woman holding question mark sign for title loan questions

Six Questions To Ask Before Getting An Arizona Car Title Loan

An Arizona car title loan can be a lifesaver for those struggling with a financial emergency, such as late bills, medical expenses, and auto or home repairs. Rather than overcharging your credit card, you can use your lien-free car title to access quick funds to help handle your urgent expenses.

However, getting a car title loan in Arizona is a huge decision with many factors to consider before proceeding. In this guide, Fast Auto Loans, Inc. explains six questions you should ask yourself before getting a vehicle title loan. You can use these questions to determine whether a car title loan suits you.

What Are Six Questions You Should Ask Before Getting A Car Title Loan In Arizona?

Before making any financial decision, you must weigh all the factors that can affect that decision. Is this the right move for me? How can this affect my future finances? Is there another option that better suits my needs?

Potential borrowers looking to get a car title loan in Arizona should ask all of these types of questions. You must be thorough in your thinking before making such a huge decision.

The following are six questions you should ask yourself before getting an Arizona title loan:

man in car with money from Arizona car title loan

1. Why Do I Need A Car Title Loan?

Getting a title loan should be considered a last resort. If you can afford your expenses without it, you’re better off handling the urgent expenses with your money to avoid repayment. However, those who cannot afford a financial emergency without help can consider an Arizona car title loan.

Ask yourself what you’re using the title loan for. What is this money going toward? This can help with your financial planning, as you can establish how much you need to borrow based on what you need the title loan for.

Asking yourself this question can also clarify whether it’s worth it. If you need it for medical expenses, that is a worthwhile expense. However, getting a title loan to help pay for a new couch is not responsible borrowing.

2. How Much Do I Need To Pay For My Urgent Expenses?

Before you start the process of getting a title loan in Arizona, ask yourself how much you need to pay for your financial needs. Remember, you must repay the money you borrow. You should not ask for a lot more money than you need.

If you know what you’re using it for and how much that costs, you can borrow responsibly by asking only for that amount. Fast Auto Loans, Inc. allows borrowers to receive between $300 and $15,000 for a title loan. Only ask for a high loan amount if you need it to afford your urgent expense and feel you can repay it.

3. Do I Meet All of The Arizona Title Loan Requirements?

Borrowers must meet the title loan requirements to get approved for this type of quick cash loan. You can only receive a title loan if you are over 18 and own your car outright. That means you’ve paid off your car and have no outstanding liens or judgments. You cannot get a car title loan if you’re still paying off your car.

Approval for an Arizona auto title loan involves having the three required items. These items can establish your identity, that you own a car outright, and the value of your vehicle.

The following are the required items you need for an Arizona vehicle title loan:

  • Your driver’s license or other state-issued ID
  • A lien-free car title in your name
  • Your vehicle for an inspection

4. Are These Other Loan Options That Work For Me?

A title loan may not be the right fit for your financial needs. You may not own your car outright or wish to pursue emergency money differently. Before getting a car title loan, consider other options to pay for your urgent expenses.

It’s possible you have friends or family who may be willing to lend you money to handle your unexpected expenses. There are also other loan options, such as a registration loan, for those who wish to use something other than their car title as collateral for their loan. Think through your best options before deciding on an Arizona title loan.

5. Can I Afford Title Loan Repayment?

After getting a title loan, you will be responsible for paying back your borrowed money. You must account for this before getting a car title loan. Needing a title loan means your money is probably tight, so you should only proceed if you can afford to pay the money back.

Missing repayments or defaulting on your loan can be catastrophic. Remember, your car title is the collateral on your loan, so defaulting on your loan can lead to losing your vehicle. You should practice responsible borrowing by only getting a car title loan if you can stay on the repayment schedule.

When speaking to a loan representative during the process, ask questions about repayment to ensure you know what you owe and how long it should take to complete repayment.

6. What Title Loan Lender Should I Borrow From?

If you do decide you want to pursue an Arizona vehicle title loan, you should make sure you research who the best lender is for you. Make sure you look for trusted loan lenders near you and look at their websites. You can learn about their process, terms, and other necessary information to determine which loan lending company works for you.

You can also look for Google reviews to see how other borrowers have found working with them. You should avoid loan lenders with multiple recent negative reviews.

woman calculating how much she needs for Arizona car title loan

Contact Fast Auto Loans, Inc. To Get A Car Title Loan Today!

If you answer the above questions and feel a title loan is right for you, Fast Auto Loans, Inc. is here to help. We offer title loans to borrowers of all credit types. You can start our simple process online and receive your fast cash within one business day. We even let our borrowers keep their cars while repaying their loans.

You can start the process of getting an Arizona car title loan today by filling out the online form on our website’s homepage. Soon after, a friendly loan representative will guide you through the quick and easy process, so you can receive the emergency money you need as soon as possible.

 

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

Daniel Dewitt

Daniel Dewitt is a lifetime blogger with a finely-honed ability to break down, analyze, and interpret economic trends for the layman. He's fiercely invested in spreading financial literacy and helping everyday people gain the tools they need for their own economic success.

Fast Auto Loans Inc

You will be on your way to our store in no time since the call only takes a few minutes. All you need is the following items:

  • Driver’s License or State Issued I.D.
  • Lien-Free Title to Your Vehicle
  • Your Vehicle for Inspection

We also welcome all credit, so fill out our online request form and get started now!

All you have to do to start the process right now is submit our online request form on this page and one of our friendly store associates will call you right back.

When you’re ready to get the emergency cash you need without all the hassles of a traditional loan, Fast Auto Loans, Inc. has you covered. It doesn't matter what has left you in need of cash, because with a car title pawn you could get up to $15,000 today.

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