5 Star Car Title Loans in St. Cloud, FL
When you have credit card debt, an unexpected medical expense, or unavoidable bills to pay, it can be stressful to arrange funds in a short time. It can be even more daunting if you have a bad credit score as it may seem impossible to get approved for a bank loan.
In that case, you should know about some additional borrowing options that can help you borrow money quickly and without significant credit checks. For example, if you own a car you can get a title loan in St. Cloud, Florida, without having to provide your car as collateral.
Title Loans are secured loans granted by third-party lenders such as 5 Star Car Title Loans against a lien on your car title. These are short-term loan solutions designed to financially assist applicants who have run out of money, borrowing options, and have poor credit.1
About Title Loans in St. Cloud, FL
Title loans are also called pink slip loans, car title loans, auto title loans, and auto equity loans. These are small and secured loans that are given against a car’s title as collateral.
These loans work as the last resort when you have emergency expenses and no other way to obtain quick cash as a traditional bank loan may take longer to get approved. In that case, you can pawn your car title and get funds without delay.
With a title loan from 5 Star Car Title Loans, you can get up to 25% to 75% of your car’s value in the form of liquidated funds available for immediate use within 24 hours2.
How Do Title Loans Work?
The process of obtaining an auto title loan from 5 Star Car Title Loans is pretty straightforward and requires just a few simple steps:
Online Application Submission
You don’t have to visit our office to apply for a title loan. Simply visit our website, fill out the e-form and submit your online application to get started in just a few minutes!2
Prepare Required Documents
If you need money very urgently, it is best to prepare the required documents in advance and upload them timely so you can get approved faster. Our team will assess your documents and give conditional approval within the same day2, pending review of documents.
Get Quick Loan Approval
Title loan companies such as 5 Star Car Title Loans don’t take too long for loan processing as these loans are primarily intended for emergency household purposes. Thus, you may get the final loan approval following document verification1 within a business day or two.2
Documents You’ll Need for a Car Title Loan in St. Cloud, Florida
Title loans in St. Cloud, Florida, can be obtained much faster when you know which documents you will need to submit.1
Here are the key documents you should prepare when applying for title loans:
1. Original Vehicle Title
You will need to submit your original car title demonstrating sole ownership. The title must be under your name which should match the name on your driver’s license.
Additionally, your car title should be lien-free, which means no third party should have partial ownership over the car title. Otherwise, you may not be able to qualify for a title loan.
2. Current Vehicle Registration
You must have a current and valid vehicle registration certificate under your name in St. Cloud, Florida. If your car registration is expired or about to expire, you should get it renewed before getting started with your title loan application.
3. Proof of Vehicle Insurance
You may not necessarily need to provide proof of vehicle insurance in most states. However, some lenders require applicants to submit their vehicle insurance along with the car registration for loan processing.
It helps the lenders ensure that any subsequent vehicle repairs after loan approval will be covered under the insurance.
4. Government-Issued Identification
You need to have a local driver’s license in St. Cloud, FL or submit another government-issued ID to prove your eligibility to enter a title loan contract. It will signify that you are a legal adult (18+ years old) and legally allowed to keep your own vehicle and drive it.
Make sure your name on the driver’s license matches the name on the title. If the title is owned under a different person’s name you should get the title transferred to your name before applying for a car title loan.
5. Proof of Residency
To apply for a car title loan in the St. Cloud area, you must provide relevant proof of residency in the form of utility bills, credit card bills, acceptable property documents, or rental agreements.
It will help determine the loan terms applicable as per the latest Florida title loan laws.
6. Recent Income Proof
Submitting your income proof is the most crucial step for getting a car title loan. It helps lenders determine your ability to repay which is a major factor for loan approval. Thus, you can submit your latest salary stubs or alternative proof of income from other sources such as:
- Pension or Retirement fund
- Business Income
- Inheritance or Trust fund payments
- Unemployment Benefits
- Disability benefits
- Social Security benefits
- Any other additional income source
7. Photos of Your Car
The actual loan amount is calculated based on your car’s worth under the current market conditions. Thus, you can submit the photos of your car for an online inspection. Make sure the photos correctly display the VIN and odometer readings for the assessment.
As soon as you submit the documents for assessment, our team will review your documents and if your vehicle qualifies, you will get the loan approval quickly.1
If you are interested in applying for a title loan at competitive rates, give us a call at (888) 309 0994 today!
How Much Cash Can I Get with a Title Loan in St. Cloud?
Title Loans are generally given for an amount equivalent to 25% to 50% of the current market value of your car. However, you can get a maximum loan amount of up to 75% of your car’s value at 5 Star Car Title Loans.1
Thus, depending on the vehicle year, model, and car condition, you can get a loan of your desired amount, from a small couple of hundred bucks to over a few grand. In addition, the funding time at 5 Star Car Title Loans is very fast, so you can get the cash within 24 hours of approval.2
If you are interested to get an accurate estimate of how much loan amount you can borrow, apply online or call us at (888) 309 0994 for a consultation.
How Long Does it Take to Get Money from a Title Loan?
It does not take too long to get access to money from an online title loan. At 5 Star Car Title Loans, our team ensures that the loan proceeds are released within 24 hours and don’t take longer than 1-2 business days.2
You can also choose to receive the funds via:
- A mailed check
- Direct deposit in your bank account
- A money order
- Receive cash from your closest Moneygram locations
What is the Repayment Time Frame for Title Loans?
Unlike service student loans or payday loans, you don’t have to pay the full amount at once. At 5 Star Car Title Loans, we allow applicants the flexibility of repaying the sum in affordable monthly installments.4
Generally, the payment period can extend from 30 days to 3-6 months or more, depending on the sum borrowed and your ability to pay the loan back. Our team can assist you with a flexible repayment schedule that works best as per your preferences.
Additionally, you can also choose to pay the loan early without any pre-payment penalties.4 This way, you can regain full ownership of your car title much sooner.
What Happens If I Default on a Title Loan?
As Title Loans are usually granted by third-party lenders over your car title as collateral, defaulting on the repayment installments does not affect your credit history and score in any way.
However, it is important to remember that Title Loans come with a risk that if you make defaults during the loan repayment, the lender can execute their rights for vehicle possession.4 In that case, you may lose your car.
Therefore, you must set a repayment plan in place when considering getting title loans in St. Cloud, FL, to avoid losing your vehicle.4
Apply for Online Title Loans at Competitive Interest Rates with 5-Star Car Title Loans!
Are you in a hurry to get fast cash for managing sudden expenses? You can arrange quick funds by taking a title loan from 5 Star Car Title Loans. We specialize in providing same-day loan approval1 and funding when you need it the most!2
We provide reliable title loan services in various locations across the U.S. Thus, if you are a resident in St. Cloud, FL, or a nearby location, don’t hesitate to apply for online title loans at 5 Star Car Title Loans.
We don’t have a lengthy loan processing period, extensive credit checks, or stringent loan approval requirements.1 So, when you need funds faster without any delay, apply online for a title loan in St. Cloud, Florida, today!
Benefits Associated with Title Loans from 5-Star Car Title Loans
You can enjoy the following benefits when choosing our expert assistance:
Fully Online Loan Process
With our fully online application process, you don’t have to wait around in lines to apply for a car title loan. Simply apply online in minutes, upload your documents, and get fast approval without hassle!1
Same-day Funds Availability
We know you want money as soon as you get the final approval. Thus, you can expect the funds to be available for use on the same day within 24 hours or less!2
Approval with Bad Credit!
If you have bad credit and have unsuccessfully tried to get a bank loan previously, it won’t be a problem with a title loan. We provide fast approval for title loans even with a bad credit history, as long as you have decent income proof to demonstrate your ability to repay.1
Convenient Repayment Period
Unlike payday loans which have a strict repayment policy at the end of the term and a very short time frame for repayment, we have a more convenient repayment period. Thus, you can choose the repayment schedule spanning from 3 to 6 months or more.4
Competitive Interest Rates
5 Star Car Title Loans strives to provide quick car title loans in St. Cloud, FL, at competitive interest rates and No Hidden Charges.1 We disclose the full loan terms in advance so you know there won’t be any additional balloon payments at the end.
Get Approved Title Loan Funds for Your Emergency Needs in St. Cloud, FL!
When you need hassle-free, quick funding without a good credit score1, 5 Star Car Title Loans is your trusted lending partner. So, when you are struggling with a crumbling financial situation and need immediate monetary support via a title loan, feel free to consult with our experienced loan officers at any time!
Apply online or give us a call at (888) 309 0994 to schedule a consultation today!
