How Does A Cash Advance Title Loan Work?

Borrowing money through cash advance title loans is an option if you’re struggling to make ends meet, but is it right for you? A car title loan can be beneficial when used properly, but like all personal loans, whether it is through a bank or a private lender, understanding your loan obligations is an important part of making an informed financial decision.

Understanding these loans before you apply with us at Southwest Title Loans is important. Keep reading this guide to learn exactly how emergency cash loans work and if they are right for you!

What Are Cash Advance Title Loans And How Should You Use Them?

A cash advance title loan uses your vehicle’s title as collateral to secure the money. A lien is placed on your title for the duration of the car title loan and held onto while you receive a lump sum of money – which can be a payment of up to $15,000.

Once the loan is paid in full, we remove the lien and safely return the title to you. In short, a title loan from us at Southwest Title Loans is a secured loan that requires you to have a title in your name and a vehicle you have paid off.

Collateral is an asset put at risk by you as the borrower to demonstrate your intentions to repay the loan. As you can imagine, security appeals to us since it reassures us that we will profit from our money.

You benefit, too, since you can use the security in the car title to borrow more money, even with poor credit. You also get to keep your vehicle while you make payments on the loan; just be sure to stick to the repayment schedule outlined in your 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!

 

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