The Customer’s Vehicle Worth

Many customers believe that title pawn companies only accept new, expensive automobiles.  While there may be quite a few title pawn companies who conduct business in this way, we are not one of them. We believe cars are very valuable to the people who own them. Different people can afford different types of cars at various ages. It is our goal to offer the pawn you need based on the car you own and your ability to repay.

Title Loan Without Bringing in My Car

Some customers enjoy their old trucks, others classic cars and the great majority own their vehicles. We will provide a title pawn on personal cars, trucks, and vans. Our appraisal process is thorough, and we ensure that the pawn value of the vehicle is reflected in the pawn amount we offer. As long as you own the vehicle with a clear title and can provide proof of income, we can get you through the approval process and have the money in your hand fast.  There are cases where proof of income is not required but if you have proof of at least $1,000 or more net income a month then you may be able to qualify for more at Florida Title.

Because we understand how important vehicles are to their owners, we differ from many other title pawn companies. First, we do not ask you to hold onto your car during your pawn repayment process. The car can still be driven by you while repaying the title pawn. We require the car title to serve as collateral on the pawn.

How to Apply for A Car Title Pawn at Florida Title

Applying for a title pawn is a quick process.  You can start the process using a computer or mobile device that has internet access.  Providing some quick information on our online application.  Once you are notified that you are pre-approved you can drive the vehicle to one of two locations near and around Pensacola, FL, or complete the online process by providing the necessary documents as well as photos of the vehicle.  The customer service representative will advise exactly what photos are required.  You will be required to provide the following information:

  1. Your Vehicle for a Quick 5-Minute Inspection: A quick examination of your vehicle will allow us to get a more accurate value of your vehicle and determine how much you are qualified to borrow using the title of your vehicle.
  2. A Free and Clear Vehicle Title in Your Name: Florida Title requires that the free and clear title is in your name.  If there is another party on the title with you how they are listed on the title will determine if they have to also be present to sign the title pawn documents.  If there is an “and” listed between names both parties will need to be present.  If the title is “or” only the person doing the pawn is required to be present and is authorized to take the title pawn without the other party involved.
  3. Proof of Residence: For legal and administrative purposes Florida Title will require that you provide proof of residency for your current residence.  You can do this by providing a current phone bill or utility bill in your name and with your current address.  A recent bank statement reflecting your current address is also acceptable.
  4. Proof of Income: Although not always required if you have proof of income of $1,000 net or more you may qualify for a larger amount.

 Benefits and Risks

With any type of financing, there are pros and cons that you should be aware of before agreeing to use your vehicle title as collateral.

Benefits are:

  1. Process is fast and easy.
  2. No Credit Checks so no matter whether you have great or poor credit you may still be able to qualify.
  3. Get the funds you need quicker than a traditional bank loan.

Risk are:

  1. Because you are using the title of your vehicle you are risking losing your vehicle if you cannot repay the title pawn. That is why it is always important to only borrow the money you need to cover unexpected expenses and repay the full amount borrowed within 30-days of receiving the money.
  2. If you do not repay within 30-days Florida Title will work with you by extending your title pawn for another 30-days, but you will be required to repay at least the interest fees incurred the first 30 days plus any late fees if past due.

Be Sure to Read and Fully Understand the Terms of the Agreement

Once you have qualified and completed all requirements the title customer representative will go over the terms of the contract outlining how much is owed and when payment is due.  They will also cover interest rates and any fees that are incurred.  At Florida Title we offer a 30-day interest-free title pawn for those who qualify.  This could be a great opportunity if you qualify because the pawn is due in 30-days or less, so this means you only pay back the money you borrow with no interest.  However, if you cannot repay the title pawn in 30-days there is an opportunity to have your title pawn extended another 30 days but you will be required to pay the interest charges for the first 30 days.

How Quick Can I Get My Money

Once you have completed the agreement you will walk out with a check in hand the same day.

Deciding if this is the Right Option for You

Using your vehicle title as collateral has its pros and cons but if you decide that this is the best option for your situation the Florida Title qualified staff is available to help you through the process.  You can call us at our South Pensacola Office (850) 458-2274 or our North Pensacola Office (850) 456-2274 for assistance.