Title Loans in Kissimmee, Florida
Arranging quick cash is extremely necessary, especially when a sudden financial crisis occurs in your life. In these days, money can be raised from various sources of lending. But you need to take certain factors into consideration while choosing the right loan, which not only rescues you from the short-term financial crisis but also enables you to plan for future prosperity. Some of the major factors include the size of the loan, interest rate, and approval process. After critically analyzing these factors, the residents of Florida’s Kissimmee city have selected title loan as the most affordable source of credit as compared to other available sources of credit.
Title loans Kissimmee are the most effective financial solution, helping you to easily overcome your day-to-day financial problems and lead a peaceful life. With the help of this short-term loan facility, you can cover a range of financial requirements of your family, including renovation of home, paying a utility bill, funding the education of your children, paying off urgent medical bill payment, and holiday plan.
Turn Your Vehicle into Fast Cash!
Turning your vehicle into fast cash is the basic concept behind the Kissimmee title loan. In other words, you can use the title of your vehicle as collateral to obtain the cash as fast as possible. A title loan, also known as a vehicle title loan or a car title loan, is generally processed and approved in less than an hour. In Florida, the title lenders provide loan amount worth more than 50% value of your vehicle. The best part is that they will not keep your vehicle since they appreciate its importance in your daily life. Hence, they only retain the title paper of your vehicle and allow you to enjoy its normal drive.
Apart from this, another great benefit of Florida title loans in Kissimmee is that it can be acquired by even the bad credit people, who are usually rejected by the mainstream lenders for affordable loans. Moreover, the title loan companies never verify your credit history; rather they verify the condition of your vehicle to determine the loan size.
Why Choose a Kissimmee Title Loan?
Whenever you are in financial pickle or face any sudden arisen financial crisis, you should immediately choose the title loan without any delay by virtue of the following reasons, such as:
- Hassle-free Approval Process
- All Credit Scores Accepted
- Monthly Payback System
- Take Your Car Back
- Low-Interest Rates
- Instant Cash
How to Obtain a Title Loan in Kissimmee?
The entire process to get title loans in the Orlando area very simple. You just need to fill out the application form with minimal details and submit documents, such as valid ID proof, residential proof certificate, monthly income proof and vehicle title paper. The title loan company will verify your application form and documents. Then it will do a quick verification of your vehicle to decide the loan amount. You may get the cash in less than an hour.
Legal Provisions Relating to Title Loans in Kissimmee, Florida
- A title loan company cannot operate in Kissimmee without holding a license from the state Office of Financial Regulation under the Florida Title Loan Act (Chapter 537 – Florida Statutes).
- As per the state law, the lender and borrower must sign a written agreement before the loan is extended.
- The maximum interest that can be levied on a title loan in Kissimmee is 30% on the first $2,000 borrowed, 25% on amounts above $2,000 and up to $3,000, and 18% on any amount exceeding $3,000, as per the law.
- In Kissimmee, interest rates on title loan has to be calculated as annual simple interest and cannot be compounded. If a lender knowingly imposes interest above the permitted rate, the title loan agreement ceases to be valid and the lender loses any right to collect any amounts, including the principal, owed on the loan.
- The repayment term is 30 days as per Chapter 537 but this can be extended for another 30-day period if both parties consent in writing. The interest rate charged for any extension cannot be more than the rate mentioned in the original agreement.
- The lender is restricted by law from levying a prepayment penalty in Florida.