Title Loans: An Option to Consider When All Other Options Fail
May 8, 2020 | Louis Tully
We all know life can be hectic and expensive! Whether it is a debt you knew about or something that completely took you by surprise, money issues can create a lot of stress. One option you can consider is a car title loan from Arizona.
A title loan is a loan using a vehicle title as collateral for that loan. These loans are designed to be a short-term cash flow solution and not designed as a long-term financial solution. When you have an unexpected expense or even an expected expense you just cannot manage and need cash fast, a car title loan can be the option you are looking for.
Benefits of A Car Title Loan
You Get to Keep Your Car
The first benefit of your loan is being able to keep your car while you pay your loan off. Arizona understands that you need your car for everyday living. The loan from Arizona is based on your car’s title, not your actual car. As long as the title is in your name and is clear of any loans or judgments, you are free to get a title loan.
You Can Pay for Unexpected Bills
When you are dealt with unexpected expenses, your loan can come in handy. If you or your loved ones end up in the hospital unexpectedly, or damage is dealt such as a pipe bursting in your home, those bills can be astronomical! With a fast auto loan, you can rest assured you’ll be able to pay those bills in no time at all.
You Can Easily Enjoy the Big Moments
Your loan can also pay for your big moments. You could use your loan to pay for your upcoming engagement and wedding. Engagement rings are crazy expensive – and don’t even get me started on wedding dresses. Your title loan can help pay for all of this and give you your dream wedding. You can also use your title loan around the holidays. Use your title loan to buy presents or even your Christmas dinner. Birthdays are also completely doable with the help of title loans. And finally, when you are ready to retire, a fast auto loan from Arizona can put your mind at ease. Getting your finances in shape now puts you at a great place when retirement comes knocking. Especially since you do not need to have credit and can still keep your car while paying for the loan, it is the easiest option to help you out.
You Can Fix Your Credit
We all know how important it is to have good credit and how easily we can ruin it. And having bad credit can make us feel like we are drowning in debt and stuck in our poor financial situation. With a loan from Fast Auto Loans, you can take the steps to fix your bad credit. The best part? It doesn’t matter if you have bad credit or no credit at all; you are still eligible to get your auto loan in Arizona! We all know how bad credit emerges. You have bills and payments that you just cannot make so the debt starts to rack up. With your title loan, you can finally pay those bills and take the steps you need to get your credit back into shape.
Refinance Your Loan Once You Are Ready
The best part about your car loan is the ability to refinance it once you are ready. What does that even mean though? To put it simply, that means you make bigger payments to your loan or even take out another loan to pay for the car title loan you have. Why would you want to do this? Well, the quicker you pay off your loan, the quicker you can get rid of that payment.
You would only refinance your loan during certain circumstances. Maybe your financial situation is in better standing and getting your loan taken care of quicker is now possible. Maybe your interest rates have improved even though your financial situation hasn’t improved. Lower interest rates mean paying less in the long term, which can save you hundreds of dollars. Maybe you’ve been really great at keeping on track and your credit score has improved. Since you are at this better place with your credit score, you could find yourself in a position to get better terms for your loan. Or maybe you have found yourself in an even worse financial situation and need lower monthly payments. Whatever your situation, refinancing your auto loan is an option you have and need to research.
What You Need to Know About Title Loans
Before you can begin the process of getting your fast auto loan in Arizona, there are some things you need to know. In order to even begin the application, you must be at least 18 years old and the vehicle has to be in your name. If the vehicle isn’t in your name, head on down to your local DMV and makes sure they put your name on the title. Your title also has to be clear of any existing loans or judgments.
Not only does the state of your credit not matter to qualify for a title loan, but you also do not need a checking account in order to qualify. Fast Auto Loans also does not report to credit agencies if you were to default on your loan. The amount of your loan depends on the value of your vehicle. When you begin your application, you’ll see that the process includes an inspection of your vehicle. That is so the loan representative knows what amount you can receive from your loan. The maximum amount you can receive is $15,000. And in these times where it feels like none of our information is private online anymore, Fast Auto Loans is different. Your personal information is kept completely confidential so you can have peace of mind.
Get Started On Getting Your Fast Auto Loan
Now that you’ve seen all the benefits and know everything you need to know about title loans, you are ready to begin the process. The process is very simple and quick. In about 30 minutes, you could walk out of Fast Auto Loans in Arizona with your cash! All you need to do is fill out the online form and a loan representative will call you right back. Then, you can drive to your preferred Fast Auto Loans location or have them drive to you! Either way, just make sure to bring your driver’s license or state-issued ID, your vehicle title, and your vehicle.