What Type Of Loan Is An Online Title Loan?

May 18, 2021 | Daniel Dewitt

 

No matter how much we plan, we will sometimes find ourselves with emergency expenses we cannot handle alone. And we all know that not handling an emergency right away could just mean it getting worse for us financially. If you’re in a pinch and need to get cash together on short notice to deal with a time-sensitive problem, getting an online title loan is one option that could help you out.

Of course, before you apply for this Mesa title loan, there is some research you have to do. You have to know what type of loan a title is and how exactly could it help you. You should never go into any kind of loan blindly. Here is everything you need to know about online title loans from Fast Auto Loans.

Just What Kind Of Loan Are Title Loans?

A title loan is a type of short-term fast loan. Short-term in this instance means it will not completely erase your debt or fix your finances – since it is a loan you have for a short amount of time and has to be paid back.

This kind of online title loan is designed to help you during emergencies. These emergencies can be anything from medical bills, home repairs, late utility bills, and even late rent or mortgage. If you aren’t experiencing these kinds of emergencies, and intend on using the money for frivolous things like shopping or vacation, you should definitely look at a different loan.

What Do “Secured” And “Unsecured” Loans Mean?

A secured loan means you need to provide some form of collateral in order to get the money. In the case of title loans specifically, you’ll be providing your car’s lien-free title as collateral. The maximum amount of your loan will be determined by the condition and resale value of your vehicle and the title will stay with us until you fully pay back the loan.

An unsecured loan on the other hand doesn’t call for any form of collateral. An example of an unsecured short-term fast loan would be a payday loan or signature installment loan. These kinds of loans would be paid back usually when your next paycheck comes in or at the end of the month.

How Do I Qualify For A Mesa Title Loan Online?

To qualify for a Mesa title loan, you need to be of legal age (over 18) and outright own your car. This means your car cannot be financed or have any other outstanding financial obligations against the title.

You will need to provide us with a few items to be eligible for the loan. You will need the following required items when we meet:

• A driver’s license or state-issued photo ID to prove you are 18 or older;
• Your car for a quick inspection to determine its value and condition;
• Your car’s lien-free title in your name. Lien-free simply means it is free of outstanding liens.

 

 

Can I Get A Title Loan Online If My Credit Is Bad?

One benefit to a title loan online is all credit types can apply for a Mesa title loan online.

As long as their required items are in order, your poor – or even nonexistent – credit will not cause us to automatically deny you approval. And, even better, getting a title loan won’t influence your credit history at all.

For a loan to have an impact on the borrower’s credit history, it must be reported to a credit bureau. Fast Auto Loans Inc. doesn’t report its loan information to any credit bureaus. If you apply for an online loan at Fast Auto Loans Inc. the loan information will remain entirely between you and us.

Can I Get A Title Loan Online If I’m Unemployed?

If you happen to find yourself unemployed you are still eligible for a title loan even if your paycheck is irregular. Our loan representatives at Fast Auto Loans, Inc. will go over everything to do with how payments work and the specific loan terms when you meet with them in person.

How Do I Get A Mesa Title Loan Online?

You can easily start the process for a Mesa title loan online by filling out an online form on the Fast Auto Loans Inc. website. After you submit the filled-out form, the information will be sent to the nearest Arizona location, where one of the loan representatives will process it and get in touch with you.

The loan representative will provide further instructions, answer any questions you might have, and schedule an appointment for you at either a location of your choosing or at a store. Just search for ‘title loans near me’ to find our locations.

Take the required items – the state-issued ID or driver’s license, the car, and the car’s lien-free title in your name – to the meeting. The loan representative will assess everything and determine if you qualify for the loan and what the maximum amount you could qualify for.

If you’re approved for the loan, you’ll finish the necessary paperwork and get the cash either the same day or on the next bank business day at the latest. This entire procedure shouldn’t take more than an hour and could take as little as 30 minutes.

Hopefully, now you have everything you need to decide if a Mesa title loan online would work for you or not. You now know what type of loan it is and how it should be used. If you feel like a title loan online would help you, fill out our online form to get started on our process, today.