If you’re searching for a way to get access to money fast, you might be considering both online title loans and cash advances. We at Fast Auto Loans, Inc. are here today to help you decide which can help you the most during your financial emergency.

What are the main differences between these lending options? What are the requirements to get the extra cash, and finally, which loan is faster? Learn all of this and more below in our guide on online title loans vs cash advances in Arizona.

Online Title Loans And Cash Advances, Explained

When faced with unexpected expenses, you may need to turn to emergency financing. Fast Auto Loans, Inc. can help Arizona residents facing financial emergencies with our loans. You can borrow a title loan or cash advance, both of which have fast, efficient approval processes. However, there are differences that can determine which is right for you.

Learn more about these two emergency loans below:

1. Cash Advance

A cash advance, also known as a payday loan or payday advance, is a short-term, unsecured loan that lets you borrow money from a future paycheck. As long as you can prove your income, you can borrow fast emergency cash within one business day. You will have to repay the loan with your next paycheck.

While Fast Auto Loans, Inc. does not offer this type of loan, a cash advance can help those looking to fund smaller, less expensive emergencies.

Here are the required items you’ll need for a cash advance:

• An Arizona state-issued photo ID that displays your full name and date of birth
• Your most recent pay stub to verify your income
• A checking account

A cash advance offers a small financial boost, but that may not help when faced with emergencies over $1,000. When you need to fund higher costs, title loans can help.

2. Online Title Loan

Just like a credit card cash advance, a title loan is a short-term loan that allows you to get a financial boost fast. However, the main difference between the two is the fact that a title loan is secured by collateral. You would be asked to hand over your car’s clear title, and the lender will hold on to it until you manage to fully repay the loan.

As the loan is secured by a valuable asset, it is considered less risky for the company. That’s exactly why a lot of lenders would be willing to give you relatively large amounts of cash. In fact, in certain cases, you might be able to qualify for up to $15,000.

How much you can borrow depends on your car’s age, make, model, condition, and mileage, all of which we will look at during an in-person inspection. You also must own your car, truck, or motorcycle outright and have the short list of required items.

You will need the following to get approved for online title loans in Arizona:

• An Arizona state-issued photo ID that displays your full name and date of birth
• A lien-free vehicle title in your name
• Your vehicle for a quick inspection

Is A Cash Advance Or Online Title Loan A Better Option?

Both loan options let you get money fast for a financial emergency. You can receive the money within one business day. However, as you can see from the details above, they cater to different emergency situations.

Below, we’ll review some factors that differ between them to show which is best for you:

• Loan amounts – With a title loan from us, you can get up to $15,000. Your cash advance value depends on the lender, but most won’t yield more than $1,000. That means title loans are better for expensive emergencies, such as medical bills, auto repairs, and home repairs.
• Collateral – Title loan requires you to offer up your lien-free vehicle title as collateral to borrow cash. If you’re looking for a loan without collateral, a cash advance is the better option.
• Income – Payday loans require borrowers to prove they have current income, but that is not the case for title loans. You can get an online title loan with no income required. If you’re between jobs, you might want to consider a title loan. Just make sure you have access to money to afford repayment.
• Repayment – With a cash advance, you’ll need to pay the full amount back with your next paycheck. That isn't the case with title loans; you can repay with monthly or weekly payments, depending on your financial situation. If you want a longer repayment period to build up your finances, we suggest online title loans.

Are you looking for a longer-term financing option that provides more cash? If so, you should go for fast approval online title loans in Arizona. Fast Auto Loans, Inc. can help with our fast approval process that requires just a few steps.

How To Get Approved For Online Title Loans In Arizona

While you can begin the process online, you will need to visit us in person to get approved for title loans. Thankfully, the in-person process takes less than 30 minutes, so you can get approved for emergency cash quickly. Depending on when you complete the process, you can even get same-day cash with title loans.

Here is the approval process for online title loans in Arizona:

• Fill out our online request form
• Answer a phone call to discuss title loan terms
• Bring your required items to the nearest Arizona auto title loan locations
• Have a loan representative verify your documents and inspect your car’s value
• Sign loan documents to finish the process
• Receive your emergency cash later that day or by the next business day

FAQs About Online Title Loans

How long does the title loan approval process take?

Filling out the online form takes less than five minutes. Once you meet with the verification agent, the professional may only take 30 minutes to inspect the vehicle, verify your documents, and determine the amount you qualify for. If you're approved, you’ll find out how to receive your money. This usually happens the following day or on the same day.

How will the title loan amount be determined?

You’ll find out how much you can get during the in-person inspection. The expert will use a nationally recognized evaluation guide to find out the value of your vehicle. The loan amount would be based on that number.

Can you get approved for title loans for bad credit?

Yes, you can get a title loan with bad credit because you use your car as collateral. We don’t require you to prove a good payment history, as your vehicle title serves as collateral in the event you fail to repay the loan.

Get Approved For Online Title Loans In Arizona – Borrow Up To $15,000 Today!

There are plenty of ways to get extra cash fast, and online title loans offered by Fast Auto Loans Inc are definitely something you should consider. If you have already paid off your vehicle and have a clear title, you can use it to get access to up to $15,000 in the shortest timeframe. The in-person meeting may take only half an hour, and you might receive the money the same day.

Ready to get emergency cash using your vehicle’s value? Fill out our online title loan form, and we’ll help you receive the financial boost that you urgently need in no time!

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