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At PR Title Loan, getting a title loan is incredibly easy! As long as you own your vehicle, a car title loan is the easiest and fastest way to get cash when you need it most.
A title loan (also called a title pawn in some areas) is a convenient way to get cash for anyone who owns their vehicle. It is a secured loan, based on the value of your vehicle. If you own a car, truck, or motorcycle and have no liens on the title, you can use it as collateral for a title loan. A title loan is not based on income or credit, but on how much your car or truck is worth.
A title pawn is intended as a short-term loan. It is based on the value of your vehicle, and secured with the title of your vehicle. This loan is NOT required to be repaid within 30 days, as long as the minimum monthly payment is made.
— Apply online or visit our office to apply and be approved for a loan. Please bring all necessary documents with you.
— Our staff of loan experts will preform a quick inspection of the vehicle.
— You are given cash based on the value of your vehicle. The title is required, but the keys are not – you keep the keys, you keep the vehicle.
— Once the loan is repaid in full we release the lien on the vehicle and return your title to you.
Short terms loans such as title pawns are associated with high risk for lenders, so the Annual Percentage Rate (APR) can be as high as 240%
We are fast. We are professional. We are local.
We’re fast! We pride ourselves on fast, dependable service. That means our loans are typically approved the same day.
We’re professional! Our trained staff has years of experience in the financial field, and can help you get the best loan for your vehicle. We strive to give you the best customer experience possible and are always happy to help. If you’ve got any questions, please feel free to contact us anytime.
We’re local! We are a Puerto Rican business, with a strong desire to help those in the community who need it the most. When banks won’t help you, PR Title Loan will!
For car and truck owners, there is no quicker or more reliable way to get the money you need today.
PR Title Loan is licensed in Puerto Rico as a pawn business. As such, our car title transactions are considered pawns, not loans.
PR Title Loan is proud to be reliable member of the Title Pawn industry in Puerto Rico. We are a San Juan based company with deep roots in the community. Our goal is to provide a valuable service for our clients and our community, while offering the best customer service, and follow our core beliefs of responsible and ethical lending.
— We are a legally owned and operated Title Pawn company, in full compliance with all Puerto Rican laws and regulations.
— We will provide all financial information in a clear and concise manner, making sure every client understands our service and their repayment schedule.
— We will never intentionally market to or pursue the business of clients who are not financially secure or who cannot afford our services.
— We will never encourage people to borrow more than they can realistically afford to repay.
— We will never use high pressure tactics to convince someone to use our service. We offer a valuable and competitive title pawn service; we give you the facts and figures and allow you to make the best choice for you.
A title pawn might not be right for you or your financial situation. It is important to read the terms and conditions, evaluate the repayment schedule, and decide if this title pawn is in your best interest.
— Do you understand the finance charges and interest?
— Do you realistically believe you can repay the pawn?
— Do you understand the potential risks involved with using your car title as collateral for this transaction?
We strongly recommend that you fully understand the terms and conditions before engaging in a title pawn. If these terms and conditions seems unclear to you, or you have any questions concerning them, our dedicated staff will work with you to understand.
The finance charge is 20% on the principle balance of the title pawn every 30 calendar days. In addition, there may be other associated fees charged with registering a lien on the title.
Title pawn lenders assume a tremendous amount of risk with short term loans, and commensurate with that the Annual Percentage Rate (APR) can be as high as 240%
Our Responsible Lending Pledge
PR Title Loan engages solely in legal pawn transactions, conducted in a secure manner, with all appropriate consumer protection practices in place. Our business is guided by core values including Truth in Advertising, Legal Compliance, Fair and Ethical Collections Practices, and Transparency (Full Disclosure).
Truth in Advertising
We promote the responsible use of our title pawn service. We do not engage in misleading, deceptive, or false advertising. We do not misrepresent our business, our industry, our rates, or our terms and conditions.
Transparency or Full Disclosure
PR Title Loan is in full compliance with all the disclosure requirements of Puerto Rico, as well as all federal disclosure requirements including but not limited to Federal Truth in Lending Act. Every client is issued a contract which fully outlines and explains the terms of the pawn transaction. We disclose the service fees both in dollar amounts, and as an expression of APR (annual percentage rate). We go the extra mile in terms of transparency by making all rates clearly identifiable to the customer and making sure they are understood by the client before finalizing the transaction.
We comply with all federal, state, and local laws and regulations. It is our stated policy to never charge any fees on a title pawn unless authorized by state or federal law. It is our stated policy to only charge rates approved by state or federal law.
Fair and Ethical Collections Practices
PR Title Loan provides a complete repayment schedule for the pawn transaction, and will work with you to help you meet this schedule. In the event an account is past due, our collection agents will seek to collect on these accounts in a manner that is fair, lawful, and governed by our professional ethics.
If an account defaults on the title pawn, the following may occur:
— The client will be contacted through all provided means, including phone numbers and email addresses for the account holder and the account holders references.
— Repossession of the collateral (the vehicle) used to secure the pawn transaction.
— Legal litigation to recover the principle balance in full and all associated costs and fees, including attorney fees.
PR Title Loan keeps your financial information confidential, and does not report any data to credit bureaus. A title pawn from our company does not affect your credit score in any way. Missed or late payments, past due or defaulted accounts will not affect your credit score in any way. PR Title Loan may repossess any collateral in the event of a default on the title pawn.