Can You Get A Loan Against A Car Title And Still Drive It?
Yes, qualified borrowers can generally keep driving their vehicle while repaying a title loan. With this type of loan, your vehicle title is used as collateral, not the vehicle itself.
If you are asking, “Can I get a loan on my car title and still drive?” the answer is generally yes. Fast Auto Loans, Inc. helps Arizona borrowers start the title loan process online, review the required items, and complete the remaining steps with help from a representative.
Before applying, it is important to understand how title loans work, what happens to your vehicle title, and what to review before signing any agreement.
How Title Loans Work in Arizona
A title loan is a secured loan that uses a lien-free vehicle title as collateral. To apply, you generally need to own your vehicle outright and have the title in your name.
The vehicle is inspected to help determine its value. That value can affect the amount available if you qualify.
Fast Auto Loans, Inc. offers Arizona title loans from $300 to $15,000 for qualified applicants. Actual loan amounts depend on the completed application, vehicle evaluation, ability to repay, and other requirements.
Can You Keep Driving Your Car With a Title Loan?
Yes, borrowers can generally keep driving their car while repaying a title loan.
Fast Auto Loans, Inc. does not require you to leave your vehicle behind when you apply. Instead, the title is used to secure the loan. You keep your vehicle and can continue using it for work, errands, family needs, and daily transportation.
However, the vehicle title still secures the loan. If payments are not made according to the agreement, the vehicle may be at risk. Review the full agreement carefully before signing.
What You Need to Apply for a Car Title Loan in Arizona
The list of requirements is simple. You won’t need perfect credit or stacks of paperwork. All you need are:
- A valid driver’s license or state-issued ID
- A lien-free vehicle title in your name
- Your vehicle for a quick inspection
The condition of your car helps determine how much you qualify for, since the loan amount is based on its value.
For more insights on why people choose title loans, you can also review the advantages of title loans.
When Do You Get Your Title Back?
Once we put a lien on your title, we will hold it while you pay the loan in full. Don’t worry, your title is in safe hands. Just make sure that the title you are using doesn’t already have an outstanding lien on it. If it does, you’ll have to get that handled before you come in. As for when you get your title back, the title will be returned to you once you finish repaying the loan.
What Condition Should Your Car Be In?
When it comes to your vehicle, you’ll have to make sure it is in decent condition. Remember, the amount you qualify for with an auto loan depends heavily on your vehicle's worth. This means if there is major damage, you might not get the amount you are hoping for. But don’t worry, the inspection only lasts five minutes in total. We calculate its value by looking at the following factors:
- Your car's age
- Your car's make and model
- Your car's odometer reading
- Your car's cosmetic and mechanical condition
What If My Car Is Not Fully Paid Off?
To use a vehicle title for a title loan, the title generally needs to be lien-free and in your name.
If you are still making payments on the vehicle, another lender may still be listed as the lienholder. In that case, the title may not qualify for a title loan.
Fast Auto Loans, Inc. also offers registration loans in Arizona, which may be an option for some borrowers who do not have a lien-free title. Ask a representative which loan option may fit your situation.
How the Arizona Car Title Loan Process Works
As you can see, you don’t have to worry about losing your vehicle when getting personal loans against car title. Since you now know you can keep driving your car while you repay the car title loan with us at Fast Auto Loans, Inc., follow the simple steps here to get one to fund your emergency right now:
- Complete the online inquiry form with the relevant information so it can go to the nearest car title loan location. Be accurate here, so you don't prolong the process.
- We will give you a call to tell you about the personal documents you need and set up a meeting location. You can choose to come to our store or ask us to visit your home or workplace.
- Regardless of the destination, be sure to have the requirements with you so we can assess the items and inspect your vehicle.
- We will then determine if you qualify for approval and for how much. If you agree to the fee, as well as the terms and interest rates for the auto title loan, we will help you finish the paperwork. Once done, you can receive the money the same day or the next.
Start a Title Loan Inquiry With Fast Auto Loans, Inc.
If you are asking whether you can get a loan on your car title and still drive, Fast Auto Loans, Inc. can explain the current Arizona title loan process for qualified borrowers.
Now you know you can still drive when you get a loan against car title, all you need to do is give us a call or complete the online form to access our loan offers. Our representatives are on hand to offer the guidance and support you need when considering your borrowing resources.
Once you complete and submit the Arizona title loan online request form, you'll get a call soon after. So just fill out the online form from the homepage to start the car title loan process in Arizona right now.
Frequently Asked Questions
Can I get a loan on my car title and still drive?
Yes. Borrowers can generally keep driving their vehicle while repaying a title loan. The vehicle title is used as collateral.
How do title loans work?
Title loans use a lien-free vehicle title as collateral. Your vehicle is inspected, your documents are reviewed, and the amount available may depend partly on your vehicle’s value.
What do I need for an Arizona title loan?
You generally need a driver’s license or another state-issued photo ID, a lien-free vehicle title in your name, and the vehicle for inspection.
Do I need to leave my car with Fast Auto Loans, Inc.?
No. Borrowers can generally keep driving their vehicle while repaying the loan.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.
