Car Title Loans In Jacksonville FL
It can be challenging to borrow money with a low credit score, and most unsecured lenders take days to process and underwrite your loan application. Even if you're lucky to get approved for a personal loan, the funding amounts are often less than $1,000, and you'll need a credit score of 700 or higher to borrow more than that.
So what are you supposed to do if you need fast cash but can't get approved for a payday loan or line of credit? Here in Jacksonville, you can now use the equity in your vehicle as collateral for a loan. You don't even need a good credit score to qualify! Highway Title Loans offers cash for the equity in your car and most newer paid off vehicles will qualify.
With a car title loan, you can borrow $2,500 or more in Jacksonville, Florida; it takes less than 24 hours to approve and underwrite your loan and some companies will let you borrow up to $20,000 if you have a high value car or truck! Read on to learn more about how these title pawns work and what you need to get approved!
How Do Title Loans Work And What's Required In Jacksonville
Car title loans are secured by the collateral from your vehicle's title, which makes them easy to qualify for if you have a lien-free car. A lender will offer you a loan based on your equity, with loan amounts equal to 35% to 65% of the current resale value.
Title loans have become common in Jacksonville over the past few years as the requirements are far less than what you need for a personal loan. To qualify for a Jacksonville title loan, you must meet the following criteria:
Proof of Residence: Verify residency in Florida with a utility bill, driver's license, or passport. Essentially, any government-issued document showing you live in Florida will work.
Income Verification: Submit proof of income to demonstrate your ability to make the monthly payments. Proof of income can be from bank statements, employment records, or social security forms.
Vehicle Title: You can only qualify and be approved for a title loan in Jacksonville by showing proof of vehicle ownership. Your car must be titled in your name, and you'll have to sign over the car's title(not the vehicle itself to whomever funds your loan. Your lender will be noted as the primary lienholder for the car.
Photos Or Videos Of Your Vehicle: We need to verify the collateral for a title loan, which means we need to inspect the vehicle in person or use photo or video proof of the vehicle. Companies offering Florida car title loans may still require a vehicle inspection if you're looking for more than $5,000, but that's not always the case in Jacksonville. Still, we need recent photos of your car or truck with current odometer readings and a picture of the VIN.
The Process To Get A Car Title Loan With No Store Visit In Jacksonville, Florida
If you're sure a title loan is your best option, Highway Title Loans is the place to start! You can complete our online application with your vehicle information, contact details, and desired loan amount. You can also call us at 877-433-5454 to get started. It only takes 15 minutes to complete the application and proceed to underwriting.
You choose the best lending option after we receive your vehicle information and get you a quote with different payment terms, interest rates, and loan amounts. We may then ask for additional documentation to verify your exact loan terms. Once we verify the information, we'll match you with a licensed title loan company in Jacksonville.
To finalize the loan, you must agree to the lending terms, sign off on the contract, and add the lender as a lienholder to the pink slip. The last step is getting your cash, which can happen that day! Some local lenders in Jacksonville offer funds just minutes after approval! Others will send the money to your checking account through direct deposit. If you don't have a bank account, you can request a money order or have the funds sent to a debit card.
Loan Amounts With A Title Loan In Jacksonville Florida - What Is The APR
Loan amounts in Jacksonville depend on several factors, and the exact amount varies based on your underwriting profile, lender requirements, and the vehicle's resale value. Most title loans in Florida start at $500 and go up to $20,000 for high-value cars and trucks with low mileage. As of 2024, the average funding amount in Jacksonville is $2,000; the loan amount is primarily determined by how much equity you have left in the vehicle. Vehicles with low mileage will get you the highest funding amount, and we also offer title loans on classic cars that still hold their value.
The APR is set according to state laws; there's always room to negotiate with your lender and lower the rate. One thing to remember with a title loan is that you don't always have to pay a high rate! Title loan providers in Duval County set rates between 40% and 125%, so you can see how important it is to find a lender offering the best APR.
While we won't always check your credit score, these bad credit title loans are an option for anyone with poor credit. We know most applicants have poor credit scores, and you should be able to borrow upwards of $5,000 even with a low FICO score. Are you dealing with a high interest title loan from another local lender in Jacksonville? Don't hesitate to contact us and see how much we can reduce that rate for a title loan refinance. Even if your interest rate is less than 40%, it doesn't take more than a few minutes to see if you can reduce your APR and get a quicker payment term!
I Need Cash Fast - Apply With Highway Title Loans In Jacksonville
Apply online or contact Highway Title Loans at 877-433-5454 for a quick quote based on your vehicle's value. There's no need to worry about your poor credit, and we'll get you the highest loan amount possible for your vehicle's value in Jacksonville! Some customers with cars worth more than $10,000 can borrow $5,000 or more in Florida and you can often get everything done without having to visit a lending location!
We'll process your application quickly and get you a pre-approval quote in less than an hour. Get started now!
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