Car Title Loans in Cocoa Beach, FL
5 Star Car Title Loans in Cocoa Beach, FL
Cocoa Beach Florida has a splendid view of the ocean. While the residents enjoy the serene surroundings, the inevitable financial emergencies loom. And to tackle such situations, you need emergency funds which, sadly, a lot of Americans lack.
Therefore, people borrow money in the form of favors or traditional bank loans. Although bank loans are famous, they are hard to get for some people (due to long waiting times and strict credit criteria). So, people who wish to get money on short notice usually look for short-term loan options.
And one such alternative is getting an auto title loan. In the wake of this, 5 Star Car Title Loans presents flexible and affordable title loans that can assist you in getting access to instant cash.2
What are Title Loans?
Auto title loans, otherwise known as pink slip loans, vehicle title loans, or vehicle equity loans, are short-term loans that use the borrower’s vehicle title as collateral. Since they use collateral, they fall under the category of secured loans.1
How Do Car Title Loans Work?
Title loans have a straightforward working model that starts with the borrower applying for a loan. Although it is not the only condition, the borrower must have a vehicle title in his name to apply for a loan.1
Once the borrower applies, the lender checks the eligibility of the borrower. If the borrower qualifies, the lender puts a lien on the car title and lends money in exchange. The borrower can take the money as well as the car with him but he has to pay the loan in installments.1
After complete payment of the whole loan amount (and the interest rate), the lender removes his name from the title and the borrower becomes the sole owner, once again.1
Important Documents For Getting a Car Title Loan in Cocoa Beach
Some documents have been marked as essential under Florida title loan laws implying that anyone who wants to get a title loan in Florida, must have those documents ready. The list of those documents includes:1
A clear vehicle title
You must have a clear vehicle title in your name with no liens on it. In short, you must be the sole vehicle owner.
Income proof can be your bank statements, pay stubs, tax returns, compensation letters, etc. Usually, those who offer title loans need an official record that you have a steady income.
Either share your utility bills or mortgage agreements as proof of residence. Alternatively, you can also use rental/lease agreements or mails received (with your address on them).
Latest Photos of Your Car
Some latest photos of your car from different angles will be required. The photos must cover all the angles, VIN as well odometer readings of the vehicle.
A Valid Government-issued ID
Your driver’s license, your passport, or any other government-issued ID with your photo on it will work.
Can I Get Cocoa Beach Title Loans Even if I Do Not Have a Bank Account?
Having a bank account is not one of the prerequisites. A bank account is only needed to either receive the loan amount or to repay it. Since in the present times there are various title loan services offering other methods through which the loan can be received or repaid, the presence or absence of a checking account hardly matters.
You can easily qualify and get a car title loan even if you do not have an account in your name. To receive the money, you can get a mailed check or collect cash from a participating location. As far as loan repayment is concerned, you can make the monthly payments by:
- MoneyGram wire transfers
- Cash at payment stores
- A mailed check
- Through phone
- Online payment
Can I Qualify for a Title Loan Even With a Bad Credit?
Unlike a traditional bank loan, the eligibility for payday loans and car title loans does not get impacted by bad credit history. So, people with bad credit might qualify for a title loan.1
Usually, a title loan does not require a credit check, there are some cases when a routine credit check is performed. No matter what the case is, if you have a car with adequate equity in it and can demonstrate a strong ability to repay the loan, you can certainly get a loan.1
Can I Keep Driving My Car After I Receive Approval for a Vehicle Title Loan?
Yes, you can keep driving your car.
5 Star Car Title Loans do not require the customers to submit the keys or the car. As long as you pay your loan installments on time, you can continue driving your car.
How Do I Apply for Car Title Loans in Cocoa Beach Florida
You can now apply online and fill out the online application form on the website of 5 Star Car Title Loans. With the option of online title loans, there will be no long queues or paperwork or long waiting hours! Just three short steps and you can collect your money!1
Start by Applying Online
Initiate the process by visiting the official website and filling out a loan application form. You will be asked to share your name, address, income, car details, and phone number. This information will be used to check your eligibility for the loan.1
Or you can just call us and a loan agent will guide you through the eligibility criteria.1
Share Some Documents for Verification
If you qualify, you will receive a pre-approval. However, the final approval will depend on the pending review of the documents. Therefore, you will be notified to share those essential documents. Our team will verify the information. After that, you will receive final approval.1
Collect your Funds
Followed by the loan approval, you will be presented with a loan agreement. The agreement will contain details such as the minimum loan amount, title loan interest rates, Annual Percentage Rate (APR), payment plan, etc.1
We encourage our consumers to read each detail carefully and in case of doubts, feel free to ask questions. Make sure to check and confirm the information before signing. Once you have gone through the agreement, you can sign it and receive the money in one business day.2
Is My Personal Information Safe With 5 Star Car Title Loans?
We have a safe database that is not open to any third or foreign party. Your information is safe with us. At 5 Star Car Title Loans, the personal information of the customers is only used to complete the process of title loans.
Once the process gets completed, the files are deleted.
Where Can I Use Money From Title Loans?
Any emergency, on top of your regular bills and payments, can be a lot to deal with in one go. This is where title loans pitch in. You can use the loan proceeds to cover:1
- Home repairs
- Funeral expenses
- Legal expenses
- Car maintenance and repairs
- Medical expenses
- Debt relief
- Veterinary expenses
How Can I Receive Car Title Loans?
The modern era has seen a sharp rise in digital methods. From day-to-day transactions to monthly dues, we can now settle everything in just one go–digitally.
Hence, 5 Star Car Title Loans offers a mix of online and offline methods through which the borrowers can receive their funds. Based on your comfort, you can now collect money in the form of:
- Direct deposit to your bank account
- Mailed check
Will My Vehicle Qualify for Title Loans if It is Older?
A qualifying vehicle is one that has adequate equity left in it. Even if your vehicle is a little older, it will still have some equity left in it. However, for your vehicle to qualify for a loan, it must have sufficient equity.1
Naturally, you will be given the full details about your vehicle and eligibility if you apply for a title loan. In case, you want to know about your vehicle qualification, you can check it on our online loan calculator using the following details:
- The Odometer Readings (Mileage On it)
- The Condition of the Vehicle
- The Car Type
- The Make & Model Of The Car
- Any Repairs Done To It
Can I Qualify for a Car Title Loan in Florida if the Title is Not in My Name?
Not having a title loan in your name is a major obstacle; you cannot get a title loan without it. A clear title is among the basic requirements and hence, you need to meet those requirements to qualify for auto title loans in Cocoa Beach, FL.1
Luckily, you can get the title transferred in your name by visiting Florida Highway Safety and Motor Vehicles (FHSMV). There is a simple process with which you can get your title transferred to your name.
- Fill a Title Transfer Request Form: You can either fill the title request form online or at the Florida HSMV. If you have filled the form online, you will be required to bring it along during your visit to the office.
- Bring the Essential Documents: Along the request form, you need to carry your driver’s license as well as your vehicle’s registration on your trip to Florida HSMV.
- Make Payment: Submit the documents for verification and make the payment (by cash) to complete the process.
Once your title gets transferred in your name, you will be notified. After that, you can easily apply and qualify for a car title loan.1
Title Loans Advantages With 5 Star Car Title Loans
Title loans are some of the most affordable and quick cash options for the people of Cocoa Beach, FL. Apart from being a convenient alternative, you are likely to witness other advantages too. Some of them are mentioned hereafter:
- Competitive interest rates1
- No hidden fees or prepayment penalties4
- Looser credit qualification1
- Immediate assistance
- Completely online process1
- Easy online application1
Apply for a Title Loan and Get Instant Cash!
There is a highly likely chance of us all facing a sudden bill or an emergency. To deal with such a situation, having extra cash becomes essential. Therefore, if you are facing the same challenges, you can apply for a car title loan in Cocoa Beach, Florida right now and get money on short notice!2
Go ahead and apply online right now!1