Loan rates and terms
Title Loans are a type of quick short-term financing of up to $10,000 cash advance. They are secured by a borrower’s vehicle title as collateral and are highly available even for bad credit applicants. Repayment terms vary within a month. Most Tempe residents can expect same day funding once they get approved.
How Title Loans work
- Fill out an application form completely online with no store visit or find Title Loan company near you in Tempe.
- Discuss the terms and conditions of the loan, provide your vehicle title as collateral and finalize the process in the company’s location after a car inspection.
- Sign the loan agreement and get the money in less than an hour
How to qualify for a Title Loan in Tempe, AZ?
Car Title Loans are available for any resident of over 18 who can provide the following information:
- A clear car title
- A proof of income
- A Government-issued ID
- Active bank account
- Valid contact information
How to get instant guaranteed approval for a Title Loan in Tempe, AZ?
Title Loans are the fastest way to get emergency financing for those who need money now and can provide a clear car title as collateral. Besides, they are very easy to apply for and get. Just consider all the benefits you can enjoy with Auto Title Loans:
Easy online application
Quick loan processing
No hard credit checks
Bad credit is not a problem
24/7 online service
Same day funding
Are Title Loans available for bad credit?
Yes, there’re a lot of lending companies in Tempe and online who offer Title Loans to bad credit borrowers. They use a collateral to secure the loan and cut down on risks. That’s why credit check and perfect credit score are not the necessary requirement.
Title Loan alternatives for instant cash
Tempe residents in need of urgent funds can either apply for a Title Loan or consider fast and easy Payday Loans of $100 - $1,000. You can apply online in a few minutes. And you don’t need any collateral as Payday Loans in Tempe, AZ are unsecured.
Are title loans legal in Arizona?
You probably know that Title Loans are often governed by the laws of the state where you live. If we talk about Arizona, then Title Lending is legal here. However, in order to be able to operate legally, Arizona lenders must obtain a license from the Department of Financial Institutions.
What Interest Rates Will I Face?
Before you apply for an Arizona Title Loan, you should be aware that the state is trying to protect potential borrowers and therefore limits the amount of interest a lender can charge under ARS 44-291(G) (you can read about it here).
- A loan of $500 or less can carry a maximum monthly interest rate of 17%.
- A loan from $501 to $2,500 in Arizona can have an interest rate of no more than 15%.
- If the amount of the Title Loan ranges from $2,501 to $5,000, the maximum interest rate charged by lenders will be 13%.
- When the loan is $5,001 or more, the lender may not charge an interest rate greater than 10%.
How can I get a Title Loan without a job?
Many borrowers want to know if they can get a Title Loan without proof of income, and the short answer is yes. At the moment, there are a large number of lenders who are ready to provide you with financing even if you do not have a traditional source of income. Since the loan is secured, they have a guarantee that in any case they will receive their money. More often than not, you can provide an alternative source of income in order to be eligible for funding.
What do you need for a Title Loan in Tempe, AZ?
Learn the main ones and make sure you are eligible to apply:
- Be a US citizen or official resident who is at least 18 years old
- Have a regular monthly source of income (no job is obligatory required, but the interest rates you can mow if you have income will be lower)
- Have an active bank account
- Provide proof of identity
- Provide an active bank account
- Provide a social security number
You must also provide documents for the vehicle, such as original vehicle title with solo ownership, current registration, government issued identification matching the name on the title, insurance proof and proof of residency matching the name on the title.
Do Title Loans ruin your credit?
You should be aware that more often than not, a Title Loan has no effect on your credit. This has both its advantages and disadvantages. More often than not, title lenders will not ask for any credit check when approving your application. Most often, a credit check lowers your credit score by 5 points. However, at the same time, you will not be able to improve your credit score with this loan.
How many Title Loans can you have in AZ?
Before applying for funding, it is important to know that in most states you can only get one Title Loan. So if your car title is already collateral for a loan, that means your vehicle cannot be used as collateral for a new loan.
What are the main disadvantages?
Most often, Title Loans have relatively short repayment periods, so it can be quite difficult for borrowers to cope with debts. Most often, this loan is issued for a period of one month. It is also important to note that despite the low interest rate, when you need to extend the loan, the interest rate will get higher.
How do you get around a Title Loan?
At the moment, there are several main options for how you can get around a title loan:
- Pay off your debt in advance. You can always find another job, side job, or borrow money from friends and family to pay off the debt in advance and get the title of your car back.
- Negotiate loan terms. Another option you can try is to talk to the rescued lender and explain your situation. He is not obligated to do it, but you can try to negotiate lower interest rates with him in order to be able to pay off the debt on time.
- Refinance your loan. You can also take out a refinance loan to pay off your loan in advance. Moreover, if your credit has improved since your last loan, then it will be much easier for you to get financing.
Top Title Loan companies in Tempe, AZ
E Z Loans - 1753 E Broadway Rd, Tempe, AZ 85282 - tel: (602) 492-9501
Max Cash Title Loans - 1843 E Southern Ave, Tempe, AZ 85282 - tel: (855) 561-5626