Strapped for cash with nowhere to turn? A car title loan in Arizona may be the best solution, even if you have bad credit. Title loans are short terms loans that are perfect for emergency cash needs. The money is typically available the same day, and you can use it for any needs. Medical bills, rent, tuition, or any other immediate bills can be taken care of.
Car title loans in the Arizona can be provided to those with bad credit or even a bankruptcy. Many firms will not even perform a credit check, which works against your credit score. The credit check is not necessary because the process is very quick, and it is for a smaller amount. This eliminates any embarrassing situations for you if you have had financial problems in the past. The title loan is typically for 70% or more of the value of your vehicle, providing the opportunity for a sizable amount of quick cash.
When applying for an Arizona title loan, the following items need to be available:
- Valid Driver’s License and Social Security number.
- Outright ownership of the vehicle with proof of a clear car title. Most titled vehicles are eligible, which include any cars, trucks and SUV’s, large equipment, semi trucks, boats, motor homes and RV’s. Proof of ownership is required.
- Proof of income provided in the form of tax returns, bank statements, or pay stubs.
- The vehicle will need to be available for inspection on site.
The additional benefit of this fast and convenient loan is that it has been regulated by the Arizona Department of Financial Institutions to that the interest rate cannot be at an exorbitant amount. Where some states have rates that run into triple digits and are an unfair practice, expect typical rates to run in the 10-17% range.
When shopping for a car title loan, it is also important to look at the flexibility of payments. Some require bi-weekly payments, but a better situation is every 30 days. When you are having hard times as it is, being able to spread the payments out on the loan will help your overall situation out better. Applications are available online or in person for quicker turnaround.
If you are looking for a car title loan in the Phoenix, Arizona area, then click here. It is important to find a lender that is licensed and has the backing of the Better Business Bureau for your own safety. Smaller companies often have more flexibility and can tailor the terms to your individual situation.
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