Facts About Car Title Loans AZ Drivers Should Know

by | Jan 14, 2014 | Autos, Loan

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There are a few types of loans available to those who need cash in a hurry. The most common type of loan is a personal loan from a bank. These kind of loans take time and are not always the best option for you if you had credit problems in your past. Payday loans are also an option but if you are not able to pay off the balance of your loan on your next payday, you may face high interest charges and penalties. A third way to borrow money is with a car title loan. With Car Title Loans Services in AZ drivers can keep their vehicle while they make affordable loan payments.

When you apply for a car title loan, you don’t have to worry about being denied because you missed a few credit card payments. The terms of your loan will be based on the value of your vehicle, not your credit score. Lenders understand that many people have financial management issues that affect their credit score and they won’t hold those problems against you.

Title loan companies are in the loan business, not the car sales business so they will work with you to ensure that your payments are affordable. Your payments won’t be so high that you won’t be able to pay them or so low that you will be paying off a small loan for several years.

While your current credit score won’t be a factor in approving your loan, title loan companies require that you have a source of income. When you submit your application, you will need to provide proof that you are employed or have another source of reliable income.

In order to get the maximum value for your title, you will need to own your car free and clear. Bring your car’s title and your car with you when you apply for the loan so the lender can evaluate the condition of your vehicle.

If you need cash quickly and you own a vehicle, consider a car title loan. With Car Title Loans AZ drivers can get the cash they need without good credit.



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