Car Title Loans in Apache Junction
Title loans in Apache Junction, Arizona are widely used as a way to take out a personal loan by using the title to your car or truck as collateral for the loan. Title loans tend to be shorter-term loans than a traditional loan, which means that title loans in Apache Junction, Arizona are typically paid off in a tighter time frame than regular loans. Unlike many other types of loans, title loans in Mesa and Apache Junction do not require going through a long waiting period for approval.
If you are thinking about whether a title loan could make a difference for your finances, there are certain criteria you must meet in order to be eligible to apply for a title loan through Approved money.
- You are the only owner listed on the title to your vehicle. Even if you are the only person that drives your car or truck, if there is another name listed in addition to yours on the vehicle title, you will not be eligible for a title loan.
- There are no other liens on the title to your car or truck. This means that your vehicle has to be totally paid off and not be used as security for another loan.
- You must be over the age of 18.
- You cannot take out a title loan on a leased car because even though you have the right to drive the leased car, you are not the actual owner of the car.
At Approved Money we offer additional options to customers looking to make the most of their financial situation. For example, we also offer AZ registration loans in Apache junction. These types of loans should not be confused with title loans because they come with different expectations and obligations of both the lender and borrower than what might be typical for other personal loans. Unlike a typical auto title loan, a registration loan does not place a lien on the title to your vehicle while you are paying off your loan. Also, a registration loan typically becomes due on your next available payday, so it is more similar to a payday loan than a title loan. If you would like more information on registration loans and whether this could be an alternative option for you compared to title loans, please feel free to contact our customer service department.
The Simple Online Application Process
There is no reason to be intimidated by the application for an online car title loan through Approved Money. We make it as straightforward as possible because we do not want anything to come between you and the approval for a title loan that can make a real difference in your financial future. If by chance you do encounter any difficulty in completing the online title loan application, you should contact one of our representatives for assistance.
In completing the online application, the information you will need to provide includes your name, contact phone number and zip code. As soon as your application is submitted online, we get to work in determining an accurate estimate of the value of your vehicle so that you can know how much of a title loan you will qualify for.
Regulations and Laws You Should Know About
Title loans and title loan companies in Arizona are subject to a variety of regulations and are overseen by the Department of Financial Institutions. Some of the most important statutes in Arizona related to title loans include Arizona Revised Statutes (A.R.S.) Title 44, Chapter 2.1, Article 1. and A.R.S., Title 47, Chapter 9, Article 6 (Uniform Commercial Code). In addition to state regulations, title loans in Arizona are also subject to the provisions of Regulation Z of the Truth in Lending Act, which is the major federal regulation that applies to auto title loan companies across the country.
It is a good idea to understand the applicable state and federal regulations related to title loans, but it is even more important that you thoroughly understand the requirements under your specific title loan agreement. Do not sign a title loan agreement without reading every page of the document first. There is important information in the title loan agreement about the total amount of the loan that you must pay off and the interest rate that applies for your loan. In addition, you will find out what happens if you are not able to pay off your loan according to the terms of the loan agreement.
If you end up defaulting under your title loan agreement, then you may lose the title to your vehicle to the title loan company. At this point, the loan company may do whatever it needs to so that the remaining part of your loan is taken care of. This typically involves selling off your car at an auction so that it can apply the proceeds to the loan balance that you owe. This is why it is so important to make sure that you pay off your title loan on time as required and that you keep driving your car.
Reasons Why You Should Not Delay
Title loans can make a huge difference in preventing you from spiraling into financial turmoil. Even if you are not currently in a financial bind, there are plenty of reasons why having some extra money in your pocket could do wonders for you. As long as you are able to pay off the total amount of your title loan within the time that you are required, you get the freedom and flexibility of having extra cash in your pocket and the convenience of being able to keep driving your car. This is a major reason why many vehicle owners in Arizona consider title loans over payday loans or other types of personal loans.
One of the ways that you can boost your credit score is by continuing to make all of your bill payments on time. A title loan can give you the extra cash to make that happen. Along those same lines, when you make timely payments on your title loan and fulfill all of your obligations under the loan agreement, you are able to establish an even better track record of financial responsibility to improve your credit score over time. While title loans do not require a credit report, they do provide a unqiue opportunity to help you repair yours if necessary.
It can be embarrassing to have to ask friends or family to borrow some cash when you are in a tight financial spot. If you are approved for a title loan, you can cover all of your expenses without having to sacrifice your dignity. These are shorter term loans, which means that you can be back on track and have your car title in hand again in no time with regular loan payments.