Online equity loans may be a term you see when researching ways to borrow against a vehicle. At Fast Auto Loans, Inc., the relevant product is an online title loan, which allows qualified Arizona borrowers to start an inquiry online and use a qualifying lien-free vehicle title as collateral.

Borrowers with different credit backgrounds may be able to start an inquiry. However, approval is not guaranteed, and the amount available depends on the completed application, vehicle evaluation, ability to repay, and other requirements.

This guide explains how online equity loans and online title loans work, what items are needed, how bad credit may factor into the process, and what to review before signing an agreement.

What are Online Equity Loans?

Online equity loans allow you to use your car (or other vehicle) as collateral by tapping into its equity, meaning the portion you fully own. Unlike unsecured loans, the vehicle’s value helps secure the loan, which can make approval possible even if your credit score is low.

Here’s a simplified version of how it works:

1. You apply by submitting your car’s details.
2. A loan agent estimates your vehicle’s equity.
3. If approved, funds are sent to you, and you repay the loan over a short schedule.
4. Because the loan is secured, poor credit does not automatically disqualify you.

Are Online Equity Loans the Same as Online Title Loans?

The terms are sometimes used similarly, but it is important to understand the actual product requirements.

An online title loan uses a lien-free vehicle title as collateral. This generally means the vehicle is fully paid off and no other lender or finance company is listed as the lienholder.

Fast Auto Loans, Inc. also offers registration loans, which have different requirements and may be an option for some Arizona borrowers who are still making vehicle payments.

Understanding which product matches your vehicle ownership situation can help you avoid starting the wrong process.

The Benefits Of Online Title Loans

Here’s why so many people choose online title loans in Arizona:

1. Widely Accessible: The most important advantage of an online equity loan is that it’s accessible to a wide range of borrowers. That’s because it does not require perfect credit to get one. Regardless of whether you have good or bad credit, you can proceed if you meet the loan’s short list of requirements.
2. Few Requirements: As mentioned above, an online equity loan only has a few requirements. That makes it quite different from other kinds of loans on the market that require many documents and processes to complete. Instead, having a short list of requirements means you won’t need much time to gather the necessary items to qualify.

   • You only need:

• • • A driver’s license or state-issued ID
    • Your vehicle for inspection
    • A lien-free car title in your name
  • No mountains of paperwork required.

3. Fast Processing: Fast processing times are another reason this loan can be helpful, especially in an emergency. For instance, the in-person part of the process can take as little as 30 minutes to complete. That means you won’t have to worry about disrupting your daily schedule too much to urgently get the money you need.
4. Friendly Support: Borrowing money can be overwhelming to many people, no matter how many times they’ve done it. You can expect plenty of friendly support from a helpful representative during the process. They’ll ensure you understand what’s required. Plus, you can ask them questions to continue with total peace of mind.
5. Fast And Easy To Start: Online equity loans suit individuals with bad credit because they’re fast and easy to start. The process begins when you submit your information through the easy online form. That form is available on this website 24/7. That means you can apply outside of regular business hours from the comfort of your mobile device! Soon after you do that, a representative will call you to discuss the loan and your financial needs.

Can You Apply With Bad Credit?

Borrowers with different credit backgrounds may be able to start an online title loan inquiry.

Poor credit does not automatically prevent someone from applying. However, having bad credit also does not guarantee approval.

The complete review may consider factors such as:

• Application information
• Vehicle value
• Vehicle title status
• Ability to repay
• Other eligibility requirements

Ask a representative how the current review process works before moving forward.

If improving your credit is also a goal, consider checking out our guide on how to fix your credit report for additional tips.

How Do You Get Started With An Online Title Loan?

Starting is easy. Just follow these steps:

• Submit your info through our online inquiry form.
• A representative will call to confirm your details.
• Bring your vehicle and documents to a meeting spot.
• Get approved and receive your cash, possibly the same day!

Remember to ask the representative questions at any point during the process. They’re there to help, so they’ll be more than happy to clarify anything unclear.

Begin The Online Title Loan Process Today!

Getting an online equity loan is quick and easy, even with bad credit! Contact Fast Auto Loans, Inc. through the easy online form, and a representative will call you soon. In the meantime, please understand your financial needs and prepare the required items. Doing that will help the process move as smoothly as possible!

Looking for a store near you? Visit our locations page to find one close by.

Frequently Asked Questions

What are online equity loans?

The phrase online equity loans may refer to loans connected to vehicle value. In this guide, it refers to starting an Arizona title loan inquiry online and using a qualifying lien-free vehicle title as collateral.

Are online equity loans the same as online title loans?

The terms may be used similarly, but the actual product requirements matter. Fast Auto Loans, Inc. title loans require a qualifying lien-free vehicle title and a vehicle inspection.

Can I apply for an equity loan with bad credit?

Borrowers with different credit backgrounds may be able to start an inquiry. Poor credit does not automatically prevent someone from applying, but approval is not guaranteed.

What do I need for an online title loan?

You generally need a driver’s license or another state-issued photo ID, a lien-free vehicle title, and your vehicle for inspection.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.