5 Star Car Title Loans In Tampa, Florida
In America, when it comes to planning your expenses, barely any plan works. Every month the bills fluctuate, and a new expense shows up – school clothes, home repairs, garden redecoration, a medical injury, and many more.
With this much uncertainty in the cost of living and limited income, living comfortably and getting by the month becomes real hard.
Luckily, companies like 5 Star Car Title Loans can help you get some short-term loan funding (such as Auto Title Loans) in Tampa to get some quick cash 2and tackle these sudden bills.
Let’s know further about the personal loan and how you can get some quick money2 with it.
What is an Auto Title Loan, and How Does It Work?
Auto title loans or vehicle equity loans are short-term personal loans intended primarily to help people meet their sudden cash needs and use them for personal and household purposes.1
These loans are also referred to by other names such as pink slip loan, automobile equity loan, or just title loan.
In an auto title loan, the car title is used as collateral to finance a person and avail him of money to cover his emergency funds.1
How do Tampa Title Loans work?
Getting title loans in Tampa, FL, requires you to have a car with a lien-free title to be used as collateral and a reliable income source with which you can repay the title loan amount in time.1
You start by contacting a licensed lender and checking your loan eligibility. Once you are pre-approved, the lender will ask you to submit some basic documents and draft a detailed loan agreement.1
Once you both agree on details such as annual percentage rate, minimum loan amount, etc., and sign the contract.1 You can expect the loan proceeds in your bank account within a short period of time.2
With 5 Star Car Title Loans, you can save a lot more time by applying for a title loan online1 and getting access to quick cash to cover your emergency funding.2
Why do Many Tampa, FL Residents Prefer To Get a Title Loan For Their Personal Needs?
- The simple and straightforward process allows them to get approved easily and quickly(sometimes within one business day).2
- Looser credit qualifications make it possible for people with bad credit(or those currently facing credit difficulties) easily get themselves fast money.1
How Easy Is It To Get Car Title Loans In Tampa, Florida?
Title loans are known for their simplified, and easy application process and relaxed credit criteria that helps people (even with low credit score) get themselves some fast money2 and pay for their unexpected bills.1
What Do I Need To Get Approved For A Car Title Loan In Tampa, Florida?
To be eligible for title loans in Tampa, FL, one must:
- Have a car with a lien-free title to their name.
- Must be 18 years old or older.
- Have a government or Florida-issued ID.1
- Have a source of reliable income to return the payments on time.
Steps For Getting Title loans in Tampa, FL
Step 1: Call (888) 309 0994 and Know Your Loan Eligibility.1
Step 2: Easily Apply Online By Filling Basic Details1
Step 3:Submit Requested Documents and Photographs Of Your Vehicle.1
Step 4: Sign The Contract and Receive Money In Your Bank Account.1
What Documents Are Needed To Get A Title Loan In Tampa, FL?
Unlike other bank and payday loans, car title loans only require you to have some basic documentation in order to be eligible and get a personal loan.1
During the loan application process, most lenders require you to provide with:
Car’s Title
The car title is used as collateral to secure the loan and get the person some fast cash.1Hence, it’s important that the person applying for a title loan must have a lien-free title.
Proof Of Income
Employed people can present pay stubs and bank statement as evidence of reliable income. While retired and unemployed individuals can show compensation letters or SSI and get themselves some emergency funding.
Proof Of Address
People who live in Tampa, Florida, would be required to provide some documented evidence proving the residentship.1
Rental agreements, property tax receipts, and credit card bills can work as proof of your permanent address.
Proof Of Identity
To get a car title loan in Tampa, FL, an individual must have a Govt or State-issued ID verifying their identity as a state citizen.1
Usually, a driver’s license or passport can be used to prove your identity.
Photographs Of The Vehicle
Lenders in Tampa, FL, determine loan amounts and interest rates based on the vehicle’s condition and market value. Thus, you will also be asked to submit the latest pictures of your vehicle.
Are Car Title Loans In Tampa, Florida, Based On Credit?
While some lenders might perform a routine credit check, the credit score is not the only deciding factor in getting a title loan. 1Here are some factors that play a big role in deciding how much cash you’re going to get and what will be the interest rate of the title loan.1
Source Of Income1
Unlike other credit loans, title loans are based on the person’s ability to repay the loan amount. Having a secure and reliable income source can help you to prove your repaying ability and secure large amounts of money fast2.
Value Of the Vehicle1
In Tampa, Florida, while evaluating a loan request, the condition of the car and its market value directly impact the interest rates and repayment terms of the title loan.
A well-maintained car of newer make, model and brand will help you get more cash as compared to an older one.
Equity In The Vehicle1
In a title loan, funds are secured against the equity in the vehicle. Thus, if you want to avail more money, make sure you have a good amount of equity in your car.
Where Can I Use The Title Loan Amount?
Title Loans are specifically designed to meet the short-term financial needs of an individual without having him go through the lengthy loan process of banks and other financial institutions.1
These short-term loans are primarily intended to be used for personal or household purposes. The cash can be used to plan a special occasion, pay monthly bills, or tackle unexpected expenses.1
Most common uses of car title loans in Tampa, Florida:
- Home Improvements
- Medical Emergencies
- Vacation or Trip
- Seasonal Expenses
- Birthday or Anniversary Parties
- Legal Expenses
Can I Get a Title Loan Without a Traditional Job?
Yes, You can!
We understand that people these days have multiple sources of income and prefer to work outside of a 9-5 job. Thus under certain situations, you may be able to get yourself a title loan without having a traditional job.1
Situations Where You Can Get Title Loan Without a Traditional Job1
Alternate Source of Income
To be approved for title lending, you need to prove your repaying ability. If you receive passive income, have investments, or have enough saved up in your bank account, you can apply for an auto equity loan without having a 9-5 job.
Compensation
If you recently had some sort of accident or are a retired individual, you can show your bank statements, compensation letter, or SSI and benefit from an auto equity loan in Tampa, FL.
How Does The Title Loan Repayment Work in Tampa, Florida?
At 5 Star Car Title Loans, our team strives to provide excellent customer service and keep the title loan process easy and convenient for all our consumers.
Along with providing fast title loans in Tampa,2 we have kept the repayment process as simple as possible so that no one faces unnecessary issues while completing their loan payments.4
People can opt to pay all of the amounts in one lump sum or break it down into smaller installments at their convenience.1
We also support multiple payment options where people can choose their preferred method and repay accordingly.
Repayment Options For Loan Repayment At 5 Star Car Title Loans In Tampa
- Money Gram Wire Transfer
- Online Payment Applications
- Credit/Debit Cards
- By Mailing Check
Can I get A Title Loan Against My Car If It’s on Finance?
Yes!
To get approved for a car title loan in Tampa, FL, a person needs to demonstrate a strong ability to pay back the loan and have a good amount of equity in their vehicle.1
Even if you are financing your car, there’s a chance that you own a decent amount of equity in it. You can take the help of a loan officer to find out how much equity you own and accordingly lease your car title to secure your personal loan.
Are There Any Prepayment Penalties on Title Loans in Tampa, FL?
We at 5 Star understand the need and urge to get out of debt as soon as possible. Therefore, we keep our title loan process simpler and smoother and charge no hidden fees or any sort of prepayment penalty for making earlier payments.4
Will My Car Be Taken From Me?
Not Necessarily!
In title loans, the borrower gives their car title to the lender in exchange for getting money in their account.1
As the loan is secured against the title, you don’t have to submit your car while paying back the loan.1
Only in case of payment failure, the loan company can legally take your car, but as long as you pay the installments on time, you won’t have to worry about your car being taken from you.4
Benefits of Choosing 5 Star Car Title Loans in Tampa, FL
We at our company focus on enhancing the customer experience and helping you avail easy and quick cash for all your sudden needs.2
Here are some benefits and perks you will get when you opt to get a title loan from 5 Star Car Title Loans in Tampa, FL.
Easy Application Process
With 5 Star Car Title Loans, you don’t have to go through unnecessary hassles to get yourself some extra money. Just go to our website and fill out a simple online form, and we’ll be in touch to assist you in your title loan application.1
Instant Cash
The 5 Star team understands your sudden cash and works hard to complete the application process as quickly as possible and send you some extra cash.2
No Hidden Fees Or Prepayment Penalties
We believe in keeping the whole lending process as transparent as it can be and charge no hidden fees or penalties for earlier payments.4
Financing For Bad Credit
Our eligibility conditions are not entirely dependent on your credit history. We consider multiple factors, and people with poor credit scores can get cash advance loans from 5 Star Car Title Loans.1
Flexible Loan Repayment Options
At 5 Star Car Title Loans, you can pay back the loan in monthly installments in various modes without any hassles or inconvenience.1
Apply For An Auto Title Today And Get Some Quick Cash In Tampa, FL
If you are facing a financial crunch or have some big event coming up in the upcoming days, you can get yourself some extra money by taking the help of 5 Star Car Title Loans.
Just contact our team at (888) 309 0994, and they will answer all your queries and help you get a title loan in Tampa, FL.
