Title Loans in Ocoee: Your Best Option for Instant Cash
Life can take a weird turn and those weird turns sometimes lead you down a path where you need MONEY.
How do that in Ocoee, Florida? Why not try a car title loan?
Car title loans can give you a quick cash advance with few credit checks required and fast approvals.
Let’s show you how to get car title loans in Ocoee, Florida today!
Car Title Loans? What Are They?
Car title loans, also known as auto title loans or a title pawn, are loans where you use the car title as collateral in exchange for the loan. Your loan is secured by auto equity.
To put it in another way, the lenders will partly own your car and use that as collateral.
“That sounds a lot like pawning” The concepts sound similar enough that a car title loan is also sometimes called a title pawn. But there are differences.
With a car title loan, you maintain driving privileges with regard to your car while having the cash that you need at the same time. Car title loan companies don’t service student loans.
The lender can only take away your driving rights if you can’t pay off the loan.
Car Title Loans and Why You Should Get One
There are good reasons why you should ponder applying for car title loans in Florida.
Here are the different reasons why they’re special:
#1 Loan Payment Plan For You
Do you need funds to pay for emergencies?
Do you need it now?
Car title loans can be long-term. Car title loans in Florida are usually short-term but can be negotiated to have a long-term condition.
Are you able to repay earlier than you anticipated?
Borrowers can negotiate the terms so you can pay when you want. You can customize a plan that keeps your financial circumstances and when you can repay in mind.
#2 Immediate Cash
Do you need some cash pronto?
Ocoee car title loans can get you some fast cash. Approval will take no more than a business day in Orange County.
Loan processing in Florida can be as fast as getting same-day funding!
You don’t need to wait for a long time to see whether you qualify or not. If you need to borrow money right away, a title loan is a good idea.
#3 Minimal Credit Checks (For the Most Part)
Getting a usual bank loan approved in Florida needs a borrower to have a good credit score.
When applying for a car title loan in Florida with title loan companies, poor credit isn’t the biggest hindrance in the application process.
However, that doesn’t necessarily mean they don’t care.
Companies that offer car title loans in Ocoee, Florida, may obtain your financial info before you are approved.
A car title loan gives a way for those with bad credit history to get a loan.
But borrowers with a solid financial standing are more likely to get good deals or better interest rates from lenders than those with poor financial standing.
Required Documents for Car Title Loan Application
Requirements for each state may differ. Requirements may be different for Ocoee, Florida compared to Texas.
Contact your lender directly to determine what basic documents you need if you plan to visit your lender.
Requirements for the residents of Ocoee, Florida are as follows:
1. Valid Government Issued ID
In Ocoee, Florida you need to be at least 18 years old to avail of an auto title loan.
In order to prove that you are 18 or up, a valid ID is required when you request a loan in Florida.
You’ll then need to submit a government-issued ID, for example, a driver’s license, when you come in to apply for auto title loans in the city and state of Ocoee, FL.
2. Car Title
The vehicle title is a very important part of the car title loan process in Florida. If you want to take out title loans in Florida, you need to show the lenders that you actually own the car.
Along with the title, they may also ask for insurance papers during the application. It’s better to be safe than sorry so bring those along as well.
3. The Actual Vehicle
Along with the title, the actual car is very important as well.
Some lenders need to confirm the condition of your car and do a quick inspection of it.
Making your car look spotless and in top-notch shape is a good idea.
4. Proof of Income
Customers need to demonstrate ability to pay off the loan they make.
You may qualify for a loan even without proof of income, but in its place, you have to show that you have the money to repay it other than a steady source of money.
Documents that can replace employment earnings are:
- Bank statements
- Retirement checks
- Social security
- Disability payments
5. Show That You Reside In Ocoee, Florida
We are at the last requirement for a title loan in Florida.
You need to submit documents that prove that you currently live in Florida. Title loans are illegal in certain states and lenders need to know if it’s legal to give you a loan.
Here are some ways you can show you reside in Ocoee, FL:
- Lease agreement
- Phone bill
- Utility expenses documents
Ocoee Florida Title Loans: Step-by-Step Guide
Title loans in Ocoee, Florida should be easy to apply for. Follow the steps and procedures and you can qualify for a title loan in no time!
Below we’ll show you the step-by-step process:
Step 1: Fill Out Your Application
Fairly straightforward step: fill out the information they need.
Double-check the information you put in to see if they’re correct. Some lenders have an option to apply online so check if you can if that’s more convenient.
In this step, you can talk about the interest rates, pre-payment penalties, loan amount, and other fees you may be concerned about with the lender.
Step 2: Turn In Your Requirements
Let’s take another look at the requirements you would need in Ocoee, Florida.
Have these complete documents on hand:
- Identification documents
- Title for the vehicle
- The vehicle itself
- Proof of income
Once you’ve submitted the items, just wait for their approval and credit decisions.
The money you’ll get out of your loan will depend on the value of your car, what you discussed, and your capacity to repay the loan.
After you’ve given the requirements, you can move on to the next step.
Step 3: Collect the Cash
The part we’ve been waiting for: getting the money!
Assuming all goes well, you can now get your loan proceeds.
You can use the money for emergencies, household purposes, and paying a debt, it’s up to you.
Just be sure you can make payments and stick to the terms you discussed
Use your newly acquired cash wisely!
Are There Online Title Loans?
Certain title loan companies in Florida offer online title loans.
It will be way easier to apply online. You need to check with your specific lenders if they offer online services and fill up their online application form.
Here are the requirements:
- Auto Title
- Photos of the vehicle
- Photo of ID: Government-issued IDs like a driver’s license, passport, etc.
- Proof of income: Bank account statements, stubs, etc.
- Address of residence: Utility expenses, phone bill, house title, etc.
An online title loan is great if you want online instant cash as some offer a direct deposit on the same day.
Frequently Asked Questions
There are quite a lot of details you need to know about a title loan application in Florida.
Here are a number of frequently asked questions for Ocoee, Florida residents:
How Long Is the Processing?
It should take a business day to get your title loan in Ocoee, Florida.
You need to go through conditional approval and pending review but it shouldn’t take long.
The process should take only the same day to get your cash.
It also depends on whether you’re applying in person or through their website.
How Much Cash Can I Get?
With a vehicle title loan in Ocoee, Florida, the amount of money you can receive is dependent on the value of the car you use.
If you are approved, you can get a minimum loan amount of $2,500 for your loan proceeds in Florida. You can get more depending on a few factors like your auto equity.
Can I Use a Different Vehicle as Assurance?
You can actually use a different vehicle. Other people have actually used motorcycles for your assurance in Ocoee, Florida.
You can try to get other vehicles, such as boats, trucks, or maybe even planes.
You should however check with the lender you plan on getting your loans from if those are allowable vehicles.
You Can Now Get a Title Loan in Ocoee, Florida
You now know all you need to get a title loan in Ocoee, Florida today!
Just remember to be thorough about knowing the details of the payment, fees, pre-payment penalties, etc.
REMEMBER: Getting a title loan in Ocoee Florida is very easy to apply for however you need to remember to pay your loan off.
The next time you go to your lender, you’ll be well equipped with the information needed to ensure a successful process!