Arizona Title Loans - How To Qualify & Get Approved

Have you been applying for personal loans but getting rejected because of your credit history? Do you have a vehicle that's completely paid off and titled in your name and can you prove your income? It doesn't have to be difficult to borrow money in Arizona and Car Title Loans 123 has some good news for you: You can get approved for a secured loan that uses your vehicle as collateral and most applicants will qualify with a vehicle valued at $4,000 or more!

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. There are very few credit requirements when you apply online. Borrow $2,000 or more, and most lien free vehicles can qualify!

Requirements For Car Title Loans In AZ

Other than owning a newer vehicle, there are a few additional requirements for a title loan in Arizona. You need proof that the car is titled in your name and has no other cosigners or lienholders. We need a physical copy of the car's pink slip, which will be signed over to the lender once the loan is approved. You'll keep driving the vehicle for the entire lending term, but the lender will be added as a lienholder to the car's title before the funds are disbursed.

You must show proof of income, such as 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. Also, some companies in Arizona will ask to inspect your car at a local retail location in Phoenix or Tucson or anywhere else where they have a physical location.

How Much Money Can You Borrow In AZ?

Loan amounts with a car title loan in Arizona range from $1,000 to $30,000. Expect to borrow 35% to 55% of a car's equity value, which means a $5,000 vehicle can lead to a title loan of around $2,000. The more your car is worth, the more you can borrow, and some lenders in Arizona offer higher percentages with title pawns, where they keep the actual vehicle as collateral.

Do you need emergency cash but don't want the stress of putting up your vehicle as security for a loan? Another way to get cash in Arizona is with a car registration loan. Unlike a car title loan, you use your registration documents as collateral, with loan amounts that range from $500 to $1,500. Many borrowers turn to these loans in Arizona when they need less money than what they'd get from a title lender or if they don't have documentation of the title to their vehicle. All you need for a registration loan is the car's registration documents from the MVD to get money for your vehicle. There's far less risk with a registration loan versus a title loan, as you're not risking a repossession if you default. However, you'll have trouble renewing your registration if you fall behind on the payments and the loan amounts are less than what you would get with a car title loan.

Credit Requirements For For An Arizona Title Loan

Remember that title loans do not have the stringent credit requirements typical for personal loans or mortgages. You don't need a decent credit score; most lenders won't even run a standard credit check when underwriting your loan. Title loans use the equity from your car as security, and there's less worry if someone with poor credit applies for a secured loan because equity backs up the loan amount.

There are hundreds of lenders offering bad credit title loans in Arizona. Many are in Phoenix, but direct lenders offer title loans in registration loans in smaller cities 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 to how much money your car or truck is worth.

What To Do If You Live In Arizona And Can't Make The Title Loan Payments

You should always contact the lender if you can't make your title loan payments and fear a default. 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 being 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, if you can't catch up on your loan payments, you could consider a title loan refinance or buyout, where you get new rates and payoff terms with another title loan company in Arizona. A title loan refinance is possible for anyone who's behind on their payments, and we may be able to reduce the monthly payments on your loan by negotiating a lower interest rate or reducing the loan amount. Some customers can even qualify for a loan buyout, where another lender in Arizona offers to buy out their existing title loan even if the loan is in default. You'll get a fresh start with a new title loan repayment term, and most buyouts have lower interest rates than you initially had . Contact Car Title Loans 123 at 844-567-5011 to learn more about our refinancing and buyout options today!

Title Loans In Arizona With Car Title Loans 123

Title loans are available to anyone in Arizona who can show proof of income and owns a lien-free vehicle. Car Title Loans 123 can get you approved in one business day for a same-day title loan using your car or truck as collateral. Loan amounts can reach $20,000 for some high-value trucks and SUVs!

There's no shortage of lending options in Arizona, and it's best to find a company that matches your requested loan amount and repayment period. Apply online with Car Title Loans 123 or contact us at 844-567-5011 to get the best rates on a car title loan! We can provide a quote in less than an hour, and all we need is your contact info, vehicle details, and requested loan amount to get started!