Read This Before Getting Your First Arizona Car Title Loan
December 21, 2021 | Emma Frost
Before applying for an Arizona car title loan, it’s important that you understand the basics of a car title loan, its benefits, and more. This is the only way to decide if this kind of loan can really help you out or not. To ensure that you make the best decision, here is some important information you need to know about.
The Basics Of A Car Title Loan
If you are interested in applying for a fast cash car title loan, it’s important that you understand the loan type. Although many people have heard of a car title loan, they don’t fully understand what it entails, resulting in uneducated decisions.
An Arizona car title loan is a short-term loan that uses your vehicle’s lien-free title as collateral. It is an option for emergencies that you have no other way to pay for, such as medical emergencies or emergency travel. You should not use this loan for frivolous spending.
Benefits Of An Arizona Car Title Loan
One benefit of a car title loan is that you can get quite a bit of money for emergency situations. At Fast Auto Loans, Inc., you can get up to $15,000, based on the value of your vehicle. This loan is an option when you need to pay off emergency expenses. Another benefit of a title loan is that you don’t need a great credit score to apply. Unlike bank loans, Arizona title loans welcome all credit types.
The Key To An Arizona Car Title Loan: A Lien-Free Title
Since all credit types are welcome to apply, something else must be used to determine whether you are a good loan candidate. For an Arizona car title loan, the lien-free title is the key. For many individuals first applying for an Arizona car title loan, this is the most confusing part of the application process.
What Is A Lien-Free Title?
The car title is what makes you the legal owner of your vehicle. A lien-free title is one without any loans against it. In other words, you own the vehicle outright if you have a lien-free title. If a title is not lien-free, it means that you are not the sole owner. As a result, you don’t have the right to use it as collateral. If your title is not lien-free, you won’t be able to apply for a car title loan.
What Does A Car Title Look Like?
If you aren’t sure exactly where your car title is, you will be looking for a document that has all of the most important identifying information for your vehicle. This includes the VIN number, make, model, year, license plate number, technical information, and the owner’s identifying information.
What If I Can’t Find The Car Title?
If you can’t find your car title, you can apply for a replacement. In order to do this, you will need to go to your department of motor vehicles. What is required differs from state to state. We recommend calling the branch in advance to know exactly what is needed.
What If The Car Title Is Not In My Name?
Another issue that can come up when you are looking at your lien-free car title is that it isn’t in your name, even if you are basically the owner. This happens often when cars are gifted from one person to another. You will need to get the car title transferred to your name. Once again, contact your local department of motor vehicles to learn about the transfer process.
Other Requirements For An Arizona Car Title Loan
In addition to your lien-free title, there are a couple of other things you will need. Most importantly, you will need your driver’s license or state-issued ID and the actual vehicle for inspection at Fast Auto Loans, Inc. for the title loan. The ID or driver’s license is used to confirm your identity, and the vehicle is used to determine the value of the loan.
What To Expect From Fast Auto Loans, Inc.
If you meet all of the requirements above and need money for an emergency, an Arizona title loan may be an option. You can apply for these loans from Fast Auto Loans, Inc. in Arizona. When you apply through one of our quick Arizona title loans locations, the process can take as little as 30 minutes from the time you meet us. Here are the steps for getting an Arizona title loan:
- Fill out the online form.
- Wait for a representative to call you.
- Meet to have your documents and vehicle reviewed.
- If approved, you can get the loan either the same day or the next business day.
Get Your Arizona Car Title Loan Today
Get the help you need with emergency expenses. After reading this guide, you might feel that an Arizona title loan is an option for your situation. If that’s the case, make sure that your title meets all the requirements. Then, fill out our online form to get the process started. We look forward to giving you a call!