5 Star Car Title Loans in Miami, Florida
Financial hurdles hit us when we least expect them. And when that happens most people would go to big financial institutions such as banks or credit unions only to find out that their loan application is denied as it does not meet their strict requirements.
Therefore, if you’re going through a tough financial phase come to 5 Star Car Title Loans and get cash in as little as one business day.2 We won’t waste your time or energy putting you through an endless amount of paperwork or hard credit score check.
Instead, we have made the car title loan process to be as simple, easy, and straightforward as possible.
What are Auto Title Loans in Miami, Florida?
Car title loans — that also go by auto equity loans or pink slip loans — are secured loans that allow borrowers to borrow cash by using the title of their vehicles as collateral. The car title is returned to the borrower once the loan has been completely paid off.
Although to secure the loan, you are using the title of your car, borrowers still get to keep driving their vehicles while they are repaying their loan.
When you apply for a title loan, how much money one can get depends upon the borrower’s ability to pay back the loan.1 One of the benefits of using an auto title loan is that the qualification process isn’t as rigid or strict as other loans.1
And because a vehicle is used as collateral to secure the loan, auto title loans do not entirely depend upon the credit history of the borrower.1
You may take a title loan in Miami to cover the costs of:
- Medical Bills
- Emergency Expenses
- Personal and Household Expenditure
Getting Title Loan in Miami is Easy! Just 3 Easy Steps and Have Money in Your Hands
Our easy and streamlined online process makes it easier for you to apply for title loans in Miami, FL. Just follow these 3 easy steps and get your cash in less than 24 hours.2
1. Fill Out the Online Application Form or Apply Over the Phone
To get started with the title loans, you need to give us a call at (888) 309 0994 or apply online with our easy application which will only take a couple of minutes.2 Once you give us a call, our loan team in Miami, FL will contact you to make you understand the process.
2. Turn in Some Required Documents
Next, you need to submit some documents as proof that you qualify for the title loans. The quicker you turn in the documents, the faster you will get the money.2
3. Get Your Money
After 5 Star Car Title Loans approves your loan request in Miami, FL, you may receive a loan contract. Read the terms and conditions properly and sign the contract. You may get your money in less than one business day.2
Get a Title Loan and Keep Driving your Car
Since car title loans involve using your car as collateral there’s a misunderstanding that loan receivers are not allowed to keep or drive their vehicle. But that’s not at all true!
One of the biggest advantages of securing a vehicle title loan through 5 Star Car Title Loans is that borrowers get to keep driving their car during their loan repayment tenure.1 You can drive your car to college, work, other towns, or wherever you want.
Once you’ve handled your financial emergencies and re-paid the loan, you can get the title of your vehicle back.
Bad Credit Score is NOT a Problem!
You’ll be surprised to know that, unlike traditional loans, you can still apply for auto title loans in Miami even if you have a poor credit history or a past bankruptcy.1
So, don’t let your poor financial history or bad credit score in getting the way of what you need. 5 Star Car Title Loans makes it easy for you to get cash to pay your bills, clear your debts, or deal with any other financial problems.
Title loans use your car title as collateral and there are fewer lending risks therefore you can still qualify for a car title loan in Miami even if your credit score isn’t good.1
Documents Requirements to Get a Title Loan in Miami, FL
Applying for a car title loan in Miami is not complicated, unlike other loans. You just need to turn in some documents to request title loans in Florida, such as:
- Miami Government Issued ID card- You can submit your driver’s license, password, or FOID card.
- Proof of Residence- Utility bill, property tax receipt, voter card, lease, or rental agreement.
- Proof of Income– Paystubs, tax returns, recent bank statements, or ITR.
- A Car Title- A vehicle in your name
- Photos of the Car– Send photos of your vehicle from all the angles
Submit these documents to get approved for a title loan and receive cash in as little as one business day.2
Why Do You Ask For All These Documents for Car Title Loans in Miami?
Just like any other loan, you need to submit a few documents to 5 Star Car Title Loans as there is money involved.
Here are some details as to how we may use your documents:
To Verify the Applicant’s Identity
Verifying the applicant’s identity is very important not to 5 Star car Title Loans but to every lender. We want to make sure that you are what you say you are before offering you a loan in Miami.
Verification of Car’s Ownership
Another factor that we verify before offering a loan is your vehicle’s ownership. We check if you are the only owner of the car or not. Your vehicle title needs to be in your name in order to use it as collateral for emergency cash.
Verification of Applicant’s Ability to Repay the Loan Amount
We need to have a proper picture of the borrower’s financial situation before we can decide how much loan we can offer and what would be the monthly repayment terms.
Qualifying Requirements for Title Loans in Miami
Getting approved for a car title loan in Miami is a great way to solve financial problems for many people. However, borrowers need to meet two main qualifying requirements to get approved for a title loan.1
Your financial ability to repay the loan is an important qualifying factor for auto title loans.1 You may still qualify for a title loan if you are not currently employed or have a regular 9 to 5 job.
Another qualifying factor includes the existing equity of your vehicle and this can be determined by the year, make, model, and condition of your vehicle.1
How Much Cash Can You Get With Title Loans in Miami?
If you are a resident of Miami and looking to apply for a car title loan, you might be wondering how much money you can get. The factors that determine the amount you can borrow are the same as the qualifying factors.
The title loans are collateral-based loans which means the more equity you have in your vehicle and the higher your income is, the larger your loan amount will be in Miami.1 Normally, you can access up to 75% of your vehicle’s value.1
Possible Reasons That Can Deny You Auto Title Loan in Miami
There are many reasons why your application for pink slip loans was denied in Miami, FL, such as:
- Problems with your credit check or history
- Insufficient value of your vehicle
- Unstable income
- Your car title already has a lien on it or you are not the only owner
Do I Need to Travel To Get Money for Car Title Loans in Miami?
Once you get approved for a car title loan you don’t need to travel to collect your funds. Instead, you can choose from various funding options including:
- Receiving a check in the mail
- Direct Deposit
- Getting a money transfer
- Collecting the cash from your nearest MoneyGram location
Why Should I Apply for Title Loans with 5 Star Car Title Loans?
Residents in Miami when applying for title loans with 5 Star Car Title Loans can expect loan experience with fast funding and numerous benefits, such as:1
- Competitive interest rates.1
- Repayment options can be extended.
- Those with poor credit scores can still apply.1
- You can apply for auto title loans online and it will only take a few minutes.1
Frequently Asked Questions
What are Online Title Loans For in Miami?
When you apply for quick online title loans in Miami, FL you can use the cash for whatever purpose you want. There’s no restriction on what can you use the funds for. These auto title loans in Florida are designed for people to borrow cash to cover various financial emergencies such as-
- Medical bills
- Home repairs and improvements
- Car maintenance
- Cosmetic or dental surgeries
- wedding/ funeral expense
- Paying off the bill of credit cards
Who Qualifies for Vehicle Title Loans in Miami?
The Applicants in Florida that meet the following requirements have more chances of getting approved for title loans-
- You need to be at least 18 years of age (provide your government-issued ID card)
- You must be a legal resident of Florida (give proof of residency)
- You must have a car title in your name (it should be free of any liens).
If you meet these requirements you have a good chance of approval for your title loans in Miami.
I have a Vintage Car. Can I still apply for a Title Loan?
One of the eligibility for a title loan is your car’s equity value. Therefore, if you have an old and vintage car kept in a good condition, you may still apply for a car title loan in Miami.
Can I Pay Off my Title Loan Early?
Yes, you can! You can pay or clear your debt early if you want. We understand that most people want to clear off their debt ASAP and that’s why we don’t charge any pre-payment fees.4
What Happens When I Default on my Auto Title Loan?
If for any reason, you think that you are going to default on your loan, we suggest you get in touch with us immediately so that we can work with you to come up with a solution for paying off your loan obligation.
We understand that somethings there can be an unexpected financial hardship and therefore we may be able to extend your loan.
How Long Do I Have to Repay my Title Loan?
Our usual loan term range from 12 to 36 months in Miami, Florida.1 You may also get an auto title loan for up to 48 months.1 Even if you decide to pay off your debt early, we won’t charge you any pre-payment penalties.4
Why Should I Choose 5 Star Car Title Loans?
If you are a resident of Miami, Florida, and need urgent funds, you must go for 5 Star Car Title Loans due to following reasons:
- The loan application process is quick, easy, and hardly takes 5 minutes.2
- Bad credit is accepted1
- You get to keep driving your car
- Get cash in as little as 24 hours2
- Enjoy competitive rates1
- No pre-payment penalties4
Apply for a Car Title Loan in Miami, Florida Today!
If you are in need of immediate funding, you can apply for a car title loan in Miami at 5 Star Car Title Loans. We have made it easy for you to apply for a title loan. Just apply for a title loan online or over the phone. It won’t take more than 5 minutes.2 After approval, you may receive your fund in less than 24 hours.2
Do you have more questions? Feel free to talk to our loan experts anytime!
