Swift Title Loans New Florida Locations

LOS ANGELES, CA, July 23, 2022 /24-7PressRelease/ — At Swift Title Loans, we would like to advise our California customers that all branches in California have been closed. However, in Florida we have opened additional branches to better serve our customers. Whatever your urgent cash needs, we want to help! Please feel free to visit any of our Florida offices to complete your title loan application or to speak with our customer service agents.

Take advantage of full-service title lending products in Florida

If you need money fast, we’d be happy to help you with a Florida title loan. Although our California title lending offices are permanently closed, we are available in Florida to service your title lending requests. When you walk into one of our offices, you will meet a friendly and professional team of customer service agents who will be happy to guide you through the application process.

If you are in a difficult financial situation and you don’t know where to turn, come talk to us. After explaining the process of how title loans work, we can help you every step of the way. From filling out your easy loan application form to signing a loan agreement, we want you to understand how easy title loans can help you. Quickly get the money you need for any purpose.

Use of securities lending

Title loans simply use something of value that you own as collateral for a quick loan that you can use for any purpose. The reason they are fast is because you are securing your loan with a valuable asset. When comparing a title loan to an unsecured loan, they may be easier to obtain.

This is especially true for anyone who has a bad credit score. With a bad credit status, it can be very difficult, if not impossible, to get a bank or other financial institution to give you money. But this is not the case with title loans. Highlighting an asset, like a car, reduces risk for lenders and helps get approval fast, even with bad credit. When you get the money, you can use it as you see fit!

Win-win loan situation

Whatever money you need, you won’t lose anything by applying for a Florida title loan. Even though the California offices are permanently closed, there are many new locations in Florida to help you. By providing us with some basic details, you can get a quick response to your money request.

If you are approved and get a loan offer to sign, you are under no obligation. Read the terms of the offer and if you agree with them, sign it and we will prepare your money! There are no hidden charges or prepayment charges to worry about.

get your money

After signing the loan document in our offices, we will be happy to prepare your money. We will require you to submit your title before we collect your money. After that, you are good to go!

You can pick up the money at one of our offices in Florida or you can have a check mailed to you. If you prefer other options for getting the money, such as a direct transfer to your account, you can discuss this with one of our customer service team members.

Do not wait to contact us!

We are ready to serve you now! Come into our office and let us help you with money quickly and easily!

Let’s start now with your money!

At Swift Title Loans, we take our role in the lives of Florida residents seriously. We want to lend money fast when you need it, support your financial goals, and inspire you to keep on the right track. We want to help you with the money you need for whatever purpose, without putting obstacles in your way. Contact us the next time you want a quick loan.

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How do car title loans work? -Review and Best Practices

Car title loans work by pledging your car for around 25-50% of its actual value in exchange for a short-term loan.

Affiliate Disclosure: Automoblog and its partners may be compensated when you purchase the products below.

If your bank account isn’t looking so great and you have bad credit, you may have considered a car title loan as a quick way to get some cash. Although they are relatively small sums of money, car title loans can be risky if you don’t have a good handle on your finances.

This article will look at what car title loans are, how they work, and weigh the benefits and risks of getting one. To help consumers make the best financing decisions, our research team also combed through the industry to identify the best car loan companies.

What is a car title loan?

A car title loan is a short term secured loan where the amount you borrow depends on the value of your car. You borrow up to a specific amount or percentage of the value of your vehicle in exchange for the title to your car. Typically, car title loans are only granted to those who have paid off their vehicle in full. However, some lenders allow you to take out a loan when your car is almost paid off.

There are two types of car title loans:

  • One-time payment loans: the borrower must pay the full amount of the title loan plus interest charges in one month or less.
  • Installment loans: these car title loans can be repaid with interest over three or six months, depending on the lender.

Even though “car” is in the name, car title loans may be available for motorcycles, boats, and recreational vehicles like ATVs.

How do car title loans work?

Unlike payday loans, which serve a similar purpose, car title loans work by putting your vehicle up as collateral. These secured loans are usually for small sums of money and often have to be repaid within a short period of time.

For example, imagine you have a car worth $10,000 and need $2,000 for a sudden emergency. Title loans let you borrow against your car, like taking out a mortgage on a house, so you can get that money fast. Until you repay the entire loan, including interest, the lender reserves the right to put your vehicle on rest.

The Pew Charitable Trusts reports that the average car title loan amount is $1,000, but it can range from $100 to $10,000. Because these are short-term loans – with maturities typically between 15 and 30 days – borrowers usually have to pay off the balance in one lump sum.

How to Get Your Car Title After Paying Off a Loan

If you are repaying a car title loan, you notify your local DMV and submit the required documents they provide for your state. After this point, your car title will be considered “free and clear”, which means that you have full ownership of the vehicle.

Car Title Loan Application Process

The process for getting a car title loan is relatively simple:

  1. First, you complete an application. You then show the car, title, and a copy of your photo ID to the lender. You may be asked for duplicate car keys.
  2. If the loan is approved, the car title lender exchanges the money and retains title to the vehicle.
  3. At the time of repayment, you pay the lender a monthly fee in addition to the amount borrowed.

Monthly fees for a vehicle title loan tend to be very high. According to Federal Trade Commission, the average fee is 25%, or an annual percentage rate (APR) of around 300%. It can be expensive.

For example, suppose you take out a $500 car title loan with a finance charge of 25%. Twenty-five percent of $500 is $125, which is added to the final amount due. So, at the time of repayment, you owed $625.

Where to apply for a car title loan

Borrowers can get car title loans online and in person. Notably absent from the auto title loan application process is a credit check. Indeed, non-payment of the loan means that the lender can repossess your vehicle.

To approve you for a car title loan, most lenders will require a clear title. This means that you have reimbursed the vehicle. However, some lenders may simply ask you to prove that you have equity in the vehicle.

Why are car title loans risky?

With a car title loan, you not only risk losing your car, but also locking yourself into a cycle of debt. If you are unable to repay the loan, the lender may allow you to “roll over”. A rollover occurs when a lender lets you keep the loan money for an additional 30 days, but guarantees that you will have to pay an additional monthly fee.

Reversals are quite common. In June 2019, the Consumer Finance Protection Bureau (CFPB) surveyed consumers who had obtained auto title loans in the previous six months. It revealed that 83% of respondents still owed money on their loans.

The CFPB also reported that around 20% of borrowers experience repossession if their loans are not repaid in full. According to Forbes, auto title lenders make most of their revenue by allowing borrowers to take out new loans to pay off existing ones. This cycle of small loans becoming long-term debt also ensures business continuity.

What are the pros and cons of car title loans?

If you’re considering taking out a car title loan to meet unexpected expenses, you should consider the pros and cons:

Benefits of car title loan Disadvantages of car title loan
No credit check means approval for borrowers
with bad credit
Monthly payments can turn into long-term debt
You have access to quick cash Your car could be repossessed
Late payments don’t affect your credit score Interest rates are high compared to other options

Car title loans can be attractive to borrowers with poor credit because most title lenders do not perform credit checks. Plus, your credit score won’t be affected if you’re late on a payment. That said, the quick access to cash with a car title loan rarely justifies the high interest rates and the risk of losing a valuable asset.

Alternatives to Car Title Loans

Given that the car title loan data is less than stellar, going another route is probably a smarter financial move. Here are some alternatives to displaying your car title:

  • Payday advance: If you are in good standing with your employer, you may be able to receive part of your salary sooner.
  • Friends and family: If you want to avoid a financial institution altogether, try talking with friends and family to see if you can set up a loan agreement with a payment plan.
  • Credit card: Credit cards have set limits and you will be charged interest if you do not pay your balance by the end of the billing period. Even so, credit cards have lower interest rates than car title loans.
  • Personal loans: These installment loans can be used for almost any financial need and are available from banks, credit unions, and online lenders. They often have repayment terms of one to five years and their interest rates are much lower than auto title loans.

Car Title Loan Review: Conclusion

Car title loans are very risky compared to other loan options and can put you in a cycle of debt. We recommend shopping around and comparing options before deciding on a car title loan.

Top Auto Loan Recommendations

Whether you’re financing a car or using one as collateral, it’s important to compare options to make sure you’re getting the best rate. It is wise to always read the terms of each loan and check for potential penalties. You can also take advantage of online prequalification offered by many financial institutions.

How Car Title Loans Work: FAQs

Below are some frequently asked questions about how car title loans work:

How much title loan can I get for my car?

According to the CFPB, the average car title loan is around $1,000. The usual loan limit is between 25% and 50% of the value of the car.

How easy is it to get a car title loan?

Getting a car title loan is quite simple. The borrower completes an application and lets the lender inspect the vehicle and its title. If ownership of the vehicle is clear and the lender approves the application, the borrower surrenders the title in exchange for a loan.

How do car title loans work?

Car title loans are small, short-term loans subject to high interest rates. With a car title loan, a lender retains title to your vehicle as collateral. If you do not repay the loan, the lender has the right to repossess the vehicle.

Do car title loans affect your credit?

Most car title loans do not require a credit check. This means that a lender likely won’t report payments to credit bureaus because they can repossess the vehicle to settle the debt.

2022 Yamaha NMAX 155 Scooter (Bike Review)

As commuters currently struggle with soaring fuel prices, it’s good to know there’s an affordable solution in the form of the stylish 2022 Yamaha NMAX 155 scooter. town and ease the pain at the gas tank.

Featuring a lightweight rigid frame, aggressive and sporty design with dual LED headlights, smart technology, driver-focused ergonomics, and safety features like ABS and traction control, the NMAX 155 is full of good stuff.

Powered by a blue-core 155cc 4-stroke engine that provides plenty of power to get you up to speed quickly, the Yamaha lets you beat the traffic with ease. The V-belt automatic transmission is also smooth and will happily cruise at 80 km/h.

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It can also handle highway speeds, which is great for longer trips. The powertrain is very fuel efficient and, combined with Yamaha’s new stop/start system, means you don’t have to worry about stopping too often for juice.

We averaged 3.0litres/100km, which would easily see around 250km of potential distance from the 7.1litre fuel capacity. The suspension is made up of a telescopic fork with 100mm of travel up front and a unitary swingarm with 85mm of travel and twin shocks in the rear.

Scooter Yamaha NMAX 155 2022

The suit offers a nice ride overall and does a decent job of soaking up bumps. The rear also has an adjustable sport preload which is really easy to use when you need to carry a passenger.

Braking performance is also very good, with 230mm front discs up front and a 230mm rear disc paired with the safety of ABS. Using the left brake lever applies the front and rear brakes equally, which we liked.

There is a but here though, as using this feature under heavy braking will tend to lock the rear wheel. In wet weather, so we suggest you stay away from double braking.

Yamaha’s smart key system comes standard, allowing you to start the NMAX as long as you have the key fob in your pocket or bag. The scooter detects the presence of the key and allows the use of the main switch button without having to insert a key.

We liked this feature, as it also lets you power on/off, lock the steering, and unlock the seat and fuel door. It’s super convenient to just turn the knob on the power off and just drive off knowing your ride is safe until you get back.

Scooter Yamaha NMAX 155 2022
Scooter Yamaha NMAX 155 2022

The build quality is great too, and nothing feels cheap. Every detail is well thought out, right down to the stylish fold-down passenger footpegs and grab handles that are cleverly integrated into the subframe design.

The inner front fascia also features two deep storage compartments, one with a 12-volt outlet large enough to charge the phone. The other has a door, which is great, but we would have liked to see the one with the socket have the same.

This would ensure that our electronic devices can be safe and protected from the elements while charging. A large 23.3-litre under-seat storage compartment is advertised as holding an XL full-face helmet, but in reality it doesn’t.

Despite multiple attempts, we were unable to fit a medium-sized full-face helmet in there and lock the seat. That aside, when you have the seat open, spring-loaded hinges hold it in place, making storage easy to access.

Likewise, the handlebar-mounted switches are well-positioned and easy to use on the fly. There’s a nice shaped cover that makes the setup look neat and tidy, but can make it difficult to mount a phone for navigation.

Scooter Yamaha NMAX 155 2022
Scooter Yamaha NMAX 155 2022

The seating position is comfortable and we particularly liked how the footrests extend forward at a 45 degree angle, allowing you to stretch your legs out into a very comfortable and supportive position.

The 765mm seat height made it easy for us to come to a stop with our feet flat on the ground. The LCD screen is a good size and the speed display is large, making it easy to see with the quickest glances.

It also has a decent number of features including dual trip odometers, fuel and temperature gauges, average fuel, instant fuel, oil consumption and battery voltage. Connectivity is also possible with your Bluetooth-enabled smartphone, via the Yamaha MyRide app.

This allows you to use features such as a maintenance service schedule, trip details and, for the forgetful, it saves your last parking location. With a weight of 127 kg, it is also quite easy to stand up on the center stand.

There are rear grab handles that make it easier to lift up and down on the kickstand, plus a handy side kickstand that’s easy to use but could fall off if parked on a slope.

Scooter Yamaha NMAX 155 2022
Scooter Yamaha NMAX 155 2022

For us, the 2022 Yamaha NMAX 155 is the perfect package for a new or inexperienced rider, with excellent handling and light weight making it a cinch to negotiate traffic and a ton of fun to ride.

The LED headlights illuminate the road perfectly and the windshield protects the rider from the wind. It’s priced at $5899 and comes in Icon Blue (as tested) and Matt Grey.

Our test bike was supplied by Yamaha Australia. To learn more about the 2022 Yamaha NMAX 155, contact your local Yamaha dealer.

What are car title loans

What is a title loan? Car title loans are a type of secured loan where borrowers can use their vehicle title as collateral. Borrowers who obtain title loans must allow a lender to place a lien on their car title and temporarily turn over the hard copy of their vehicle title. This way, if the borrower defaults on their loan, the lender can seize the vehicle and sell it to recover their losses. Although this may seem like a harsh measure, it is actually one of the most lenient options available to lenders.

How do title loans work? Securities Lending in Virginia are a type of secured loan where the borrower uses his vehicle as collateral. The loan amount is based on the value of the vehicle and the borrower usually has 24 months to repay the loan. If the borrower is unable to repay the loan, he may be subject to late fees, penalties and interest rates.

Benefits of securities lending

What are the benefits of home loans? The biggest advantage of title loans is that you can get financing fast. Another benefit of making your payments on time is that it shows the lender that you are responsible and that you take the loan seriously, and you will improve your credit score. This can go a long way in getting the lender to work with you if you run into trouble later.

What are the disadvantages of home loans? One of the main drawbacks is that if you can’t repay the loan, you risk losing your car. Another downside is that title loans usually have high interest rates, which can make it difficult to repay the loan. Finally, title loans are usually for small dollar amounts, which can make them difficult to use for larger purchases.

How much can you borrow with a title loan? The average amount you can borrow with a title loan is around $1,000, but this amount can vary depending on the lender and the value of your car. Some lenders may offer you more money, but they may also charge higher interest rates. As much money as possible, you will want to shop around with lenders keeping in mind that the interest rate is important as it will affect how much you end up paying back in the long run.

Terms with title loans

What is the interest rate for a home loan? It will depend on the lender. Some lenders will charge three-digit interest. It’s best not to choose them, you have to shop around for the best title loan out there. Securities lending companies must comply with the CFPB.

What are the repayment terms for a home loan? The repayment terms of a title loan may vary depending on the lender. Some lenders may offer a longer repayment period with lower interest rates, while others may have a shorter repayment period with higher interest rates.

It is important to compare the repayment terms of different lenders before deciding on a loan. Some lenders may offer a lower interest rate but a longer repayment period, while others may have a higher interest rate but a shorter repayment period. It is important to consider both the interest rate and the repayment term when choosing a company.

What happens if you default on a title loan? The lender can repossess your car and sell it to pay off the loan. You could also end up owing the lender more money than you borrowed in the first place.

Are there any restrictions on how you can use the money from a title loan? You can use the money from a title loan for anything you want. There are no restrictions. You can use the money to pay bills, pay for emergency expenses, buy a new car, or even take a vacation. The only restriction is that you must use the car as your primary mode of transportation for the duration of the loan. This means you cannot sell the car or use it as collateral for another loan. If you do, the lender can sue you for the money you owe, plus legal fees. It is therefore important to make sure that you can afford the car before signing on the dotted line.