Qualified borrowers can now cash out equity from their vehicle with a same day title loan in Arizona. Apply with Car Title Loans 123 to see how much money you can get and there are very few credit requirements when you apply online. Borrow $2,000 or more, and most lien free vehicles can qualify!
You need a paid off car title and proof that it’s in your name with no other cosigners. Also, you have to possess the car title physically. You’ll keep driving the vehicle for the entire lending term, but the lender will need the pink slip signed over to them.
You will need to show proof of income, which can be employment records or bank statements showing your money coming in each month. Expect to show proof of valid vehicle registration and documentation of full vehicle insurance coverage. You sometimes need a vehicle with less than 150,000 miles to qualify.
Loan amounts with an online title loan will range between $300 and $30,000. This is a more extensive range than expected in most states because there are multiple ways to get cash using your vehicle as collateral.
Another way to get cash in Arizona is with a car registration loan. Unlike a car title loan, you use the vehicle’s registration information as collateral. These loans are popular in Arizona, and many borrowers turn to them when they need less money than what they’d get from a title lender or if they don’t have documentation that shows they have the car title. All you need is the car registration to get money for your vehicle.
One thing to remember is that title loans are not as stringent regarding credit requirements for personal loans or mortgages. You don’t need a decent credit score; most lenders won’t even run a standard credit check.
There are hundreds of lenders offering bad credit title loans in Arizona. Many are in Phoenix, but direct lenders are still in rural areas like Flagstaff and Prescott. They will likely run a soft credit check to confirm your identity and personal information, but again, the most critical requirement is the equity in your car. Other than that, issues like your credit and payment details will be secondary.
Consider many companies that offer bad credit title loans online and look for firms that provide vehicle equity loans in Phoenix or Scottsdale. Many lenders allow you to apply online and complete everything in person; the best part is they won’t run a traditional credit check!
If you face a scenario where you can’t make the payments and fear a default, you should take the initiative and contact the lender. Even though they can repossess your vehicle after a default, that’s not something they want to do, and they’ll likely help you restructure the loan with a lower payment or better interest rate.
Selling your car if you still have the pink slip may be better than missing payments and getting hit with late fees and penalties. Of course, it avoids the worst scenario of losing your car to a title loan repossession(Always check on the updated laws and consumer protections that cover repossessions in cities like Tucson and Peoria). Finally, you could consider a consolidation loan or borrowing from a friend to cover emergency expenses and avoid working with a local title loan lender.
Title loans are available online in AZ, and Car Title Loans 123 can get you on track with a same day loan using your car or truck as collateral.
There’s no shortage of lending options in Arizona, and finding the best company that matches your requested loan amount and repayment period is best. Apply online with Car Title Loans 123 or contact us at 844-567-5011 to get matched with a local lender.