Orlando Title Loans

Use the equity that you have in your vehicle and get your cash the same day. Fast and easy online title loan. All credit types accepted

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    Unexpected events and emergencies can disrupt your financial life, but they should not define your future. A title loan can provide quick cash by using your vehicle as collateral. A title loan can be obtained by using your motorcycle, car, RV, boat, or boat title. There are two main reasons title loans are very popular. While credit ratings are not considered when determining eligibility, lenders usually consider only the vehicle’s worth and condition to determine the loan’s affordability. Second, title loans can be approved quickly and for amounts as low $100 thanks to the looser requirements.

    A car title loan is the most popular type of title loan. Car title loans may also be known as “titlepawns”, ‘title pledges’, or “pinkslip loans”. The pink paper used to print California car titles once was the inspiration for the term “pink slip”. A potential borrower must first own a car and sign the title over at an auto loan title title company. The loan company will lend anywhere from $100 to $5500. This amount usually corresponds to 25 to 50% of the car’s value. Additionally, the loan company will retain your car’s title in case of default.

    A typical car title loan amount is $1,000. But, they could be higher. The typical loan term is between 15 and 30 calendar days. However, it could be extended. Borrowers can either repay the car loan title loan in one installment, usually after one month, or spread the repayment over multiple years. The auto title company can take the vehicle if the borrower fails to repay the title loan as per the agreement. The loan company may also offer to let borrowers in default make interest-only payments for one month, effectively rolling the loan amount over indefinitely until they are repaid fully.

    The lien on the title loan is removed once the loan has been paid off and the car’s title is returned to the original owner. If the borrower fails to pay their loan payments, the lender may repossess the car and sell it to repay the debt.

    How a Title Loan Works

    Before you decide to get a title loan, these are the things you should know.

    A title loan, which is a secured loan, allows borrowers to use the vehicle they own as collateral. Your car is the collateral for the loan repayment. The lender may take possession of your vehicle if you fail to repay the loan on the due date. You need to give the lender the title of your vehicle, including your truck, car or motorcycle, in order get a loan title. To borrow the money, you will also have to pay a fee to the lender. Title loans can be short-term loans at high interest and have very few requirements. You may still qualify even if you don’t have good credit. Sometimes, credit scores or histories are not considered.

    A title loan can be applied for by any lender who offers it, provided you own your car outright and have a free title. Your car and proof of ownership (your title) will be required to prove your identity to your lender during your application.

    The lender will assess your financial ability, the vehicle’s worth and then offer you a loan.

    If approved, you will have to surrender your vehicle in exchange for the loan. The terms of title loans are determined by the lender. They typically last for 30 days and are very similar to payday loans. This means that you will make one lump-sum payment at end of loan period. The amount borrowed plus interest and fees must be paid. Lenders charge a monthly fee equal to 25% of the loan amount. This translates into an annual percentage rate (APR), of at least 300%.

    You will continue to pay the lender until your loan is repaid. During this period you are allowed to drive your car for the duration of the loan. You will receive your car back once all payments are made. If you have paid all your bills on time, your credit score might be boosted.

    The Benefits Of A Title Loan

    The process of getting started is easy and quick.

    Car title loans may be easier to get than other types of loans. This is because your car acts as collateral, so you can drive your vehicle while you pay back the loan.

    Many title loans can be obtained in under 15 minutes for loan amounts of $100 or less. Because these loans are not financially profitable or too risky, many financial institutions won’t loan less than $1,000 to anyone without credit. Many lenders also verify the collateral and verify the borrower’s income. The lenders don’t generally look at the borrower’s score on credit.

    In many states, alternative title lending is available. They are known as auto pawn, or car title pawn. {A car title pawn is similar to a traditional car loan. The borrower uses the car’s title and vehicle (which is often stored by the lender) as collateral. There are the same risks and factors involved, but the borrower will typically receive more cash because the lender has the vehicle and title.|A car title-pawn works in the same way as a traditional loan on a car. It uses the car title and the actual vehicle to secure the loan. Borrowers face the same risks and considerations, but they are more likely to receive cash due to the fact that the lender owns both the title and the vehicle.|A car title lender uses both the vehicle title and its physical form to secure the loan. This is the same as traditional car title loans. However, the borrower faces the same risks and issues as any secured loan. Most of the time, they will get more cash since the lender holds both the vehicle title and car.|Similar to traditional car-title loans, a car pawn uses both your vehicle and the title to secure the loan. While there are similar risks and factors to secured loans, most borrowers will receive more cash as they have both the title AND the vehicle.

    Ready To Get The Cash You Need? Apply Today

    Our team are waiting for your call and are ready to answer any questions you may have about your Orlando online title loan.

    Title Loans Frequently Asked Questions

    How do title loans work?

    Title loans allow you to access cash by using a paid off car as collateral for a loan. These secured loans are often issued to people with bad credit and you can expect a loan payoff term of a few months to 3 years. Lenders offer them as a way for borrowers who are an in a financial bind and need quick cash.

    What is the downside to a title loan?

    These loans are hard to pay off because most borrowers who apply for a loan have bad credit and lender's have terms that are difficult to pay down. At first the interest rate is low, but every month you need extended, the interest rates rise to high levels. When you are borrowing a high amount, it may be tough to pay it back in the short period of time.

    Do I need proof of income for a title loan?

    As with any type of loan you will need to show some type of money coming in each month. That way your lender knows you can make the future monthly payments for whatever amount you borrow. Most lenders will accept part time work and monthly annuity payments in the place of full time employment.

    Do title loans hurt your credit?

    Most borrowers who apply for title loans already have a credit score that can be classified as poor. But did you know you may be able to improve your credit rating with a title loan? Some larger title loan companies actually report on time monthly payments to the credit bureaus and that can improve your overall credit score.

    Are car title loans worth it?

    As long as you can show that you have a reliable source of income, and a car worth more than the loan you are requesting, typically the title loan provider can approve your loan application. Car title loans are also an excellent option if you need money immediately.

    How much is my car worth for a title loan?

    People often want to know how much they can access with a paid off title loan. You can access 40-65% of the vehicle's equity when you get a title loan. The average loan amount is $100 to $5,500 for most secured loan, but some lenders will let you take out up to $10,000, and even more. Once you're approved for a loan, you'll give the lender the title to your car.

    Can I access cash from a title loan on a car I just bought?

    I just bought my car and haven't had the title transferred. Is it possible for me to borrow money using my car as collateral? Yes, unless we are prohibited by laws in your state.

    Can you get title loan online?

    Title loans let you get cash and use your car as collateral to secure the money borrowed. These are a great option for someone with bad credit and the process is made even easier if you want to apply for financing online. Simply take a few minutes to fill out an application for a title loan online and you can get a pre-approval in less than 20 minutes.

    Is getting a title loan a good idea?

    A car title loan an option for someone who needs cash quickly. But is it the best way to get cash? That depends on your financial situation. If you really need the money and can't qualify for other funding options like a personal loan or bank loan that it may be the best alternative. As always, do you due diligence and compare lending terms and rates for any company you work with.

    How much will I pay with a title loan?

    The interest rate and other fees that come with a title loan are really high and you can end up paying more in fees and interest than you initially took out with a title loan! The exact cost of a loan ultimately comes down to what rate and payoff term you agree to. But some companies may have interest rates that are well over 100% for a title loan.

    Can you get a registration loan if you have a title loan?

    A registration loan and a title loan are not too different. This means you could still be financing the vehicle but as long as it's registered to you, then you can take out a registration loan. Since registration loans do not require you to own the vehicle outright, they are not secured by any collateral.

    How can I get a loan with no title on my car?

    If you have a clear title for your car available — meaning the car is definitively yours — you can use it as collateral in the loan application process. The maximum loan amount will vary depending on the value of the car. That means you probably can't get a title loan without a car title to use as collateral.

    Can you use a bill of sale to get a loan?

    Some title loan companies will be ok with the use a bill of sale for a loan, but that's really secondary. Any legitimate lender will also require a paid off car title or pink slip as collateral.

    Does the title have to be in your name to pawn it?

    Similar to if you wanted to apply for a title loan with a pink slip that's not in your name you can't get a title pawn with that scenario either. A title pawn company will hold the vehicle itself as collateral for the cash borrowed, but the lender will still want to know that you're the only owner on the pink slip.

    Can you pawn a title that's not in your name?

    The only way this may work is if the person who's name is actually on the car title let's you apply for a loan and use them as a cosigner. Most other scenarios will not be acceptable because the only way yo can borrow cash with a title loan is to actually have a pink slip that's in your name.

    How can I borrow money against my car?

    To be approved for a typical title loan you have to have enough equity in your vehicle. The amount of collateral required to be approved varies depending on the amount you're looking for and the car's make and model. But if you have a newer car with low miles then it's likely you can borrow cash by using the car as collateral.

    Can I get a loan on my car if I still owe on it?

    Yes! Even if you still owe on the car, you could qualify for fast financial support through title loans!

    What's the difference between a title loan and a title pawn?

    These two types of secured loans may be the same when it comes to borrowing money, but they have a few differences. With title loans, you are using your car title as collateral for a loan but the lender allows you to keep driving the car while you make payments. Title pawns also let you get cash for a paid off vehicle title, but the auto pawn lender will keep the car as collateral for the loan.

    Ready To Get The Cash You Need? Apply Today

    Our team are waiting for your call and are ready to answer any questions you may have about your Orlando online title loan.