How a title loan works

how a title loan works

HOW A TITLE LOAN WORKS

A title loan is meant to be a short-term loan however, you can keep the account as long as you need to if you make the minimum monthly payment on or before your due date.

Step 1: Apply online or come by our office to get approved for a loan. In order to be approved, please bring all required documents with you.

Step 2: Our title loan staff will complete a quick 5-minute inspection of your vehicle.

Step 3: You are given cash for the value of your vehicle. No keys are required; you get to keep your vehicle.

Step 4: Once you have paid back your title loan in full we will release the lien on your vehicle and will return the title to you.

**Because of the high risk associated with short-term loans, the Annual Percentage Rate (APR) can be as much as 300%.

PRIVACY POLICY

This privacy notice discloses the privacy practices relating to this website for Jacksonville Title Loan (referred to herein as “Jacksonville Title Loan”). This privacy notice applies to information collected by phone, email, and/or this web site. The purpose of this privacy notice is to address the following: 1) What personally identifiable information is collected from you through the web site, how it is used and with whom it may be shared; 2) What choices are available to you regarding the use of your data; 3) The security procedures in place to protect the misuse of your information; and 4) How you can correct any inaccuracies in the information.

Collection, Use, and Sharing of Information

Jacksonville Title Loan is the sole owner of the information collected on this site. Jacksonville Title Loan only has access to/collect information that you voluntarily give Jacksonville Title Loan via email, phone, or by completing the Funding Estimate form which may appear throughout the web site. Jacksonville Title Loan will not sell or rent this information to anyone. Jacksonville Title Loan will use your information to respond to you, regarding the reason you contacted Jacksonville Title Loan. Jacksonville Title Loan will not share your information with any third party outside of our organization, other than necessary to fulfill your request, e.g. to determine if you are eligible for funding. Unless you request Jacksonville Title Loan not to, Jacksonville Title Loan may contact you via email or phone to notify you about specials, promotions, new products or services, or changes to this privacy policy.

Your Access To and Control Over Information

You may opt out of any future contacts from Jacksonville Title Loan at any time. To do any of the following, you should contact Jacksonville Title Loan via email at support@jacksonvilletitleloan.com or by calling (904) 880-2274: 1) See what data Jacksonville Title Loan has about you, if any; 2) Change/correct any data Jacksonville Title Loan has about you; 3) Have Jacksonville Title Loan delete any data it may have about you; and/or 4) Opt out of receiving phone calls relating to, or emails containing, offers or updates regarding your account.

Data Security, Storage, and Employee Limitations

Jacksonville Title Loan takes several precautions to protect your information. When you submit sensitive information via this Jacksonville Title Loan web site, your information is protected both online and offline. Whenever Jacksonville Title Loan collects sensitive information (such as personal data), that information is encrypted and transmitted directly to Jacksonville Title Loan's database in a secure way. While Jacksonville Title Loan uses encryption to protect sensitive information transmitted online, Jacksonville Title Loan also protects your information offline. Only employees who need the information to perform a specific job (for example, customer service) are granted access to personally identifiable information. The computers/servers in which Jacksonville Title Loan stores personally identifiable information are kept in a secure environment.

Links To Other Web Sites and Services

Jacksonville Title Loan may have links to outside affiliates and/or third-party websites and is not responsible for the content or policies on those sites. Jacksonville Title Loan is not responsible for examining or evaluating businesses or individuals or the content of their websites.

We Carefully Limit And Control The Sharing Of Customer Information

We disclose "nonpublic personal information" as permitted or required by a variety of federal or state laws, such as response to a subpoena. We only collect information needed to serve you and conduct our business. This information my come from public records including but not limited to Department of Motor Vehicles, any state agency related to the motor vehicle, its title, or registration status.

Inquiries

All questions or comments regarding the aforementioned policies should be directed to Jacksonville Title Loan using the address listed below. All inquiries will be addressed and responded to

within a reasonable time period.

Jacksonville Title Loan

Attn: Brooke Brandon

1204 Hospitality Ave, Suite C

Kingsland, Georgia 31548

Acceptance

By providing your email address or other personal information to Jacksonville Title Loan, or by completing an application with Jacksonville Title Loan, you understand and do not dispute the terms outlined in this privacy notice.

GENERAL CODE OF PRACTICE/

POLICY ON RESPONSIBLE LENDING

Jacksonville Title Loan we are proud to be a responsible participant in the Title Pawn industry. We strive to provide excellent service to our customers, and therefore adopt the following as representative of our core values:

· We will not encourage customers to engage in a pawn transaction if we do not believe that our service is appropriate for them.

· We will not intentionally market to people who are financially insecure.

· We will not encourage people to borrow more than we believe they can afford to repay.

· We will do our best to provide information so our customers have a clear and understanding of the services we provide.

· We will comply with appropriate state and local regulations related to short-term loans.

Borrowing Responsibly

First, determine whether a pawn transaction is in your best interest. If you do not feel that you will realistically be able to pay it back in a timely manner, understand that you may run the risk of incurring extra charges by allowing the contract to rollover.

We recommend that you not engage in a pawn transaction unless you fully understand, and are comfortable with, the terms and conditions. The finance charge is 25% every 30-calendar days on the principle balance of the pawn transaction. In addition, fee(s) may be charged to register a lien on the title and are only charged in the event that the lien is secured and due at the time that the account is paid in full. Because of the high risk associated with short-term loans, the Annual Percentage Rate (APR) can be as much as 300%.

Responsible Lending

Jacksonville Title Loan facilitates pawn transactions that are conducted in a secure and responsible manner, with appropriate consumer protections. Our principles and core values include, but are not limited to, full disclosure, truthful advertising, and fair collections practices.

Full Disclosure

We comply with the disclosure requirements of the state in which the title pawn office is located and with federal disclosure requirements including the Federal Truth in Lending Act. Our title pawn contracts with customers fully outline the terms of the transaction. We disclose the cost of the service fee both as a dollar amount and as an annual percentage rate ("APR"). We further ensure full disclosure by making rates clearly identifiable to customers before they enter into the transaction process, unless not permitted by federal, state, or local law.

Compliance

We comply with all applicable laws. As such, it is our policy to not charge any fees or rates for a pawn transaction that are deemed unauthorized by state or federal law.

Truth In Advertising

We do not advertise the title pawn service in any false, misleading, or deceptive manner, and promote only the responsible use of our title pawn service.

Encouraging Consumer Responsibility

Through this policy on responsible lending, we educate our customers that these loans are meant to provide you with short-term financing to solve immediate cash needs and should not be considered a long–term solution.

Collection Policies and Practices

Our collection agents will collect past due accounts in a professional, fair and lawful manner. Upon Default, the following are examples of things that may occur:

1. Contact with you may be attempted through all provided means including active phone numbers for all account holders, references, letters and emails.

2. Repossession of the collateral at issue in the transaction.

3. Litigation to recover balance in full in which debtor will be responsible for all associated costs and fees including attorneys' fees.

The term of the pawn transaction is for 30 days. In the event that the redemption premium is not received on the 30th day, the account will automatically renew into another 30-day term acquiring additional fees to automatically accrue on the account until the balance is paid in full. If you are unable to pay the account in full, the minimum payment of the interest accrued can be paid to renew the term and avoid further collection.

Jacksonville Title Loan does not report any information about your account to credit bureaus. Late payments, missed payments or default on your account will not be reflected on your credit score. Jacksonville Title Loan will repossess any collateral in the event of a default.

Source: www.jacksonvilletitleloan.com

Category: Credit

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