When an unexpected expense comes up, you may start searching for a cash advance or another way to access money quickly. If you own your vehicle outright, an Arizona title loan may be one option to consider.
A title loan allows qualified borrowers to use a lien-free vehicle title as collateral. With Southwest Title Loans, you may qualify for up to $15,000* based on your vehicle's value and approval of your complete application. You can also continue driving your vehicle while repaying the loan.
If you're wondering how title loans work, this guide explains what a cash advance title loan means, what you need to apply, how your potential loan amount is determined, and what to review before borrowing.
Key Takeaways
- A title loan is a secured loan that uses your lien-free vehicle title as collateral.
- Southwest Title Loans offers qualified Arizona borrowers up to $15,000*, subject to vehicle evaluation and approval.
- You need a driver's license or state-issued ID, a lien-free vehicle title, and your vehicle for inspection.
- You can start the title-loan process online and complete the remaining steps in person.
- All credit types are welcome to apply.
- You can continue driving your vehicle while repaying the loan.
- Approval and specific loan amounts aren't guaranteed.
What Is a Cash Advance Title Loan?
People searching for a cash advance title loan are generally looking for a way to access emergency money using the value of a vehicle they already own.
At Southwest Title Loans, the actual financial product is an Arizona title loan. It is a secured loan that uses your lien-free vehicle title as collateral.
To qualify, you must own the vehicle outright. That means it needs to be fully paid off so another lender doesn't hold a lien against the title.
Your vehicle is then inspected to help determine its value and the amount you may qualify to borrow. If your application is approved and you accept the loan, you repay the borrowed amount according to the terms of your agreement.
Most importantly, using the title as collateral doesn't mean giving up your everyday transportation. Southwest Title Loans allows borrowers to keep driving their vehicle during repayment.
How Do Title Loans Work?
If you're asking “How do title loans work?”, the process can be broken down into a few main steps.
1. You Use a Paid-Off Vehicle as Collateral
The loan is secured by the title to a vehicle you own outright.
Southwest Title Loans requires a lien-free title to your vehicle, which means you can't still owe money to another lender on that title.
2. Your Vehicle Is Inspected
Your vehicle needs to be available for a brief inspection.
The inspection helps Southwest Title Loans determine how much the vehicle is worth and how much you may qualify to borrow.
3. You Receive a Loan Offer if Approved
After reviewing your required items, completed application, and vehicle evaluation, the lender determines whether you qualify and what amount may be available.
Southwest Title Loans currently offers title loans of up to $15,000*, but the amount isn't guaranteed. Actual loan amounts vary based on the vehicle evaluation and approval of the complete application.
4. You Review the Agreement
If you're approved, you'll receive the loan terms to review before deciding whether to accept the offer.
5. You Keep Driving Your Vehicle
You don't have to leave your car with the lender.
You can continue driving it while making payments according to your loan agreement.
Why Choose A Car Title Loan For Your Financial Emergency?
Cash advance title loans are useful in a number of ways because they were specifically designed to help you with your emergency expenses. Of course, if you can manage your expenses without borrowing money, it’s always better to do so, but that ideal scenario isn’t always realistic.
Sometimes you get into situations that will only get worse if you don’t handle them as soon as possible. For example, here’s what our customers use Arizona title loans for:
- Urgent medical bills
- Home repairs
- Rent or utilities
- Emergency travel expenses
In the short term, a title loan can help you stay afloat financially while you look at the bigger picture. The expenses on an account aren’t going to just disappear, and ignoring them will only result in more fees later on.
As such, it’s worth considering borrowing as a way to alleviate your immediate financial stress so that you can focus on rebuilding your savings over time. Just make sure you don’t use this loan for any frivolous spending because that would not be using the loan properly.
What’s Needed To Qualify For Car Title Loans?
The next thing you need to know is what required items we need to see. As you can assume, there are certain requirements you need to meet and certain items we need to see before we can decide if you qualify for approval.
The good thing is our cash advance title loan has simple requirements. We don’t make you bring in a long list of items or meet crazy requirements. All you will need is the following:
- Your driver’s license – Any state-issued ID like a passport, military ID, student ID, or non-driver’s license are accepted.
- Your lien-free title in your name – Clear any liens from your title by paying your lien holder before you apply to get a loan.
- Your car itself – Bringing your car is essential so that the representative can evaluate it. Make sure your title and car match if you have multiple vehicles!
If you don't own your vehicle outright or if you would prefer not to use it as collateral you can ask us about our installment loans.
The Simple Process Of Applying For Emergency Cash Loans
We make getting urgent cash at a moment’s notice easy. First, you’ll need to enter some basic information on our quick request form which you can find right on the homepage of our website. Once you do, expect a representative to call you back when possible.
They’ll check your information and explain what you’ll need to proceed. You’ll also set up an in-person meeting either at the nearest Arizona cash store or your chosen location.
Whichever way you decide to have your in-person meeting, you’ll need to bring the items mentioned above to the meeting – especially your vehicle for a quick inspection to determine its condition and resale value. After the associate has gone over your vehicle, they’ll assess whether you’re approved for the loan.
If you are, they will go over the rates and terms and have you finish signing the paperwork. After you are done, you’ll receive your money the same day or the following business day.
Get A Cash Advance Today With Arizona Title Loans!
Cash advance title loans through us at Southwest Title Loans can help you with short-term cash flow, freeing up room for you to focus on financial recovery in the long term. Used properly, they can help you tackle unexpected expenses quickly.
Now all that is left to do is get started on the process! To do that, all you have to do is click on our homepage to fill out the online form to contact the nearest store location in Arizona. Get help with emergency cash loans today!
Frequently Asked Questions About Cash Advance Title Loans
How do title loans work?
You provide a lien-free vehicle title, state-issued ID, and the vehicle for inspection. The vehicle is evaluated to determine how much you may qualify to borrow. If approved, you review and sign the loan agreement while continuing to use your vehicle during repayment.
How much can I get with an Arizona title loan?
Southwest Title Loans offers qualified borrowers up to $15,000*. Actual amounts depend on factors including the vehicle evaluation and approval of the complete application.
What do I need for a title loan?
You'll need a driver's license or state-issued ID, a lien-free title to your vehicle, and the vehicle for inspection.
Can I apply for a title loan online?
You can start the Southwest Title Loans application process online. The current process then directs applicants to an Arizona location for the vehicle inspection and completion of the remaining steps.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.
