews online.
It is important to choose a company that has experience and is well established. Be sure to shop around and find the best deal for you.
Find the company that will give you the amount of money you need, and with a monthly payment that will work for you. Make sure there are no prepayment penalties.