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Calculating How Much You Need For An Arizona Car Title Loan

When you get an Arizona car title loan, while it may help you with your emergency expenses, you will have to repay it. This means it is important for you to calculate just how much you will need for the loan amount you receive. If you don’t, you might end up burying yourself deeper in debt.

This is why it is important for you to fully understand the debt you already have – maybe even by using a debt calculator – so you can know how to use this loan and how you’ll be able to pay it back.

What Is The Most You Can Get From An Arizona Title Loan?

One of the most significant factors that influence how much you’ll need to repay for an Arizona car title loan is the amount you borrow. So, let’s start things off by exploring the maximum amount you could get through this loan option. When you come to Southwest Title Loans for our car title loan, you can qualify for a maximum of $15,000 by using your car’s title as collateral. However, the specific amount you’ll qualify for will depend on how much your car is worth and its condition.

That process involves a quick inspection of your vehicle by one of our representatives before we can decide if you qualify for approval. They’ll quickly check your car’s physical condition and then refer to a nationally recognized price guide to assess its value. From there, the representative can determine how much you could qualify to borrow. All cars lose their value as they age. Still, you can maximize your vehicle's worth by keeping it in good overall shape.

How Do You Calculate The Amount You Need For An Arizona Car Title Loan?

Now that you know how much you can borrow with a title loan, you should calculate how much you will need and how much you will repay to us. While we ultimately decide how much you can qualify to get, there are things you can calculate to get an idea of how much you’ll need to repay. Here’s a straightforward 4-step process for you to calculate the amount you need for an Arizona car title loan:

man calculating debt on calculator

1. Assess Your Car’s Value

As you read earlier, your car’s value is a significant factor in the cost of getting a title loan. You can find your car's value independently by checking online or browsing recognized price guides. However, it’s important to remember that your assessment and the representative's might differ slightly. Your car’s make, model, and year are not the only factors affecting its worth; its physical condition also affects its value. The representative will perform the inspection as part of the title loan process.

2. Calculate Your Other Expenses

To determine if you can afford to repay the loan amount you receive, you will need to know what your other expenses look like. This is where you’d use a debt calculator to calculate what you already spend. Knowing this number will allow you to see how you’d realistically work in your loan repayments so you can make sure to make them on time per the schedule we will go over when we meet in person.

3. Refer To Loan Terms

When it comes to how much you’ll have to repay overall and what your repayment schedule will look like, will be in your loan terms. It is important you carefully review this paperwork and pay attention to the loan’s duration and amount, as they will affect the overall price you’ll have to pay. If anything is unclear, be sure to consult the representative. Once we are done with the vehicle inspection, we will sit down with you to go over these terms as well.

4. Include Additional Costs

Last but certainly not least, remember to include any additional loan costs. Be sure to confirm whether processing or originating fees apply to your loan situation. Again, use a debt calculator online if you need help adding up the numbers. Once you’ve covered that, you’ll know the total amount of money you will need for an Arizona car title loan. As we said, this information will also be in your loan terms if you ever need a refresher.

person looking over debt for loan amount

What Does The Actual Arizona Car Title Loan Process Look Like?

Now that you know how much – more or less – you would need from your Arizona car title loan, the only thing left to do is to begin the process. The good thing is, if you’ve determined you need this loan, the process is simple. You can even begin the process at home with our online form. While this isn’t the official application, it allows the nearest store location to get your contact information so we can get you into our system and give you a call.

When we do call, we will go over the Arizona car title loan required items and set a meeting for the vehicle inspection. This meeting can happen at the nearest store or you can have us come to you. Either way, we will assess your items and inspect your vehicle to determine if you qualify for approval. If you do, we will help you finish the paperwork. Finally, you could get the loan money later on the same day or the next bank business day.

Get Quick Arizona Car Title Loans Now!

Figuring out the loan amount you need for an Arizona car title loan isn’t as difficult as it might seem at first. It's a matter of knowing your current debt, your emergency expenses, and how the loan payments will impact you. Once you know this, you’ll be able to determine how much money you need. Plus, we here at Southwest Title Loans are always here to help you understand this loan. Don’t wait to fill out the online form so we can let you know how much money you could get.


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

Emma Frost

Emma Frost is a lifestyle and finance blogger with a talent for communication and a passion for financial literacy. She uses her writing talents to explore topics that help her readers gain financial stability and growth.

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