Those who are in need of cash in a hurry but don't qualify for traditional bank loans are perfect candidates for title loans Bradenton. On the Double Finance Group offers title loans that are designed specifically for those with less than stellar credit or those who do not have the time to wait for the processing of traditional bank loans. The process is quick and easy and allows the borrower to walk away with cash in hand.

Apply with On The Double Finance

Obtaining a title loan through On the Double Finance Group is a quick and easy process. Like other title lenders in Bradenton (and Florida in general) there is minimal information necessary for approval. It is this minimal information that appeals to many consumers who are seeking title loans Bradenton. The information that is typically required is:

  • Make, model and mileage of collateral vehicle
  • Clear title to the collateral vehicle
  • Name, phone number and zip code of borrower
  • Amount and source of income (doesn't need to be from a job but must be regular and meet minimum income requirements)

After the consumer/potential borrower fills out the application he will receive a title loan quote and then arrange to speak with a loan representative. The entire process usually takes fewer than twenty-four hours to complete and can be handled online for the most part. While some lenders do require an in-person meeting, On the Double Finance Group is not one of those.

  • About On The Double Finance

    On the Double Finance Group provides title loans Bradenton to those who are interested in cashing in on the equity in their vehicles.The company is conveniently located in Bradenton for those who either do not have access to a computer or prefer to conduct their business in person. With so many title companies from which to choose in the Bradenton area, it is important for each individual company to exceed the expectations of the competition. This means being in touch with the needs of the community and being conveniently located.

    On the Double Finance Group offers competitive terms and rates that meet the needs of consumers in Bradenton. These are only a couple of the ways in which the company seeks to provide more to potential borrowers than other lenders in the area albeit very important ones. The more a company is able to offer in such a competitive market the better the chances are the company will maintain and retain success in the community.

How It Works in Bradenton, FL

A title loan is a special loan that allows the owner to borrow money against a vehicle's clear title. The amount a person is able to borrow depends on the value of the vehicle as determined by Kelly Blue Book or NADA and will vary depending on individual lenders of title loans Bradenton. The loan can vary from very small amounts to larger amounts, and while they are usually short term loans of 30 days, they can sometimes be extended for longer periods of time.

Title loan transactions allow the borrower to retain possession of the motor vehicle although the lender retains possession of the title as security until the loan is paid in full. In the event the borrower is unable to repay the loan Florida law allows lenders of title loans Bradenton to repossess the vehicle and sell it to recover its investment. Florida law also requires lenders of title loans Bradenton to return to the borrower any portion of the money it receives from the sale of the vehicle that exceeds the loan balance; this must be done within 30 days. Because of the risk of repossession it is essential for a borrower to make sure he makes the payments on time (this is not limited to title loans Bradentown but also applies to banks as well).

Florida law also allows a title loan lender to charge interest on the loan in the following amounts:

  • 30 percent annually for the first $2,000
  • 24 percent for amounts from $2,000-$3,000
  • 18 percent for amounts above $3,000

There are also two regulations that title loan lenders must follow:

  • Chapter 537 (the Florida Title Loan Act) requires lenders of title loans to be licensed by the State Office of Financial Regulations. It also requires borrower and lender to sign a written agreement that includes the principal amount of the loan, interest and total amount of the loan. The loan agreement also must notify the borrower of the repercussions of not repaying the loan (repossession of the vehicle). The lender must also notify the debtor of its intention to repossess the vehicle and provide the chance for him to hand it over. The borrower has until the time the car is sold to reclaim the vehicle by paying back the loan and reasonable expenses. You must be notified ten days prior to the date and time of the sale in addition to the total amount of the loan.

  • Chapter 516 doesn't provide as much protection as protection as Chapter 537. The lender must provide a written statement of the details of the loan, but the regulations on the procedures of repossession, sale and charges are not nearly as specific as they are in Chapter 537.

Title loans are beneficial for those who do not qualify for traditional bank loans for several reasons:

  • No employment necessary though proof of regular income is usually required
  • Minimal personal information required

There are laws to protect borrowers, and as long as a consumer conducts research on individual title loan lenders, there is no reason he should have to worry about making a mistake. The key is the performance of due diligence, and there are enough lenders of title loans Bradenton for consumers to make an informed decision. In the end this may mean choosing On the Double Finance Group.

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(941) 208-6360