Title Loans in Clearwater, Florida

When you take out a loan, it can be for a short or long term. Most bank loans require a term of three months or longer. Title loans are short-term. Other short-term options include payday loans, but payday loans tend to have a higher cost for the borrower. Loans can either be secured or unsecured as well. Most personal loans from a bank are unsecured, which is why the loan applications are usually so involved and there can be approval delays of a day or more. Title loans in Clearwater are secured with the physical title of a car or truck that you own free-and-clear, which means that the loan:

• Amount can be $100 or less
• Term can be as little as 24 hours
• Will likely process in just minutes

There’s a stark contrast between title loans and small personal loans from a bank. The Bank of the Ozarks on Court Street considers $5,000 to be a small loan, and Usameri Bank on Gulf To Bay Boulevard considers three months to be a short term. Area banks often want control over the purpose of a loan and are less likely to give you a loan for discretionary purposes. When taking out a title loan, on the other hand, you can use that money to pay small bills, buy groceries and so on.

Title Loans Clearwater: Applying Online with Platinum Lending

Getting title loans in Clearwater is easier than ever because you can apply for them online and even complete the process entirely from the comfort of your home. Platinum Lending is a leading provider of car title loans online and only requires a small bit of information to get started:

• The vehicle’s year, make and model
• Estimated mileage
• Full name and zip code
• Email address or phone number

Navigate to the Platinum Lending website. Click on Apply and then Car. Fill in the short form with the information mentioned above, and then click Submit to continue. You’ll immediately receive an estimate online that gives you an idea of how large a loan is available to you. You don’t have to accept the full amount, and a loan representative will contact you shortly to discuss loan options and help you finalize the process. From beginning to end, this often takes less than 15 minutes.

Clearwater Title Loan Regulations in the State of Florida

Florida has a number of laws on the books that provide consumer protection in regard to title loans in St. Petersburg and throughout the state. All lenders are required to be licensed with the Florida Office of Financial Regulation. In addition, lenders must disclose up front in writing all details of the loan, including interest rates and total cost. The law also cap interest rates based on the full amount borrowed. You can be charged up to 30 percent on the first $2,000 borrowed, 24 percent on the next $1,000 borrowed and 18 percent on any amount above $3,000. Loans are also limited to:

• Borrowers 18 years of age or older
• A 30-day initial borrowing period
• One 30-day extension if both parties agree

The Advantages of Automotive Title Loans in Clearwater

• Fast processing times
• Small loan amounts
• Short loan periods
• Option for early repayment

When you take out a loan against a car, approval is all but guaranteed. Since your loan is secured, the lender doesn’t have to bother with income verification, a credit check or background screening. Although you use your car as collateral, you don’t actually hand the car over and can continue to use it. Loans can be secured within just minutes, and you have a great deal of flexibility when it comes to the amount of the loan, the loan term and the repayment schedule.