Credex Logo
Side Navigation Toggle
  • Español
  • Auto title loans
    • How it works
    • FAQ
    • Credex Reviews
  • Locations
    • Miami Dade
      • Hialeah
      • Homestead
      • Kendall
      • Sweetwater
    • Broward
      • Oakland Park
      • Miramar
      • Hollywood
    • West Palm
      • Lake Worth
    • Orange County
      • Colonial Drive
      • Orlando Goldenrod
      • Orlando
      • Kissimmee
      • Kissimmee 2 W
    • Hillsborough
      • Tampa 
      • Gibsonton
      • Ruskin
    • Polk County
      • Lakeland
    • Sarasota County
      • Sarasota
    • Duval
      • Jacksonville
      • Mandarin Jacksonville
    • Volusia County
      • Daytona Beach
    • Marion
      • Ocala
    • Manatee
      • Manatee
      • Bradenton
    • DeSoto
      • Arcadia
  • Payments
    • Payment Options
    • Pay Online
  • Apply Now
  • 855-5-CREDEX
Credex Logo
Side Navigation Toggle
Credex Logo
Common Misconceptions About Auto Title Loans

Common Misconceptions About Auto Title Loans

JUNE 3RD, 2020

It is normal to come across misconceptions when learning about a business. It happens in every industry! These myths and unknowns can cause confusion, especially when you are talking about loan services and other financial terms. That's why it is always important to get to the bottom of what's really going to happen when it comes to auto title loans.

Borrowers Need to Hand Over their Keys When Taking Out Auto Title Loans

Yes and no. In the past, auto equity loans were provided by pawn shops. Just like pawning a diamond ring or guitar, the borrower had to hand over their car as collateral. Today, individuals do not need to hand over both their keys and pink slip to the lender. Most lenders will settle for only the car title as they understand their clients still need to drive to work and get around. It is recommended that you stay away from high risk borrowers and only work with car title loan service providers who let you keep the keys to your car.

Your Car is Repossessed When You Default on the Loan

No. At Credex, we do not repossess our clients' vehicles right away if they default on their loans. Our services work the same way as mortgage loans. If you fail to pay on time, the mortgage company might take possession of your house. It is, however, never the first option. If a situation like this occurs, Credex's car title loan specialists will contact the client and send overdue payment reminders. If the client cannot pay, we will try to understand the financial difficulties they are currently experiencing and work out a win-win solution. After multiple failed attempts to recover the payments, our auto title loan specialists will proceed to repossess the client's vehicle.

You Do Not Qualify for an Auto Title Loan if You Have Bad Credit

No. Only traditional banks request and assess your FICO score, outstanding debts, and more. This typically happens when you try to apply for an installment loan or open a new credit card account. Poor credit history will prevent you from doing so. It is the complete opposite when it comes to getting an auto title loan.
By using your vehicle as a collateral for the loan, you are essentially telling the lender that the car will be theirs if you fail to fulfill contractual obligations. That's why you can qualify for car title loans with almost any type of bad credit. In addition, the more equity that is available in the car the higher amount of cash you can borrow.

You Will Need to Deal with High Interest Rates

It depends. This is only true if you took out a huge loan and did not pay it off early. It is important that you look at auto title loans as a short-term emergency fix and repay the loan as quickly as you can. Before you take out any loan, check with the potential lender that you will not be subject to a prepayment penalty if the auto equity loan is paid off early. This way, the creditor can get their money back and you can avoid being locked down by a high APR loan obligation.

All Auto Title Loan Companies Charge the Same Fees

Yes and no. Car title loan companies may not give you a good term or low interest rate if you do not ask. Remember that the competition in this industry is high, so it is known that auto title loan companies, including Credex, are already offering the best possible contract terms, rates, and financing amounts. It is possible to acquire more favorable financing terms through fair negotiation. Well, it never hurts to ask!

Credex Title Loan Benefits

  • No Credit Check
  • Loans From $1,000 to $10,000
  • Over 98% of the applications get Approved.
  • Low APRs ranging from 18-30%
  • Repayment Options from 6-24 Months
  • You Keep the Cash and your Car

Share This Post

Credex Loan Solutions uses “Auto Title Loans” for advertisement purposes only and provides auto equity loans. The lenders are licensed under the “Florida Consumer Finance Act” under Florida Statute 516 and as such lenders loans is exempt from any licensing requirements under the “Florida Title Loan Act” to the extent that any of lenders activities involve the making of a loan of money to a consumer secured by bailment of a certificate of title to a motor vehicle.

Credex Logo

Media Links

Quick Links

  • Blog

Terms & Conditions

  • Privacy Policy
  • Communication Consent
© 2023 Credex

Accessibility

Accessibility modes

Epilepsy Safe Mode
Dampens color and removes blinks
This mode enables people with epilepsy to use the website safely by eliminating the risk of seizures that result from flashing or blinking animations and risky color combinations.
Visually Impaired Mode
Improves website's visuals
This mode adjusts the website for the convenience of users with visual impairments such as Degrading Eyesight, Tunnel Vision, Cataract, Glaucoma, and others.
Cognitive Disability Mode
Helps to focus on specific content
This mode provides different assistive options to help users with cognitive impairments such as Dyslexia, Autism, CVA, and others, to focus on the essential elements of the website more easily.
ADHD Friendly Mode
Reduces distractions and improve focus
This mode helps users with ADHD and Neurodevelopmental disorders to read, browse, and focus on the main website elements more easily while significantly reducing distractions.
Blindness Mode
Allows using the site with your screen-reader
This mode configures the website to be compatible with screen-readers such as JAWS, NVDA, VoiceOver, and TalkBack. A screen-reader is software for blind users that is installed on a computer and smartphone, and websites must be compatible with it.

Online Dictionary

    Readable Experience

    Content Scaling
    Default
    Text Magnifier
    Readable Font
    Dyslexia Friendly
    Highlight Titles
    Highlight Links
    Font Sizing
    Default
    Line Height
    Default
    Letter Spacing
    Default
    Left Aligned
    Center Aligned
    Right Aligned

    Visually Pleasing Experience

    Dark Contrast
    Light Contrast
    Monochrome
    High Contrast
    High Saturation
    Low Saturation
    Adjust Text Colors
    Adjust Title Colors
    Adjust Background Colors

    Easy Orientation

    Mute Sounds
    Hide Images
    Virtual Keyboard
    Reading Guide
    Stop Animations
    Reading Mask
    Highlight Hover
    Highlight Focus
    Big Black Cursor
    Big White Cursor
    Text to Speech
    Navigation Keys

    Accessibility Statement

    • April 28, 2021

    Compliance status

    We firmly believe that the internet should be available and accessible to anyone, and are committed to providing a website that is accessible to the widest possible audience, regardless of circumstance and ability.

    To fulfill this, we aim to adhere as strictly as possible to the World Wide Web Consortium’s (W3C) Web Content Accessibility Guidelines 2.1 (WCAG 2.1) at the AA level. These guidelines explain how to make web content accessible to people with a wide array of disabilities. Complying with those guidelines helps us ensure that the website is accessible to all people: blind people, people with motor impairments, visual impairment, cognitive disabilities, and more.

    This website utilizes various technologies that are meant to make it as accessible as possible at all times. We utilize an accessibility interface that allows persons with specific disabilities to adjust the website’s UI (user interface) and design it to their personal needs.

    Additionally, the website utilizes an AI-based application that runs in the background and optimizes its accessibility level constantly. This application remediates the website’s HTML, adapts Its functionality and behavior for screen-readers used by the blind users, and for keyboard functions used by individuals with motor impairments.

    If you’ve found a malfunction or have ideas for improvement, we’ll be happy to hear from you. You can reach out to the website’s operators by using the following email

    Screen-reader and keyboard navigation

    Our website implements the ARIA attributes (Accessible Rich Internet Applications) technique, alongside various different behavioral changes, to ensure blind users visiting with screen-readers are able to read, comprehend, and enjoy the website’s functions. As soon as a user with a screen-reader enters your site, they immediately receive a prompt to enter the Screen-Reader Profile so they can browse and operate your site effectively. Here’s how our website covers some of the most important screen-reader requirements, alongside console screenshots of code examples:

    1. Screen-reader optimization: we run a background process that learns the website’s components from top to bottom, to ensure ongoing compliance even when updating the website. In this process, we provide screen-readers with meaningful data using the ARIA set of attributes. For example, we provide accurate form labels; descriptions for actionable icons (social media icons, search icons, cart icons, etc.); validation guidance for form inputs; element roles such as buttons, menus, modal dialogues (popups), and others. Additionally, the background process scans all of the website’s images and provides an accurate and meaningful image-object-recognition-based description as an ALT (alternate text) tag for images that are not described. It will also extract texts that are embedded within the image, using an OCR (optical character recognition) technology. To turn on screen-reader adjustments at any time, users need only to press the Alt+1 keyboard combination. Screen-reader users also get automatic announcements to turn the Screen-reader mode on as soon as they enter the website.

      These adjustments are compatible with all popular screen readers, including JAWS and NVDA.

    2. Keyboard navigation optimization: The background process also adjusts the website’s HTML, and adds various behaviors using JavaScript code to make the website operable by the keyboard. This includes the ability to navigate the website using the Tab and Shift+Tab keys, operate dropdowns with the arrow keys, close them with Esc, trigger buttons and links using the Enter key, navigate between radio and checkbox elements using the arrow keys, and fill them in with the Spacebar or Enter key.Additionally, keyboard users will find quick-navigation and content-skip menus, available at any time by clicking Alt+1, or as the first elements of the site while navigating with the keyboard. The background process also handles triggered popups by moving the keyboard focus towards them as soon as they appear, and not allow the focus drift outside of it.

      Users can also use shortcuts such as “M” (menus), “H” (headings), “F” (forms), “B” (buttons), and “G” (graphics) to jump to specific elements.

    Disability profiles supported in our website

    • Epilepsy Safe Mode: this profile enables people with epilepsy to use the website safely by eliminating the risk of seizures that result from flashing or blinking animations and risky color combinations.
    • Visually Impaired Mode: this mode adjusts the website for the convenience of users with visual impairments such as Degrading Eyesight, Tunnel Vision, Cataract, Glaucoma, and others.
    • Cognitive Disability Mode: this mode provides different assistive options to help users with cognitive impairments such as Dyslexia, Autism, CVA, and others, to focus on the essential elements of the website more easily.
    • ADHD Friendly Mode: this mode helps users with ADHD and Neurodevelopmental disorders to read, browse, and focus on the main website elements more easily while significantly reducing distractions.
    • Blindness Mode: this mode configures the website to be compatible with screen-readers such as JAWS, NVDA, VoiceOver, and TalkBack. A screen-reader is software for blind users that is installed on a computer and smartphone, and websites must be compatible with it.
    • Keyboard Navigation Profile (Motor-Impaired): this profile enables motor-impaired persons to operate the website using the keyboard Tab, Shift+Tab, and the Enter keys. Users can also use shortcuts such as “M” (menus), “H” (headings), “F” (forms), “B” (buttons), and “G” (graphics) to jump to specific elements.

    Additional UI, design, and readability adjustments

    1. Font adjustments – users, can increase and decrease its size, change its family (type), adjust the spacing, alignment, line height, and more.
    2. Color adjustments – users can select various color contrast profiles such as light, dark, inverted, and monochrome. Additionally, users can swap color schemes of titles, texts, and backgrounds, with over 7 different coloring options.
    3. Animations – epileptic users can stop all running animations with the click of a button. Animations controlled by the interface include videos, GIFs, and CSS flashing transitions.
    4. Content highlighting – users can choose to emphasize important elements such as links and titles. They can also choose to highlight focused or hovered elements only.
    5. Audio muting – users with hearing devices may experience headaches or other issues due to automatic audio playing. This option lets users mute the entire website instantly.
    6. Cognitive disorders – we utilize a search engine that is linked to Wikipedia and Wiktionary, allowing people with cognitive disorders to decipher meanings of phrases, initials, slang, and others.
    7. Additional functions – we provide users the option to change cursor color and size, use a printing mode, enable a virtual keyboard, and many other functions.

    Browser and assistive technology compatibility

    We aim to support the widest array of browsers and assistive technologies as possible, so our users can choose the best fitting tools for them, with as few limitations as possible. Therefore, we have worked very hard to be able to support all major systems that comprise over 95% of the user market share including Google Chrome, Mozilla Firefox, Apple Safari, Opera and Microsoft Edge, JAWS and NVDA (screen readers), both for Windows and for MAC users.

    Notes, comments, and feedback

    Despite our very best efforts to allow anybody to adjust the website to their needs, there may still be pages or sections that are not fully accessible, are in the process of becoming accessible, or are lacking an adequate technological solution to make them accessible. Still, we are continually improving our accessibility, adding, updating and improving its options and features, and developing and adopting new technologies. All this is meant to reach the optimal level of accessibility, following technological advancements. For any assistance, please reach out to