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Title loans in Lauderhill, FL

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Open hours

Mon - Fri:
Saturday:
Sunday:

9am - 7pm
10am - 4pm
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Address

Magic Car Sounds

1201 N State Rd 7 #A

Lauderhill

33313 FL

Services available

Service type

GPS Installation Centers

All our loans are processed online. This location provides only GPS services, it does not issue loans

Start your loan process at this GPS Center

How it works

Advantages

Our main
advantages

Montana Capital Car Title Loans is one of the most flexible and trustworthy finance houses in the great sun-soaked city of Los Angeles, California. While there are many things that set Montana Capital apart from its competitors, here’s what customers should know about Montana Capital's differences.

Great customer service

No other financier will give you better customer service, and many of them won’t give you the time of day.

Loans for low credit score

Montana Capital has a reputation for working with customers with all sorts of credit score.

Simple application process

With options to apply online or to apply via phone, Montana Capital won’t let you wait forever until you get a response.

Have a bad credit score?
We will help you!

It’s not that hard as you think! Getting started
is just one click or phone call away

A few simple steps for
a free quote

Select the amount of cash you want

Benefits

Why you should choose us

Our goal is to provide you the maximum cash value with a payment plan that works for you, along with the an outstanding customer service. Our loans have helped give them the boost they need to get ahead in life.

No prepayment penalties

and no hidden fees. We don’t believe in these! Payoff your loan whenever is best for you. Your first payment will only be due 30 days from the day of your contract and in monthly installments afterward.

Bad credit is okay

Our loan approvals are based more on your ability to pay back the loan. We believe in helping everyone get ahead, regardless of credit! Check us out Today!

Best customer service

we have attentive title loan agents waiting by to help you today. Give us a call at 800-700-8900

Car Title Loans In Lauderhill, Florida: All You Need To Know

No one means to run out of cash, but sometimes life just throws a wrench into your careful budgeting plans.

Whether it’s utility bills or medical bills, certain emergencies come up where we just need that money now.

If you find yourself grasping at straws, maybe it’s time to consider car title loans. Let’s begin!

Understanding How Title Loans Work

Simply put, a car title loan is a short-term, secured loan that uses your car as collateral.

Car title loans are also called “pink slip loans” from the pink paper that California vehicle titles were once printed on.

However, car title loans have certain nuances that make it different from secured loans taken out from a bank.

Here are the top 3 characteristics that make them different.

1. Your Ability to Apply Isn’t Based On Your Credit Score

Unlike secured loans where lenders base your ability to borrow on a good credit score, car title loan lenders in Lauderhill will base it off of your car’s “equity value”.

Equity value is the value of your car minus any amount you owe on, say, a vehicle loan. You have full equity value if you own the vehicle outright.

That’s why it’s important that you have full ownership of your car so you can use the entire amount as leverage in applying for an auto title loan.

2. The Loan Amount Will Depend On Your Vehicle

Following that line of thought, lenders in Lauderhill will base the amount people borrow on a percentage of their car’s market value.

Depending on the lender, this could be anywhere from 25%-50%.

Lenders will appraise your car based on its model, make, and current condition in order to come up with a loan estimate.

Remember that things like depreciation or previous damage will affect the loan amount so you have more luck getting more money for a brand new car!

3. The Lender Doesn’t Hold Onto Your Car

Unlike car pawn loans, auto title loans allow you to continue driving your car even if the lender is holding onto the title.

Lenders will only repossess your car if you can’t keep up with payments and pay off your debt.

Applying for A Car Title Loan in Lauderhill, Florida: 5 Easy Steps

Now that you know how title loans in Lauderhill work, let’s dive into the actual loan process for your vehicle title loan application.

  • Fill out an application form online or in-person
  • Bring your car and lien-free vehicle title to one of your lender’s branches in Lauderhill
  • Submit any other additional requirements (check the list below!)
  • The lender will do a car appraisal and determine the amount you can borrow
  • Sign the loan agreement and receive your money in cash or in your bank account

Main Requirements for Loan Application

While requirements may vary from state to state, lenders in Lauderhill will require people to provide the following as part of the application process:

  • Be at least 18 years old and the owner of your car
  • Present a lien-free vehicle title
  • Submit at least 1 valid I.D.

Top tip: Lenders need to get the vehicle identification number (VIN) of a car when they’re processing car title loans.

A VIN number acts like your car’s fingerprint and will tell a lender if there is any lien on the vehicle.

The VIN number is found on your title, so in case you lost this, read on to find out how you can request for a replacement!

Other Requirements You Might Need

Keep in mind that even if lenders are open to customers with bad credit, the company will still want to dig around your credit history to make sure you don’t have a history of bankruptcy.

Here are some things vehicle title loan lenders in Lauderhill might ask customers to share when they perform a credit check:

  • Proof of monthly income
  • Utility bill or other proof of residency
  • Updated vehicle insurance and registration
  • Name, phone numbers, and addresses of 2-3 references

Helpful Things to Know When Applying

When applying for car title loans, it’s one thing to know the basic requirements to get you started on the loan application process.

However, there are certain game-changing tips that will make it even easier on your journey in securing a vehicle cash loan in Lauderhill.

Getting a Copy Of Your Title

In case you find out that your title has been lost, damaged, or stolen, fear not: You can get a copy at the local DMV in Lauderhill.

Applying for a Duplicate Title

You can apply for a duplicate copy either by mail or in-person by visiting your nearest local county tax collector’s office and bringing the following:

  • New vehicles: $77.25 (electric title)
  • Vehicles previously registered in Florida: $75.25 (electronic title)
  • Out-of-state vehicles: $77.25
  • Adding a lien to a title: $74.25
  • Printed paper title additional fee: $2.50
  • Expedited fast title additional fee: $10

Replacing a Lost Title in Florida

To replace a lost title in Florida:

After application, the DMV will send the duplicate copy to you in the mail within 10 days unless you paid for expedited title services.

Rolling Over Your Loan

If people can’t pay off their borrowing within the agreed term, the lender may allow them to “rollover” their existing loan into a new one.

Rolling over your loan essentially extends it to give you more time to pay it off. However, roll over title loans come with their own interest rates and fees that you’ll have to pay on top of your original one.

Roll over terms are a good question to ask lenders when you’re canvassing for title loans in Lauderhill. Each lender will have their own roll over-loan terms, fees, and maximum interest rate.

Refinancing Your Car Title Loan

When customers find themselves in a situation where they want to get out of a title loan with a high-interest rate, they can consider refinancing it.

Refinancing means taking out another borrowing either from a bank or another type of lender at a lower interest rate to pay off your first loan.

While this alternative doesn’t free up your debt, it will definitely help you save some money on paying interest for rollovers each month.

Top tip: If you’re having a hard time getting approved for a better loan due to issues with your financial score, try tapping a local credit union for possible alternatives.

What You Need to Keep in Mind When Applying for a Car Title Loan in Lauderhill, Florida

Applying for car title loans is a quick and easy process to get cash fast when you need it. However, lenders may not disclose everything during your initial discussions.

Before you settle down with the first title loan lender you see in Lauderhill, keep these important points in mind.

There Are Fees on Top of Interest Rates

Before you sign on the dotted line, make sure to read your loan agreement and ask about APR.

What is APR?

APR, or Annual Percentage Rate, is the yearly cost of borrowing money over your loan term. By law, lenders must clearly explain the breakdown of your loan’s APR as part of the loan process.

Some hidden fees may not be included in your APR, such as:

  • Late Penalties – charged when you miss a loan payment
  • Prepayment Penalties – charged if you pay off your entire loan before the due date
  • Credit Report Fees – for doing background checks during the loan application process
  • Origination Fees – service fee for processing title loans

While not all lenders will have these hidden fees, it’s really best to review your options with title lenders in Lauderhill before you decide on borrowing from a company.

Beware of Balloon Payments

A balloon payment scheme involves paying small portions of your loan’s principal balance over the entire term and then paying a lump sum amount at the end of the loan’s term.

A balloon payment tends to be double the cost of your other payments, and can even go up to 70%-80% of your total amount.

This could prove a heavy sum to pay especially if you’re tight on money, so opt for an equally amortized repayment scheme if you can.

You Can Be Denied a Loan Even if You Have a Car

Despite almost all ads for car title loans claiming that anyone with a car can be guaranteed fast money, you can actually be denied a loan by a title lender.

Common reasons for denied applications include:

  • Bankruptcy or history of bankruptcy
  • Unemployment
  • Bad credit record (ex. multiple findings of continuous missed payments)

Top tip: If you’re retired or disabled but receiving benefits from your state, you can use this as a source of income to present to your lender.

In Summary

Car title loans are not only a quick solution to getting the extra money you need but are much more affordable than other types of financing like payday loans.

However, just like with all loans, it’s best to educate yourself on all the costs that you might need to pay for on top of just your loan and interest.

Read over this article again and don’t rush in picking just any lender offering you title loans. Careful discernment may save you a lot of money in the long run!

Have a bad credit score?
We will help you!

It’s not that hard as you think! Getting started
is just one click or phone call away

A few simple steps for
a free quote

Select the amount of cash you want

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