What Do I Need?
The first thing the borrower needs is a clear title to the vehicle the borrowers plans to use as collateral. The name of the borrower must be on the title, and all titleholders must be on the loan.
What Information Do I Need To Give?
Name, address, and telephone number. We also require a source and amount of income (to show you have the ability to repay the loan.
Do You Check My Credit?
While no credit report is required, the borrower will need to provide proof of his residence and income. Your credit score will not affect if your loan request is accepted or not.
Where Are You Located?
Blue Sun Lending is conveniently located in Sarasota, Florida. This allows them to easily work with consumers who are in need of title loans Sarasota and have the documents necessary for approval.
Regular Loans vs. Car Title Loans
Because the loan is fully secured, the funds are available much quicker than a typical bank loan--quite often within 24 hours.
How Much Can I Borrow?
The amount an individual can borrow varies from one lender to another, but it is usually up to a maximum of 50 percent of the Kelly Blue Book or NADA value of the car.
RePayment and Extensions
If the consumer is unable to pay the loan in full when it is due, sometimes it is possible to obtain an extension from the lender. This can be useful but it is important to try to pay off the full balance. If not, it can raise interest or the car can be reposessed.
How Much Interest Is Charged?
In Florida there are restrictions on the amount of interest and fees a lender can charge on title loans. Not all states have such caps or restrictions, and even though the rates are still higher than typical bank loans, they are beneficial for many borrowers in a variety of ways
Is Blue Sun Right For Me?
Blue Sun Lending specializes in title loans and understands consumers who seek these types of loans have very good reasons for not seeking a standard bank loan. Its our job and our goal to make sure that no matter what situation you end up in, you have a viable way to get out.
Finalizing Your Loan
Research is the most important step a borrower can perform when searching for a competitive title loan. Searching online is an important part of the process.
Compare the rates, fees, and terms with other title loan companies before making a final decision. This will ensure the borrower makes the right decision based on his individual needs.
Our Customers Are Number One
From beginning to end, we want to make getting a title loan with Blue Sun Lending a good experience. Our customer representatives are trained on making sure your day doesn't stay blue