Car Title Loans in Tucson
A title loan is a loan made with your vehicle (car, truck, SUV, van, etc.) as secured collateral for the lender. When a title loan is approved, a lien is placed on the title of your vehicle and the hard copy of the vehicle’s registration is kept by the lender. Once the debt has been repaid, the lien is removed and the physical copy of the title is returned.
Who Qualifies for Title Loans Tucson?
A title loan is suitable for anyone with a vehicle, even if that vehicle is not completely paid off. Because the vehicle serves as collateral for the loan, it is not necessary to perform a credit check or ask any intrusive personal questions. A bad credit score–or even a bankruptcy–will not affect your ability to obtain a title loan in Tucson.
To find out instantly whether or not your vehicle is eligible, simply apply online any time and see how much it is worth.
How Do I Apply for a Title Loan?
Title loans in Tucson can be applied for online. Approved Money offers an online application at all hours, every day of the week. The internet has made obtaining a title loan easier and faster than ever before.
The first step to getting instant cash is accessing the Approved Money website at www.approvedmoney.com. There will be a tab at the top that says ‘Apply.”
Click on ‘Apply’ and submit the necessary information. We ask for the year, make, model, style, and estimated mileage of the vehicle you plan on putting up as collateral so that we may make an educated estimate on its value.
Once we have valued your car through an automated system, you will receive an instant, free quote. This estimated loan amount will be based on the value of your vehicle.
If you choose to continue with the loan process, we will schedule an appointment at your convenience to speak with one of our highly trained and professional representatives who will guide you in the right direction for your own personal situation.
Once you have decided to take out a title loans in Arizona, we will schedule a time and date for you to drive down to an Approved Money location where your vehicle will be inspected. This is the final step for approval for your loan.
With an approved vehicle, you will be able to leave that day with cash in hand. You need only to leave the registration of the vehicle with us. The vehicle itself remains with you to use as you normally do.
Once the loan has been repaid, the lien on the title of your vehicle will be removed and the registration will be returned.
What Are the Legal Regulations of Title Loans?
Arizona state and the federal government regulate title loans to protect both you as a borrower and us as lenders. Title loans are thus subject to some restrictions.
- Title loans in Tempe, Arizona are legal. Title loans are legal in twenty states, including Arizona.
- The federal limit on title loans is $4,000.
- The monthly interest on a loan under $500 is 17% in Arizona.
- A car cannot be repossessed unless the borrower is completely unable to make payments.
- If a car is repossessed it must be sold in a manner that is deemed commercially reasonable.
- If a car is repossessed, its original owner will always have the right to buy it back by making a full repayment of his or her loan.
What Are the Benefits of a Title Loan?
Title loans are secured by the collateral provided by your vehicle (car, truck, SUV, etc.), so they offer a number of great advantages over other forms of loans.
- Title loans are the fastest way to get cash now. Title loans can be processed in as little as one day starting with our online application. Because we do not need to do a credit check or ask personal questions, we can process your loan at a maximum speed.
- We do not require a credit check. This means borrowers with bad credit or no credit, or borrowers with a checkered financial history, can still be eligible for a title loan. Again, the title loan is backed by the value of your vehicle, so your credit history has no bearing on whether or not you will be approved.
- We do not ask personal questions. Because we have secured the loan with your vehicle, we do not need to ask why you need the cash. The reasons for borrowing money can be embarrassing, and we choose not to pry into our customers’ personal lives.
- The amount you can borrow depends on the value of your car. Your credit score is irrelevant in determining how much you are eligible to borrow. You will be able to turn 25-50% of the value of your vehicle into cash instantly.
- Title loans are cheaper than cash advances or payday loans. We are able to offer much lower interest rates–sometimes up to 50% lower–than payday loans because we have a guarantee in the value of the vehicle. In this way, title loans can be an economical way to get an instant cash infusion.
- You keep your vehicle throughout the duration of the loan. This way, you can continue to drive to work and run errands as you did before with no intrusion into your quality of life. We hold only onto the registration of your vehicle, not the vehicle itself. We hope not to impede your ability to get to and from the places you need to travel.
- You can obtain title loans without a clear title so long as the other owner of the vehicle is notified of your intentions. While this is slightly more difficult than if you were the sole owner of the vehicle, it is generally not an issue with a signature from the other party. If you have lost the title to your car, we can assist you in procuring a new one so that you can borrow against it.
- Repayment schedules are clear and upfront. Title loan companies offer all the information you need to make an informed decision on whether or not to take the loan you are offered. You will never run into surprised charges or fees, and most companies offer an explicit repayment plan so that you can plan your financial future.
Act Now and Get Cash Instantly
Unexpected things happen in our lives that sometimes require an instant infusion of cash. They can be tuition, medical bills, legal fees, or any other number of reasons. When traditional methods of borrowing money–banks, family, and friends–fail, title loans can be a quick way of obtaining the cash you need.
Title loans offer an alternative path for those of us who need help but might have run into some financial trouble in the past.
Painlessly apply on our website and find out how much you can borrow against your car, truck, or SUV using a car title or registration loan. Get a quote instantly and see if a title loan can offer you the financial independence to get back on your feet. A representative will contact you afterward to discuss your options and help you to make the best decision for you.