Title Loans in Hialeah from Colfield Financial

Many people rely on title loans in Hialeah to pay for visits to hospital emergency centers, plumbing repairs or unforeseen bills. There is no doubt that cash from a title loan can come in handy, but people also use their funds for all kinds of other purposes. Some folks pay off high interest debt, others catch up on back taxes, and some people use funds to bridge the gap in between paychecks or to start a little business of their own. In addition, title loan companies like Colfield Financial are always open when you need them for quick cash. There is no need to make an appointment or round up a bunch of personal documents. Documentation is kept to a minimum on applications, and you can even apply with bad credit. You can count on us for quick loan approvals and fast payouts within a day of applying. If you have income, own a car and have a clear title, we can work a deal to get you the cash you need now from title loans Hialeah.

Fast Cash Begins With the Application Process

The sooner you get your application turned in for an auto title loan in Hialeah, the quicker you’ll get your money. We’ve gone to great lengths to see that you have convenient methods for applying. Most people prefer to fill out our online application, but you may also choose to apply at a nearby loan store in Hialeah or speak with a representative on the phone.

What's Required for Loan Approval?

  • Income from a job, retirement income or another acceptable source of income to repay the loan.
  • Proof that you are old enough to enter into a contract. Applicants must be at least 18.
  • You must own a vehicle that is paid off and hold a clear title.

Completing Your Loan Application

To start the loan process, we require an application with the following information:

  • Your full name, zip code and a telephone number.
  • The make, age, model, body style and a mileage estimate for your auto.

Within minutes of applying, we will send you an instant loan estimate. So, you will know immediately how much money you could qualify for. It is up to each individual borrower to decide whether the loan amount will be helpful for their financial situation. Applications and loan consultations are free of charge.

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How Loan Amounts Are Determined

Essentially, loan amounts are mostly determined by the market value of your auto used as collateral. Most lenders allow about 50 to 75 percent of the car’s value as a basis for car title loans in Hialeah. However, we also take into consideration your current income and your ability to repay the loan. Car values are obtained from Kelly Blue Book based on a description of the vehicle’s condition, age and mileage. All of this information is merged together to come up with an acceptable loan amount that you can afford to repay.

Credit Reports Aren’t Used for Qualifying

Unlike banks, which rely heavily on credit scores and credit reports to determine whether you would be a good risk for a loan, we don’t use them. Because loans are secured with auto titles, we can feel secure that the majority of our clients will make every effort to pay on time.

Borrowers Are in Charge of Loan Funds

Some lenders require that you state the purpose of your loan. However, Colfield Financial feels borrowers should decide how they’ll spend their loan funds from an auto title loan in Hialeah.

Free Use of Your Car

We know many of our clients rely on their autos as their primary source of transportation. Therefore, there are no driving restrictions during the loan period, and we won’t impound your car. You may continue driving your auto just like you always have.

No Penalties for Early Payoffs

If you are in a position to pay off your loan early, we would be glad to help. Let us know about your plans and we’ll take care of it. Learning How the Auto Title Loan Process Works

Your Loan Consultation

One of our loan reps from Colfield Financial will contact you via telephone to confirm your loan details. He or she will speak with you about potential sources of income, which could be used to qualify you for the loan. It also saves a lot of time if you have your monthly expense figures and your income handy for qualifying.

Next, you will be asked to select a loan repayment package. You should consider the length of the repayment period and the payment amount carefully. Make sure your payment fits well with your current budget, so you don’t overextend your finances.

Contracts for Title Loans Hialeah

Car title loans in Hialeah require a signature from the lender and the borrower. Colfield Financial is careful to follow Florida state regulations by including the important loan terms. Your contract will include:

  • A brief description about missing title loan payments.
  • The total cost of your loan.
  • Your interest rate and the cost of the interest.
  • Your repayment schedule.
  • Minimum loan amounts.
  • Any applicable loan fees.

You should always read through contracts carefully. Make sure the written contract agrees with the terms discussed in your loan consultation. If anything is unclear, you should take a moment to ask questions.

Closing Your Loan and Collecting Your Cash

Colfield Financial will close your loan as soon as you submit your car title. A temporary lien will be placed against your vehicle during the loan period. Upon satisfying the conditions of the loan, liens are removed and titles are returned to borrowers. Borrowers receive their loan funds at the loan closing in a title loan store.

Struggling with finances and watching the bills pile up isn’t any fun. Consider title loans Hialeah today to get your finances caught up and put things in order.

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