As a title loan applicant in Arizona, your car or any type of vehicle is used as equity for the funding amount. When you’re ready to apply, just use our online application form on this page and know what you need before sending in your vehicle info. We talk to borrowers all the time who live in Phoenix and they always have questions about what it takes to get approved and how to know if their car is going to qualify. Arizonians can apply for title loans online or with lenders nearby in any major city.
Phoenix Title Loans – What’s Required
To get a car title loan in Phoenix, you must meet a few basic qualifications. First of all, you must be at least 18 years old. In addition to that, you must own a vehicle that’s in your name, and it can’t have any liens or 3rd party cosigners.
Your car’s equity secures title loans, and the lender keeps your pink slip as collateral. Make the required monthly payments and you won’t run into any issues where the car is repossessed because of default.
These loans are great for customers with poor credit, and you can often borrow $1,000 or more on a title loan without a credit check. If you don’t have the car’s title, there isn’t much that the lender can do for you, as they need some proof that you own the vehicle. You’ll be able to keep driving the car as long as your lender is comfortable holding the car’s pink slip as collateral. Car Title Loans Today requires a visual inspection of your vehicle and this can be done anywhere in Maricopa County.
Should I apply with a lender online or with a local company in Phoenix AZ?
Title loan lenders are always available for customers to hand in their documents. As long as you have the title, it doesn’t really matter whether you apply online or through a local company. You will still need to prepare the same proof of income and proof of Phoenix, AZ residency before being approved with Car Title Loans Today.
The choice is entirely up to you on whether to apply online or with a lender that has an office in Phoenix. Most borrowers choose to apply with online services as they typically have better rates and terms, whereas some borrowers prefer applying online to get the title loan approved on the same day.
How long does it to get my cash In Phoenix and how long does the loan term last?
The repayment term for a title is based on the amount borrowed and how quickly you want to repay the balance. Most secured loans last one to two years and some lenders will allow early payoffs or extra monthly payments. It may be a wise idea to pay off the loan early to avoid any extra interest payments or late fees if you miss any monthly payments.
What are the interest rates to expect from a Phoenix title loan?
Interest rates on title loans in Phoenix are much higher than other types of unsecured personal loans, but this is because underwriters don’t run credit checks to determine if you are eligible for a vehicle equity loan. The interest rates in Phoenix can vary greatly depending on several factors that include the lender’s requirements, city regulations, and your credit score or payment history. Even though most companies in Arizona aren’t going to check your credit, they will still want to know the relevant payment history.
How much money should I borrow from a lender in PHX?
To know how much cash you will get from a local lender, you’ll first need to determine how much money you need and how fast you want to get the loan proceeds in your hand. Once you have those two numbers, we recommend going with the amount that’s absolutely what you need. There’s no sense in borrowing more than necessary as the interest rates will be excessive. This isn’t because title lenders are evil or deceptive. Instead, you want to limit the money borrowed, saving more in the long run. Apply with Car Title Loans today online or call us at 714-484-9844 to find out how much your vehicle is worth!
