How You Can Benefit from Auto Equity Loans in St. Petersburg

Today, it’s not uncommon for many people to experience short term financial problems. This could arise due to being out of work temporarily or because of being blindsided by an unexpected expense. When you face this type of situation, you need access to quick cash. Bank loans or loans from credit unions are usually not the right solution for this type of financial emergency. Loans from banks and credit unions are great for situations in which you need to borrow money on a long term basis, such as when buying an automobile or real estate. When you are only facing a short-term cash problem, you need to be able to borrow quickly and pay it back within the near future so you do not have that payment hanging over your head. Getting approved for a bank loan is usually dependent upon two things. First, you must have good credit. Second, you must have some form of collateral to secure the loan. While you might be able to put up some collateral, if you do not meet the minimum credit score requirements, you usually will not be approved for a bank loan. Furthermore, it can take a long time to complete the application process for a bank loan. When you are facing a financial emergency, that’s likely time you do not have.

Auto equity loans are a much better option in such situations. With an auto equity loan, you do not have to be worried about being turned down because your credit score is below the minimum requirement. In fact, there are no credit score requirements. When approving you for St. Petersburg title loans, we will not even run a credit check. Instead, the equity you have in your vehicle serves as your collateral for the loan through your vehicle title. Since we do not need to run credit checks, we are able to offer a speedy loan process. You can find out in just a few minutes if you are eligible for an auto equity loan. If so, we can deposit your loan in your bank account within 24 hours or less.

To learn whether you are approved for an auto equity loan, complete the form found on the Apply Form part of our website. To complete the form, you will need to enter information about your vehicle as well as some contact information for yourself. This form can be completed online at your convenience.

After you have entered the required information, we will tell you whether you are approved for an auto equity loan with us, and if so, the amount of your loan. This amount will be determined based on your vehicle’s current value. We will also schedule a time when you can speak to one of our loan specialists regarding the final details of your loan. If you have any questions, you will be able to ask them at this time.

If you have concerns that you will not be able to continue driving your vehicle because you are using it as collateral for a loan, there is no need to be worried about this. We understand that your vehicle is important for family and work responsibilities. We will not take possession of your vehicle as long as payments are made in a timely manner. You will need to turn over the vehicle’s title to serve as collateral, however.

Legal Requirements for Auto Equity Loans

Prior to completing an auto equity loan, you should take the time to become well informed about the legal requirements that pertain to such loans in Florida. Florida state law requires that we not grant loans to anyone under the age of 18. Also, under state law, you must demonstrate that you are the legal owner of the vehicle to be used as collateral for the loan.

Auto Equity Loan Advantages

There are many advantages to taking out an auto equity loan versus other types of loans, including bank loans. In addition to being faster and more convenient than bank loans, auto equity loans also offer more privacy. You do not need to divulge why you need to borrow the money. Some of the most common reasons for taking out an auto equity loan include:

  • Auto repairs
  • Rent or mortgage payment
  • Credit card debt
  • Bail money
  • Veterinary expenses
  • Textbooks
  • Medical bills

You can maintain complete privacy with an auto equity loan while still borrowing the money you need to handle your finances.

6981 1st Ave N, St. Petersburg, FL 33710