Auto Title Loan FAQ

What is an auto title loan?

An auto title loan is a secured loan using the title of your vehicle as collateral. With an auto title loan, you can receive the cash you need and still drive your car. If you need cash fast, apply for an auto loan now Fill out the “Get Started Today” web form today!

What is needed for an auto title loan?

To obtain an auto title loan, you will need:

  • Florida Motor Vehicle Title – the title needs to be free and clear, and cannot be a salvage title or a rebuilt title
  • Valid Driver’s License
  • Valid Vehicle Registration
  • *Car Insurance (see below)
  • Two current bills in your name at your current address
  • Proof of income in the form of two current paycheck stubs OR two current bank statements

Do I need to be employed to get an auto title loan?

Yes, proof of employment is required in order to obtain an auto title loan. If you are self-employed, or if you are receiving government benefits, two current bank statements can be accepted as proof of income.

How long does it take to get approved for an auto title loan?

We can approve your loan within a matter of minutes. Our storefront loans take 25 minutes from start to finish. The online loan process is also funded same day.

How is the interest computed on this type of loan?

The maximum interest rate shall be 30 percent per annum, computed on the first $3,000 of the principal amount as computed from time to time; 24 percent per annum on that part of the principal amount as computed from time to time exceeding $3,001 and not exceeding $4,000; and 18 percent per annum on that part of the principal amount as computed from time to time exceeding $4,001 and not exceeding $25,000. The original principal amount as used in this section shall be the same amount as the amount financed as defined by the federal Truth in Lending Act and Regulation Z of the Board of Governors of the Federal Reserve System. Loan APR is less than 35%.

Can I get a title loan from any location in Florida?

Yes. We can process your auto title loan 100% online from any city in Florida. Same day. If you are close to our main office, you may also come into our office located at 3489 Davie Blvd. Fort Lauderdale, FL 33312.

Can an auto title loan affect my credit score?

Like any loan, an auto title loan involves scheduled payments over a set period of time until the loan is paid back. While taking out the loan itself won’t have an immediate noticeable effect on your credit score, making on time payments in full will improve your credit score slightly over time. However, failure to make payments on time and in full will cause your score to drop.

Will bank holidays affect my loan?

Certain bank holidays can affect when you receive your funding, but only if they fall on weekdays.

Does Auto Loan Store run credit checks?

We do not perform credit checks. We may report loans that are in default to credit reporting agencies.

Do I need a clear Florida Motor Vehicle Title to get an auto title loan?

Yes, a free and clear Florida Motor Vehicle Title that is not a salvage or rebuilt title is required for an auto title loan.

Does the Florida Motor Vehicle Title need to be solely in my name?

Your name must always be on the title of the automobile. If your name is on an “and” or “or” title, you can still obtain an auto title loan. If your name is on an “or” title, the other person does not need to be included in the loan application. If your name is on an “and” title, the other person must also be included in the application in order for you to obtain the loan.

How much can I borrow using my car title?

The amount of money you receive in your car title loan depends on the wholesale value of your automobile. Please contact us here so that we can respond to you on an individual basis.

Is there a minimum or maximum amount I can borrow?

Here at Auto Loan Store, our minimum lending amount is $500.00 and our maximum lending amount is $5000.00.

How long is the duration of an auto title loan?

12 month simple interest amortized loan.

Can I pay off my auto title loan early?

Yes, you can. If you are planning on paying off your loan early, be sure to ask us about our early payoff discount. There is no prepayment penalty and we will prorate your interest.

How do I make my auto title loan payments?

There are several different options available to you. You can:

  • Set up automatic ACH debit payments, so that all payments will be debited from your checking account on the date that they are due
  • Set up non-automatic ACH debit payments, so that you can call every month to authorize the debited payments from your checking account
  • Mail a cashier’s check or money order in a self-addressed envelope that we supply every month when your payments are due
  • Pay in store each month with a cashier’s check or money order

What happens if I default on my auto title loan?

If you think that you are going to default on your loan, we encourage you to contact us immediately. We want to work with you and help you find the best possible solution for paying off your loan obligation. However, if we are not able to resolve your loan obligation and the loan is defaulted on, we will have the right to repossess your vehicle.

Is my personal information safe with Auto Loan Store?

Yes! Our website is designed with security features to make sure that your personal information is protected. We use firewalls to block access to our customer’s information. All information is processed through our third party verification companies in accordance with our privacy policy for the purpose of fraud prevention and detection. All Florida Motor Vehicle Titles are safely stored as e-titles with Florida Department of Motor Vehicles in Tallahassee, and once the lien is satisfied, the FDMV in Tallahassee mails the titles directly to the address on file.

What is the best way to apply for an auto title loan?

Click here to apply online!  Or you can call us at (888)573-0132 or (954) 785-3138 to get started and receive a FREE auto title loan quote.

My question wasn’t answered here.

We would love the opportunity to answer all of your questions. If your question wasn’t answered here, please feel free to give us a call, stop by, or fill out our contact form.

* Proof of Car Insurance – prepaid for 6 months with a $500 deductible on comprehensive and collision. If you have the required car insurance you will need to have your car insurance company name Today’s Financial Services Inc., additional insured lien holder/loss payee with a 15 day cancellation notice. If you do not have comprehensive and collision on your policy, or your car insurance is not prepaid for at least 6 months with $500 deductibles; we can provide an optional debt cancelation damage waiver at a small cost to you.


Auto Loan Store

3489 Davie Blvd.
Fort Lauderdale, FL 33312
Phone: (954) 785-3138

Disclaimer »

Auto Loan Store

3489 Davie Blvd.
Fort Lauderdale, FL 33312
Phone: (954) 785-3138