These loans are based on the value of your vehicle. The Loan works by the lender holding on to the car title in exchange to giving the borrower cash. You can keep driving your car, and will receive the title back when you complete the payment of the Loan.
FAQ
Frequently Asked Questions
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01. How do title loans work?
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02. What do I need to get a title loan?
- The title or registration of the car, which has to be in your name and registered in the State of Florida.
- The car, for a mechanical inspection but then you keep driving it.
- A current ID such as a Driver’s License from the State or passport.
- A proof of income, like a current pay stub or a copy from your bank statement with periodic deposits that will show that you are going to be able to pay the Loan back.
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03. How much money can I possibly get with a title loan?The amount of money we can borrow is based on the value of your car, you can get a loan from $750 to $5,000.
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04. Will I be able to keep driving my car?Yes, you will keep the car the entire time. When you finish making your payments, you will receive your title back.
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05. How important is my credit in qualifying for a title loan?At CREDEX we do not run a credit check for you to qualify for a title loan, rather the loan is based on the value of your car. But we do report to the credit bureaus, and this will highly improve your credit.
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06. Do you charge anything to see if I qualify for the loan?No, we will not charge any fees to see if you qualify for a title loan.
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07. How long does the process take? How quickly can you give me the cash?The process takes 20 minutes. Depending on the amount of people waiting at the office; but as soon as you start the process, you will have access to your money in 20 minutes.
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08. When is my first payment due?Your first payment will be due 30 days after you get your loan.
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09. How long is the loan for?We provide our customers to choose from various repayment Monthly options. The average term of our loans is 12 months.
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10. What forms of payments does Credex accept?You can choose to pay at any of our different locations in South Florida, there you can pay with Cash, Money Orders, Personal Checks, Credit and Debit cards. You can also pay on the phone with a Debit or Credit card, or you can send your payments in the mail.
For more details about our payment options, visit Payment Options page. -
11. Will bankruptcy or bad personal credit prevent me from getting a title loan?Our loans are asset backed loans, based on the value of your vehicle. We do not check your credit and if you have filed for bankruptcy before we need your bankruptcy discharge forms.
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12. Does my vehicle need a florida certificate title?Yes the vehicle needs to have a Florida title. Converting an out of State title to Florida Title is an easy process.
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13. If I want to pay off the loan early, are there any payment charges?No, there are no pre-payment penalties. At any time you can pay your loan off, we will release your title back to you, and you will save the interest for the months you don’t use the loan.
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14. How are the funds given to me?We give you a check from a local bank. You will be able to cash your check right away and have access to your money.
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15. What are your business hours at Credex?We have multiple locations throughout Florida. We are open Mon-Fri 9:00am-6:00pm and Saturday 9:00am-2:00pm.
For more details about our office hours visit Locations page.
For applying online, visit our Apply Now page at any time.
For customer support, visit Payment Options page.
Fair & Responsible Lending
We are committed to provide our customers with a positive experience using the highest level of transparency and fairness
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. Approval is primarily based on the customer ability to repay the loan and the vehicle condition.
Fees: $25.00 Application Fee.
APR: Our annual percentage rate ranges from 18.95% to 34.59%.
Repayment: We offer easy payment options to suit your ability to repay the loan, currently ranging from 6 Months to 24 Months.
Loan Amount: $93.25 Lien Holder and Document Stamp Tax are included in your loan amount.
The table below represents illustrative examples of the cost of a loan. If you have any questions, or would like more information, please feel free to ask. Make sure you understand the terms and costs of your loan.
| Loan Amount | APR | Application – One time fee | Term | Monthly Payment | Total of Payments |
| $1,097.18 | 34.59% | $25 | 12 Months | $106.96 | $1,283.53 |
| $5,111.23 | 18.95% | $25 | 24 Months | $255.17 | $6,124.17 |
* Other insurance coverages may be required to be approved. Please call us for further details.
Sample 1
Loan Amount
$1,097.18
APR
34.59%
Application – One time fee
$25
Term
12 Months
Monthly Payment
$106.96
Total of Payments
$1,283.53
Sample 2
Check Amount
$5,111.23
APR
18.95%
Application – One time fee
$25
Term
24 Months
Monthly Payment
$255.17
Total of Payments
$6,124.17
* Other insurance coverages may be required to be approved. Please call us for further details.