5 Star Car Title Loans in Clearwater, FL
Whether you have a trip planned or wish to get your house renovated, you will need extra cash to cover those expenses. Usually, with a month’s salary, covering additional costs gets difficult.
Fortunately, Clearwater residents can choose short-term loan options to get hands-on quick cash with which it can become easier to bear such costs. Therefore, 5 Star Car Title Loans offers affordable car title loans for locals of Clearwater.1
These title loans can help you in getting quick funding which can be used to cover a range of personal as well as household expenses. Let’s learn more about these easy, fast and reliable loan options.1
What are Auto Title Loans?
Car title loans are short-term loan options that are secured against collateral. The collateral here is the borrower’s car title. Title loans can be used to get emergency money to pay for different expenses.1
How do Title Loans in Florida Work?
The process of these secured loans is quite easy and usually starts with a borrower applying for a title loan, followed by a short eligibility check. If the applicant qualifies, the lender puts a lien on the vehicle title and gives the money in exchange.1
The borrower can keep the money as well as the car with one condition: making the monthly payments on time. Once the complete loan amount is returned, the lien is removed and the borrower gets a clean title back in his name.1
There are some other names for title loans. These include:
- Auto title loans
- Car title pawns
- Pink slip loans
- Auto equity loans
- Vehicle equity loans
- Vehicle title loans
What Documents Do Florida Residents Need to Get Approved for an Auto Title Loan?
There is a short yet important list of all the documents that one needs to have while applying for a title loan in Clearwater Florida. Although there are no unnecessary requirements, the applicants must have these documents:1
Car Title
A car title in the name of the borrower without any liens is one of the prerequisites.
Proof Of Income
The applicant must have a source of income and to prove that, he will be required to share pay stubs, previous bank statements and tax forms, etc. All those who receive a pension or any other compensation have the liberty to share their compensation letter or SSI along with their bank statement.
Proof of Address
Your utility bills such as credit card bills, water, or electricity bills can be shared to give residence proof. You can also share your rental/mortgage/lease agreement to show your address.
A Valid Government Issued Photo-ID
A driver’s license or Florida-issued State-ID will be sufficient. However, if you want, a passport can also be used as identification proof.1
Multiple Photos Of the Car
Click some latest pictures of your car from multiple angles including VIN and odometer reading. This will help in dodging the in-person inspection.
Can I Still Apply for Auto Title Loans in Florida with Bad Credit?
While applying for a loan, applicants get worried about poor credit scores and often seek credit counseling to improve their scores. Well, with title loans, you will have to do neither.1
One amazing thing about title loans is that, unlike traditional bank loans, your credit history is not much of a concern. Therefore, you may qualify for a title loan even with a poor credit history.1
Although credit history is not important, there can be some cases when a credit check is required. Hence, we cannot fully rule out the possibility that a credit check will be required.1
However, these are soft credit checks that do not affect your credit scores or your qualification. As long as you have good market & equity value in your car and can demonstrate strong repaying ability, you can get a title loan even with poor credit scores.1
How Do I Apply for Online Title Loans in Florida?
5 Star Car Title Loans has created a quick and easy way using which you can apply for a car title loan in Clearwater. There are only three short steps that can be completed while sitting back at home on your couch! Start by visiting our official website and then:1
Apply Online
To start with the title loan process, you first need to check whether you are eligible or not. And to do so, you can fill out an online loan application or give us a call at (888) 309 0994. A loan agent will let you know if you are eligible.1
Submit The Requested Documents
The information obtained in the first step will help you in getting conditional approval. After that, you will be required to submit some important documents for verification and receive the final approval.1
You can either mail the documents or upload the scanned copies. The sooner you turn in those papers, the faster you will get the final loan approval.1
Final Verification and Approval
After receiving your documents, we will verify the information and if it checks out, you will be given rough estimates of minimum loan amounts, interest rates, Annual Percentage Rate (APR), payment plan, etc.1
You must go through the details before signing the contract and should ask questions in case of doubts. After complete confirmation of the details, you can sign the contract.
You can receive the money either in your bank account or via any other method of your choosing.1
What are the Various Methods to Receive Title Loan Money?
Customer satisfaction has become one of the top priorities for major title loan lending companies, various lending partners, and 5 Star Car Title Loans. We offer a wide range of easy methods through which you can receive your money. These options include:
- By check in the mail
- Direct deposit to your account
- Pick up at any participating store
Simple Ways To Repay Clearwater Title Loans
5 Star Car Title Loans extends various alternatives when it comes to loan repayment. The borrowers can either repay the whole amount in one go or they can choose to pay in installments. Furthermore, they can pick the befitting option to make the payments.
Repayment Options For Title Loan Repayment In Clearwater, Florida
- Money Gram Wire Transfer
- Online Payment Applications
- Credit/Debit Cards
- By Mailing Check
Can I Qualify for a Car Title Loan in Clearwater Florida if the Title is Not in My Name?
Out of all the necessary documents, a clear vehicle title holds a paramount position. You cannot get a title loan without a lien-free title in your name. But there is a solution to fix this problem: get the title transferred to your name.1
Getting your car title transferred is a very simple and smooth process that can be done by just visiting the nearest Florida Highway Safety and Motor Vehicles (FHSMV). You can complete the transfer process in about three short steps.
- Step 1: Visit the nearest office of FHSMV and fill in the title transfer request form. Or you can fill out the form in advance, through the official website.
- Step 2: Carry some required documents such as the title transfer form, your vehicle’s registration, and your driver’s license.
- Step 3: Submit the documents for verification and make payment using cash.
You will be notified as soon as the title gets transferred to your name. After that, you can apply for a title loan.1
Where I Can Use The Car Title Loan Proceeds?
Since title loans are short-term loans, they can be used to cover your day-to-day expenses or some financial emergencies. Here is the list mentioning the most common uses of Clearwater car title loans:1
- Paying Rent and Monthly Bills
- Travel Plans
- Legal Fees
- Medical Debts
- Pet Emergencies
- Home Repairs and Improvements
- Car Maintenance
Do I Need a Bank Account to Apply for a Car Title Loan in Florida?
Not necessarily. Having a bank account is not a prerequisite for getting a title loan and hence, you can qualify for a title loan even if you do not have a checking account.1
A checking account is generally required for receiving the loan or for repaying it. However, today the applicants have an array of other options through which they can repay or receive the loan.1
Will There be any Prepayment Penalties if I Decide to Pay the Loan Early?
5 Star Car Title Loans allows the borrowers to repay the loan earlier than the decided upon time.4 We do not charge our customers with any kind of hidden fees or prepayment penalties. Therefore, you can return the money as early as you wish to.4
Advantages of Getting a Title Loan with 5-Star Car Title Loans in Clearwater, FL
The title loans from 5 Star Car Title Loans come with a blend of appealing and exciting benefits. If you get a loan with 5 Star Car Title Loans, you can enjoy the following advantages:
- Flexibility: Unlike installment and payday loans, title loans provide great payment flexibility. You can repay the loan anytime between one to three years.1
- Keep Driving Your Car: If you have applied for a title loan, you will not be asked to submit the car or the keys; you can keep driving the vehicle while repaying the loan.1
- Completely Online Process: With 5 Star Car Title Loans, you can complete the whole process online. You can fill out the form, submit the documents and even get your inspection done online.1
- All Credit Types can Apply: You can apply for a title loan irrespective of your credit score as title loans have a looser credit qualification.1
Are You in Need of Emergency Funds?
If you are a Clearwater resident who is looking for a quick and smooth method to receive money, you can apply for a title loan with 5 Star Car Title Loans in Clearwater. You can qualify for such a loan irrespective of your credit history.1 Also, you can get money in as little as a day!2 So, apply online right now and get your money in one business day.2
