Where to Start When You Need a Title Loan in Sarasota Springs, Florida?
When you need a title loan in Sarasota Springs, Florida, know that there are several options that may be available for you to choose from. Most title loan lenders in Sarasota Springs, Florida can be reached via:
- Their website
- Over the phone
- In-person (if they have a brick and mortar location)
Call 877-221-2358 to speak with a loan specialist now!
When talking to a lender make sure to ask questions about estimates, interest rates, and repayment terms in order to get a better understanding of their particular process.
When you need a title loan in Sarasota Springs, Florida, it is a good idea to check out several lenders, and then compare their offers to find the best deal for your situation.
What Can I Expect with a Title Loan in Sarasota Springs, Florida?
When inquiring for a title loan in Sarasota Springs, Florida, you can usually expect to follow three simple steps.
1) Initial Inquiry—The first step is going to require reaching out to a title loan lender and submitting some basic information about your car and your lending needs.
2) Discuss Details with an Agent—Once an initial form is submitted, a loan agent will talk to you to discuss details about the loan and to request some documents.
3) Get Approved and Receive Money—Once approved for a title loan in Sarasota Springs, you’ll have to review and sign the contract. Once that is done, you can receive your funds!
When it comes to repaying a title loan in Sarasota Springs, you’ll have to make monthly payments which will encompass both the principal amount and the interest rate.
What Do I Need to Qualify for a Title Loan in Sarasota Springs, Florida?
When inquiring for a title loan in Sarasota Springs, you’ll need to have some documents on hand.
Here is a list of the general documents you will need to send to a loan agent:
- Car title (in your name)
- A government issued photo ID
- Proof of income
- Proof of residency
- Photos of the car
These documents will be used to verify your provided information from the initial inquiry.
What Kinds of Vehicles are Usually Accepted for a Title Loan in Sarasota Springs?
These are the types of vehicles that usually qualify for a title loan in Sarasota Springs, Florida:
|· Sedans||· Minivans|
|· Coupes||· Sport Utility Vehicles|
|· Hatchbacks||· Convertibles|
|· Station Wagons||· Motorcycles|
|· Sports Cars||· Classic Vehicles|
What Factors Do Title Loan Lenders Focus on for Eligibility?
Although most lenders will conduct a credit check, rest assured that credit scores are not a huge factor for title loan eligibility.1 The main reason for this is that the loan is secured through the use of collateral.
And so, instead of focusing on credit history, title loan lenders will instead focus on:
- The Vehicle’s Equity—The value of a vehicle is determined by the make, model, year, mileage, and current condition. The equity not only determines approval, but how much one could get.
- The Borrower’s Income—Income will help the lender determine how much a borrower should get, as well as how much they can reasonably pay a month.
And so, title loans may be a good option for those who need fast funding, but who don’t have the best credit score.1
Can I Keep My Car with a Title Loan in Sarasota Springs, Florida?
Yes, most title loan lenders in Sarasota Springs will let you keep and drive the vehicle during the repayment process. However, many lenders may ask that you have insurance on the vehicle.
It is also important to keep in mind that even though you may have complete access to the vehicle, it will technically belong to the lender until the loan is paid back in full and the lien is removed.
Feel free to call at 877-221-2358 with any questions you may have! Title Loans serviced by LoanMart is open 7 days a week for your convenience!