Car Title Loans in Flagstaff
You’re not broke, but you definitely don’t have enough money to pay all your bills right now. The problem is a lack of money, and the answer is to get more money. Sounds simple, but we all know it’s not. If you had more time, getting the money would be no problem. You could work some overtime, get a second job, hold a garage sale or find another option. Unfortunately, you need money right now. Where is money available immediately? At a bank or credit union, or there may be a friend or relative with cash to spare. For residents of Flagstaff, there is also the option of title loans in Arizona.
About Flagstaff Title Loans
Having been a part of the lending industry since the 1990s, most people have probably heard of title loans. They are, to keep it simple, loans given based on the value of the borrower’s vehicle. Loan amounts vary from a few hundred dollars to thousands of dollars. Repayment schedules are often very short, but borrowers do have the option to renew title loans in Flagstaff if they need more time to pay it back.
Title Loans Flagstaff Process:
- Complete an application
- Talk to a representative about options
- Pick up your loan money
Getting Money Fast
Title loans in Flagstaff are probably among the easiest ways to get cash quickly. Our clients are satisfied because we work fast. Loan approval takes just minutes and our clients usually have the money they need in about a day.
How do we make things happen so fast? First, we focus on our clients. Because we connect with borrowers on a personal level, we understand the difficulties of a cash crisis. We know that when a person needs money now it means right now, immediately, today and as soon as possible. Getting the money when it’s too late won’t help so we work fast. Second, we make it easy. You get a loan and we keep your car title while you pay it back. Easy, right?
Title Loans vs. Traditional Loans
Both title loans and traditional loans start with an application, but that is where the similarities end. Traditional lenders accept your application and ask for documentation, such as proof of income, bank statements, employer contact information or tax returns. Other documents may be required, and your credit will be checked. Without a good credit score, you may not be approved for a loan.
Title loan lenders just want to know who you are and what type of car you have. Your vehicle is the loan collateral, so there’s no need for excess paperwork and documentation.
Title Loan Application
Approved Money is here to help people get the money they need, and we don’t make the process complicated with excess paperwork or unnecessary requirements. We don’t have worry about our client’s credit history. If you have the title to a car, you are almost guaranteed to qualify for a loan. Just start by filling out the application online. The application is actually two very short forms that take a couple of minutes to complete. So that you are prepared, this is the information you need to provide.
- Cell phone number
- Zip code
After submitting the forms online, a loan specialist will quickly review your application to determine a loan estimate, which is based on the value of your vehicle. The review happens quickly and includes getting an estimate of your vehicle’s worth from Kelley Blue Book so that we can offer you the maximum loan amount. Factors such as mileage and the condition of a vehicle affect its worth, but Kelley Blue Book bases a vehicle’s value on several factors, including up-to-date market prices, so you can be certain you are getting the best offer possible when you choose Approved Money.
Once our stellar specialist completes this quick application review, we call you to discuss loan options and finalize details. This includes setting up a repayment schedule, which is not the same for each person. Approved Money works with clients to set a schedule that meets their individual repayment needs. We also discuss the loan amount. While a client’s vehicle may be worth enough for a loan of several thousand, the borrower may only need a few hundred. Finally, we determine when you can stop by our facility and pick up your title loans in Flagstaff.
Not every state allows title loans, but fortunately, Arizona does. Just like people everywhere who sometimes fall on hard financial times, residents in Flagstaff need a way to make ends meet. Sometimes the money needs to come quickly, and that’s when title loans help most.
Title lenders are regulated at the federal and state level. The Arizona Department of Financial Institutions licenses and regulates secondary motor finance companies, which includes title lenders. Laws vary by state, but in Arizona, there is no limit on the loan amount, which is great for consumers. There are state guidelines in place for the amount of interest charged, which is between 10 percent and 17 percent. The higher the loan amount, the lower the interest rate.
Title lenders are legally allowed to charge borrowers a late fee of up to five percent of their unpaid loan balance if a borrower does not repay the loan within 10 days of its due date. To avoid this, the law also allows lenders to extend and defer payments, as well as to renew and restate the loan.
Another great benefit of title loan laws in Arizona is the option of registration loans. That means you can get title loans without a clear title. Registration loans are given to people who are still paying for their vehicle. Proof of registration is the main requirement of these loans.
Title Loan Benefits
How many types of loans are applied for, approved and distributed in one day? Sometimes, it takes a few days to complete the entire loan process, but title loans are still one of the best ways to get money quickly.
A couple of minutes to fill out the forms, a few minutes talking to a lender representative, and you’re done.
There is no need to worry about a credit check, employment verification or filling out a lot of paperwork. The most effort you’ll have with a title loan is driving to the lender’s office to pick up the money.
While repaying the loan, we keep the car title, and you keep the car. That means you have the convenience of using your vehicle and don’t have to alter your lifestyle the way you would if we kept your car.
Title loans and registration loans are not the only option when it comes to borrowing money, but when you need it fast, they are a great option. Compared to traditional bank financing, title loans are quicker, easier and less complicated. If you need money now, it’s worth checking out what Approved Money can offer.