The best thing about getting a title loan with Lake Title: No credit or bad credit is not an issue with us! At Lake Title, your credit will never play a factor in your approval for your title loan request. We know it can sometimes be difficult to get the money you’re needing and that it can be extremely stressful and overwhelming to apply for a traditional loan. With Lake Title, you are more than your credit score! The equity your vehicle holds and the ability you have to repay your title loan is what determines your approval amount.
When you apply for a title loan, your vehicle is the determining factor in qualifying instead of your credit score. When you choose to get a title loan with Lake Title, you are authorizing us to secure a lien on the title of your vehicle which is used as the collateral for your transaction with Lake Title. The lien with us is secured the same as it is when you purchase a vehicle at a dealership or finance through your bank. The difference between a title loan and an auto financing loan is that with an auto financing loan, you are typically purchasing a vehicle; whereas with a title loan, you are entering a short-term transaction that allows you access the equity your vehicle holds. In fact, we actually have programs that allow you to receive a title loan, even if you are still paying an existing lienholder!
Have additional questions regarding a title loan or interested in the programs we offer for customers with existing liens? Please reach out to one of our friendly representatives in the office at (352) 692-2274 and we will be happy to assist you!