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Can You Get a Title Loan With an Electronic Title in Florida?

May 22, 2024

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A Woman Reading a Document
Car title loans are known from removing many of the delays that plague traditional loan services. You don't need to meet an endless list of requirements to be eligible and the paperwork can be sorted through in a single appointment. With these odds, it's natural to wonder about electronic titles and how they fit into the process.

What Is a Car Title and Why Is It Important?

Your car title is the most important proof to verify the ownership of a vehicle and it's granted at the end of a purchase via a title transfer. Because of this, it goes without saying that you can't sell a vehicle of any kind without a clear title. There are usually many ways to complete the application to get a car title, so people may go through the process via mail, online, or in person.

From the name alone, you can probably guess just how important this document is when it comes to car title loans. While the amount of money you get is based solely on the equity in the vehicle, the car title serves as collateral for the loan.

Is an Electronic Title Any Different from a Traditional Title?

Just like a physical title, an electronic title serves to confirm a person's ownership over a vehicle, and it can be used during bureaucratic procedures without losing its legitimacy. This electronic title format is applicable for different vehicles like cars, motorcycles, boats, and trucks.

The Florida Department of Highway Safety and Motor Vehicles is in charge of keeping record of all vehicle titles, in both physical and electronic. Getting an e-title isn't that different from getting a physical copy. You'll be asked for the same documents and go through a similar evaluation process to confirm that there are no liens on the title.

With time, it's become a norm to get an electronic counterpart for important legal documents. Technology has permeated many parts of modern life, so this is expected given the practical benefits of digital media. The most obvious advantage is that it's easier to safeguard your title so it doesn't get lost or stolen. Getting a duplicate title after losing the original may cost you around $75, on top of a series of steps you need to complete beforehand.

An e-title will also save you the hassle of setting a storage space and a filing system, since all records can be accessed from a title management software.

It helps knowing that you can contact the local DMV (Department of Motor Vehicles) office to get a new title when the original has been misplaced. Just keep in mind, that your duplicate title will be the main document attached to your vehicle going forward, even if you find your original title later on. For more information about what to do after losing a title, check out our blog Can I Get a Title Loan If I Lost My Title?

A Woman's Hand Holding a Document
Physical titles are still important since they may be mandatory to complete specific transactions in some counties. For instances, chances are that you need a paper copy of the title when selling a vehicle without the involvement of a licensed car dealer.

Getting a Car Title Loan with an Electronic Title in Florida

The state of Florida offers the option of getting an e-title, so you can expect a favorable response from a local title loan company. At Quick Cash Auto Loans, you will get approved for a car title loan with an e-title if that's what you have. As long as the title is clear (indicating that you've fully paid for the vehicle you're using for the loan), there's no need to worry about facing any pushback during the evaluation stage.

Car title loans are designed to simplify the process but, just like any other licensed loan service, title loan companies need to protect their investment. For this reason, there are additional requirements besides issuing your title. That's why the vehicle should have a valid registration to be approved.

These are the other documents you need to get a loan with Quick Cash Auto Loans:
  • Driver's license

  • Social security card

  • Vehicle registration

  • At least, two utility bills
As you can see, these are all basic documents that most adults have on hand, and they're needed to confirm the identity of the person asking for the loan. The utility bills serve to prove that there's a regular source of income, so the person won't have trouble keeping up with the payment schedule.

Following that, however, you can go about your routine as normal. You car won't be kept in the office after the inspection, and you won't have to deal with any more paperwork once the loan agreement is signed during your first visit.

Since you can apply for a car title loan online, the loan specialists will clear out your doubts before the in-person appointment at the office. This means that most clients arleady know what to expect by the time they attend the car inspection. Any legal adult with a running vehicle is eligible for a car title loan, so there's really nothing to worry about if all your documentation is in order. This obviously extends to your e-title.

It's hard not to spend our time stressing over money troubles, but we're here to ease some of that burden. Quick Cash Auto Loans will provide the best customer service to ensure a comfortable experience. More importantly, our title loan services are tailored to save you time and help you get closer to financial stability. If you're not familiar with the process, we invite you to get in touch with our staff. You can call (786) 600-3411 or fill out the application form, and we'll help you at every step of the way.

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