With title loans from Florida Title, the total cost of borrowing is dependent upon a few factors:
- How much you receive/borrow on your title pawn;
- The duration of your title pawn;
- How much you pay each month towards your principal balance.
Like any loan you receive, the quicker you pay the loan back, the more you save in the interest for that loan. Title loans with Florida Title are designed to cater to the customer (that’s you!). You are not required to close the loan out in 30 days and reborrow if needed, like a short-term cash advance or payday loan, with title loans from Florida Title, you have the flexibility to make minimum payments if that is most convenient for you at that time. You are not required to come up with the full amount owed in 30 days. A minimum payment is due every 30 days that is your interest payment, which is dependent on the amount borrowed or the principal balance outstanding on your transaction in the event that you have paid down on your principal balance, you are only charged the finance fee (or interest) on the current outstanding principal balance of your account with Florida Title.
The best and most loved program by our customers is the 30-day interest free promotion that we are able to offer to first time borrowers of Florida Title that meet the underwriting criteria for the promotion. With a 30-day interest free title loan from Florida Title, and unlike the competitors, your 30-day interest free promotion is valid the life of your account! This means that you do not have to repay the amount borrowed in the first 30-days to save 30-days of interest! If you are able to repay the transaction in the first 30-days, you will only pay the amount borrowed, all interest accrued will be waived and your account will be paid in full. However, most customers are not able to repay the full amount borrowed in 30-days so that is why we allow the promotion to be valid the life of the loan. How it works is you pay at least your minimum payment every 30-days and when you are ready and able to pay off the account with Florida Title, we will waive the current, up to 30-days, worth of interest that is owed on your account, and you will only be responsible for the unpaid principal balance!
30 Days Interest Free; Not all customers will qualify for 30 Days Interest Free Promotion. In order to qualify for the 30 Days Interest Free Promotion, you must meet the following criteria: 1) Have a lien free title to your vehicle that has a pawn value of at least $1,000; 2) Have verified, documented income of at least $1,000 a month after taxes; 3) Provide an acceptable proof of Residency such as a service bill or bank statement in your name. You must open an account with Florida Title in order to receive the promotion. Promotion must be requested to a Florida Title representative prior to the completion of your Motor Vehicle Pawn Transaction in order to qualify. Promotion only valid one (1) time, per customer.
If you have additional questions, we can help! Call now to speak to a Florida Title representative at (850) 458-2274 or get preapproved over the phone or if you prefer, you can submit your information on our website to get an instant email quote for your title loan!