Many residents of Jacksonville, FL will face some type of financial crisis at some point in their lives. Whether it’s an unexpected medical bill, a car repair, or something else, there are times when you may need money fast and don’t have the luxury of waiting around for traditional loans to come through. We all know that unsecured loans from a payday lender or credit union can be an option, but most of us don’t have the type of credit score required by banks or we’re looking for more than a few hundred dollars from a payday loan company. This is where title loans come in for people in Jacksonville who have a car with sufficient equity.
Car Title loans are a type of secured loan that uses the equity from your car as collateral. This means that you can get the money you need quickly, without having to go through a lengthy approval process. Because your car title is used as collateral, you can still get approved for a loan even if you have bad credit and most title loan companies in Jacksonville will offer much more for a secured loan with a paid off car title compared to an unsecured loan that has no security being put up.
Title Loan Lending Requirements In Jacksonville, FL
At Premier Title Loans, we make getting an online title loan in Jacksonville, FL fast and easy and we’ve simplified the main requirements for auto title loans. To be approved you will need the following:
–A clear car title that shows you as the only registered owner. You can’t owe any payments on the car and the vehicle’s title needs to be paid off. The majority of Jacksonville title loan companies will also require that you have the pink slip in your possession. To get a certified copy, you can visit any handful of FLHSMV Centers in Duval County and get your car’s title during that same visit.
–Proof that you have current employment and verification of your income. This can be in the form of a recent payment stub from your current employer or another type of document that details or verifies employment status and income.
–Your Driver’s License from the State of Florida or other state issued photo ID to verify your identity and place of residence.
–Provide a copy of your vehicle insurance which specifies full coverage on the vehicle. You also may need to show current vehicle registration and keep both the registration and car insurance payments current while the lender has the car’s title.
If you have all of the required documents listed above, you’re well on your way to getting the title loan in Jacksonville that you need! The final step is to bring your vehicle down to our convenient location for a quick inspection and then you’ll be able to sign the title loan contract and drive away with the cash you need in hand. The vehicle inspection doesn’t take long at all and most vehicle title loan lenders in Jacksonville can inspect the vehicle and review the lending documents with you in less than an hour.
Are Online Title Loans In Jacksonville, FL Possible With Bad Credit
Did you know that nearly everyone who applies for a vehicle equity loan has a bad credit score or simply has no recent credit history? This is because title loans are a type of secured loan, which means that your car title is being used as collateral for the loan. Because title loans are collateralized, bad credit is not always a deal breaker as it would be with an unsecured personal loan from a bank or credit union.
If you have bad credit and are looking for title loans in Jacksonville, you may still be approved provided that you own your vehicle outright and can provide proof of employment and income. You’ll also need to bring in the required documents listed above. At Premier Title Loans we specialize in getting our customers funded quickly, even if they have poor or no credit history at all! The good news with any type of secured loan is that creditors will look beyond a negative credit score and instead focus on what matters: how much equity your car is bringing to the table!
How Much Can I Get Approved For With A Florida Title Loan & What Are The Rates
The title loan amount that you’re approved for in Jacksonville, FL will be based on the value of your vehicle and your ability to repay the loan. The title loan amount can range anywhere from $500 to $5,000 and sometimes more depending on the worth of your car and your income. To find out the title loan value of a vehicle, the first step is to see what comparable cars are selling for in Duvall County. This will give you a good estimation of how much your car’s worth and what type of loan amount you’re able to get. On average you will see loan offers that are based on 40-70% of the vehicle’s equity. So if you have a car or truck that’s worth $15,000 you may be able to borrow upwards of $10,000
When it comes to title loan rates, they can vary quite a bit from one title loan lender to another but at Premier Title Loans we hope our applicants can get access to some of the most competitive rates in town! Find a title loan provider in Jacksonville that fully discloses their APR and other charges and stay away from those with a history of hidden fees or prepayment penalties.
Is There A Way To Get A Title Loan In Jacksonville Without A Job?
Although having a job is not required to get an auto title loan in Jacksonville it’s important that you have the means to pay off the loan and you will have to show some form of proof that you can make the expected monthly payments. This could be in the form of unemployment benefits, child support payments, disability income, social security payments, retirement income, or any other type of regular and consistent income from local companies. If you don’t have a job but do receive some kind of monthly benefits or pension payments, title loan lenders will likely consider this as well.
At Premier Title Loans we’re able to work with all types of applicants and can even get you approved for title loans with no job in just a few hours! We understand that there are many reasons why someone may not have a traditional 9-5 job and we’re here to help. As long as you have some form of consistent income coming in each month, you should still be eligible for title loans in Jacksonville. Contact our customer service team at any time of the day to see exactly how much you can borrow and what types of terms you’ll be looking at for car title loans in Jacksonville!