Best Title Loan Companies in Orlando
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Florida is one of the best states in the country to get title loans. This is true especially if you’re in Orlando, where title loans can serve as a great way to get instant cash.
There are many reasons to consider a title loan. While the cost of living in Orlando is about 0.7% less expensive than the national average, certain bills can still pile up over time. For example, you might find yourself unable to cover an upcoming rent payment or sudden car repair bill.
When this happens, you could reach out to any of these top online title loan companies. If you’re looking for companies specifically in Orlando, read on for our top 8 local title loan recommendations.
Top 8 Title Loan Companies in Orlando
Regardless of whether you prefer getting a title loan online or in person, you can’t go wrong with any of these top 8 companies.
Max Cash Title Loans
Max Cash is a free platform that helps connect people with lenders. When you sign up, Max Cash will ask you for some basic information to get a sense of what you’re looking for in a title loan. They then use this information to match you with one or more of their partner lenders.
Max Cash is the perfect place to begin your title loan search. Here are some of their biggest advantages:
Perhaps best of all, Max Cash is entirely free to use. Be sure to take advantage of their excellent customer service, especially if you need advice on whether or not a loan contract makes sense for you.
For more information, check out our Ultimate Max Cash Title Loans Review.
LoanMart is another great option for Orlando residents to consider. Unlike Max Cash, which is a title loan platform, LoanMart is a direct loan provider. This means that you will be submitting an application directly to LoanMart, and they will be responsible for funding your loan.
LoanMart is our top choice for direct online title loan lenders. Here’s what we like most:
It’s easy to get started with LoanMart: their application shouldn’t take you longer than 5 minutes to complete. After you hit submit, a loan specialist will reach out to you with next steps.
Loan Center is a top national title loan provider. With Loan Center, any type of vehicle can be used as collateral for a title loan. As long as you have a car, motorcycle, or RV, you could qualify for a quick title loan of up to $50,000.
Loan Center aims to make lending money as easy as possible through their online application process. Orlando residents can apply for a new title loan or a title loan refinance today and not have to worry about credit inquiries.
Instaloan has over 25 locations all over Florida. Their Orlando location at 5540 W Colonial Drive has especially high ratings: a 4.9 out of 5 among 1,030 reviews on Google.
Instaloan requires that you have a clear copy of your vehicle title, proof of residency, proof of income, and proof of car insurance to complete their application process. Once you have all that, you can get your money in as little as 30 minutes. They also offer multiple different repayment options.
Loans of Florida
Loans of Florida is one of the most popular local title loan companies in the greater Orlando area. They are very highly rated as well, with a perfect 5 out of 5 rating on Google among 94 reviews.
You can get an instant quote through their website. Then, provided you complete the process at one of their stores and you have all the necessary paperwork, you could walk out with your cash today in as little as 30 minutes.
Since 2005, Embassy Loans has offered great rates on title loans to Orlando residents. They offer clients the option of completing the process entirely online or in person.
If you do the process in person, you’ll have to bring your car to one of their inspection stations. If you prefer to do the process online, you must take 15 pictures of your car and upload them to Embassy Loans for a virtual inspection.
Rapid Title Loans
Rapid Title Loans has served millions of borrowers in Florida to date. They pride themselves on offering a hassle-free application process and very reasonable repayment plans for their title loans.
Rapid Title Loans actively monitors new clients that submit an application between 9 to 5 on Mondays through Fridays. However, even if you’re applying outside of those hours, they have a hotline that you can call to speak with a representative.
TFC Title Loans
TFC Title Loans has been in the title loan industry since 1994. They are headquartered in California, but Orlando residents have the option to apply for a loan online.
Like many others on this list, TFC Title Loans has a quick application process. However, note that you do need to provide two contact references. You can often get your money in as little as one business day after completing the process.
Does Florida Allow Title Loans?
Yes, Florida does allow title loans. If you live outside of Orlando but still in Florida, we have a list of the best title loan companies in Florida here.
Title loans in Florida must follow all laws and regulations as described by the Florida’s Office of Financial Regulation (FLOFR). One of the most important things to note is that there is a cap on the maximum interest rate title loan lenders are allowed to charge. Specifically, those rates are as follows:
- 30% maximum APR on the first $2,000.
- 24% maximum APR on the amount between $2,000 and $3,000.
- 18% maximum APR on any amount above $3,000.
Compared to many other states, Florida’s title loan rates are much lower. This makes it especially attractive to get a title loan here. Needless to say, avoid any lender that charges above these rates!
What Do You Need For a Title Loan in Orlando?
When applying for a title loan in Orlando, companies will usually ask for the following documents:
- Government-issued ID
- Clear car title
- Proof of income (recent paystub)
- Proof of residency (recent utility bill)
- Proof of insurance
Note that in most cases, you’ll have to own your car outright in order to get a title loan. If you’re still making payments on your vehicle, some companies may still consider your application if you have enough equity.
Do Title Loan Companies in Orlando Run Your Credit?
No, title loan companies in Orlando do not run your credit. Similar to payday loans, title loans are a special type of loan where your past credit history is ignored.
Though this makes title loans a great option for those with bad credit, you shouldn’t neglect your credit score for too long. We highly recommend looking into credit repair or tradelines if you’re constantly experiencing issues related to credit. You can learn more in our Ultimate Review Guide for Credit Saint.
Also, even though Orlando title loan companies don’t check your credit, they may report your loan repayments to the credit bureaus. This is great news, since you can use your title loan repayment to build up positive credit history, increasing your credit score. This also means you should definitely prioritize paying it off, since not doing so could result in more negative history.
How To Get a Title Loan
In Orlando, the process of getting a title loan is pretty similar across most companies. There are usually five distinct steps:
- Prepare your documents. Make sure you have all the documents we mentioned earlier in this article before you get started.
- Fill out an application, in person or online. Most companies prefer that you start the process online, where the application process won’t take you longer than 5 to 10 minutes. However, you could also do this at a physical branch.
- Receive and review your loan terms. More often than not, your application should be accepted. The company may perform an inspection of your car, and then offer you a loan contract for you to review.
- Accept or decline the offer. After you’ve carefully reviewed the contract, you can accept the offer if you’re sure you can repay the loan on time and in full.
- Get your funds. In less than one business day, you should receive your funds.
Is Getting a Title Loan Worth It?
Yes, getting a title loan is definitely worth it in Orlando, as long as you’re using it for a legitimate reason. Title loans are not meant to be used for discretionary expenses, such as a vacation or a gift.
Also, we must again point out that you must be 100% sure you can repay your title loan before taking one out. Not doing so can lead to serious consequences, such as repossession and severe marks on your credit report. As long as you can repay the loan, a title loan is definitely a great way to cover an important expense.
Conclusion and Next Steps
This article was dedicated to the best local title loan companies in the city of Orlando. If you need cash fast, any of these companies are great places to apply for a title loan.
As a next step, we recommend going to Max Cash and signing up for their platform. That way, Max Cash can instantly get to work matching you with multiple potential lenders, and you don’t even need to spend a penny to get started.
If you need cash fast, get in touch with
When doing research, Credit Help Info relies on credible and authoritative sites. These research sources are provided so that you can see exactly where we get our information.
About the Author
Chris Morgan is a credit expert and founder of Credit Help Info. He has been featured in Addition Financial, GOBankingRates, MSN Money, Yahoo Finance, and many other publications. He has read hundreds of books and resources on finance and the credit industry. Because he did this, you don’t have to. As a school teacher for over 20 years, Chris enjoys taking complicated material and breaking it down into manageable information that’s easy to understand.