Are you dealing with an urgent expense that is putting you in a tough spot financially? Maybe your emergency fund or your credit cards just aren’t enough to cover your most recent bills. Consumers in that same situation have gotten cash in their pockets by applying for title loans Jacksonville. It’s a convenient way to get money the same day you apply for the loan, and you don’t even need good credit, as there’s no credit check involved in the application process.
If you’re wondering how that application process works, here at Findlay Car Title Loans, we’ve made it easier than ever. Right here on our site, we have a streamlined online application for auto title loans in Jacksonville. It takes just seconds to fill out, and you can do so by going to the application form and entering the following information about the car that you plan to use as collateral on your loan:
Then, you’ll also need to enter the following contact information:
That’s all the info we need from you to calculate your free car title loan estimate, which will be contingent on the condition of your car. We’ll also have one of our Findlay Car Title Loans representatives get in touch with you to answer any questions.
As far as what you need to bring with you to get a title loan, you don’t need anything more than you’d have any other time you drove somewhere. The only documentation we need to see is your government-issued ID and your car title. We look at your ID to check your date of birth, because federal law requires all title loan borrowers to be at least 18 years old. Over the term of the title loan, we hang on to your car title, and then return it once your loan is paid in full.
One common annoyance for people looking for title loans Jacksonville is getting listings for title loan companies out in other far-away towns or cities. That isn’t a problem here at Findlay Car Title Loans, because we chose a location right here in Jacksonville for our office. It’s a quick, convenient drive to get over here whether you decided to take the freeway or stick to surface streets. There’s also quite a bit of parking nearby.
When you get to our office, one of our representatives can assist you and get you started on your title loan paperwork. Make sure that you tell them if you already got preapproved for a title loan through our online application. We’ll also look up your car in a vehicle value guide and then perform a quick vehicle inspection to determine its condition. This helps us figure out exactly how much we can lend you. Once that’s all finished, we just need to get your car title from you and we can issue the loan. If we aren’t too busy when you get here, you may be in and out of our office in 30 minutes, and you’ll be leaving with your money.
How It Works
A title loan is also known as a secured loan, and what secured means is that it has a form of collateral attached. In this case, the collateral is your car, but you still keep your car over the term of your loan, and the lender only has your car title during that time. Title loans vary considerably from state to state because the federal government gives states quite a bit of authority in setting their own title loan regulations. This means that a car title loan in Jacksonville must follow Florida’s title loan laws. Fortunately, these tend to be very borrower friendly.
While many states don’t put any limit on title loan interest rates, Florida does, and the limit depends on the loan amount. For loans up to $2,000, there’s a maximum annual percentage yield (APR) of 30 percent. The maximum APR drops to 24 percent if the loan is between $2,000 and $3,000, then goes down to 18 percent if the loan is over $3,000. These interest rates are among the lowest in the nation, making title loans Jacksonville an affordable choice.
The standard repayment period for a title loan is 30 days. If the end of your title loan term comes and you don’t have the money to pay it off, you do have another option. You can pay just your interest and renew the loan, which is also known as rolling it over. The loan principal carries over to a new 30-day term, which has another monthly interest charge. You pay a bit more, but you get more time to pay back your loan.
Defaulting on your loan by failing to make a payment can result in the lender repossessing your car, but state law prevents this from happening right away. Instead, the lender needs to provide you with a 30-day grace period after the due date of your missed payment before they can repossess your car. Florida also requires lenders to send written notification about the impending repossession before repossessing anything.
The lender must provide you with another written notice at least 10 days before selling your car with the sale details and the amount you currently owe. You can pay that amount to get your car back, or go to the sale and buy your car back. All things considering, you have plenty of time to catch up on your payments before repossession occurs. If the lender sells your car and there is a surplus amount from your car selling for more than what you owed, then the lender must send you that surplus amount within 30 days. Repossession isn’t a big concern for title loan borrowers, as it happens very rarely and you can usually work out a payment resolution with your lender if you’re having trouble.