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The 6 Most Misunderstood Facts About Online Title Loans in Arizona

So you need some quick cash to deal with unexpected expenses. You might have thought about applying for online title loans AZ, but there might be some misunderstandings around title loans that you’ve been wondering about.

This article puts the 6 most common misunderstands about online title loans AZ to rest so you can learn the truth. Read on to find out what they are.

Online Title Loans: The Most Common Misunderstood Facts (and the Real Truth!)

Misunderstanding 1: Anyone Can Apply For Online Title Loans AZ

While title loans are possibly the most accessible loans out there, it’s not the unregulated wilderness many make them out to be. The process is regulated and transparent, and you do have to satisfy certain requirements to be eligible.

Namely, you must be a legal adult (over 18 and able to prove it with valid identification) and you must be the owner of your vehicle (you won’t be able to use another person’s vehicle to apply – even if you’ve been driving it for years).

Misunderstanding 2: Applying For Online Title Loans AZ Will Ruin Your Credit Score

The loan won’t be reported to any credit bureaus, so it won’t impact your existing credit score in any way – either negatively, or positively.

In the same vein, your credit score won’t bear any influence over your chances of getting approved for the loan. You can freely apply not only if your credit score is bad – but if it’s outright nonexistent!

Misunderstanding 3: It’s Not That Different From A Bank Loan – You Still Need Income To Apply For Online Title Loans AZ

Unlike bank loans, title loans have more flexible qualifying requirements – so they can accommodate you if you have no paycheck to fall back on.

While providing the lender with proof of income will make the process a lot quicker and easier, unlike banks, you don’t necessarily need an active income to get approved for online title loans AZ.

Unlike bank loans, you can use your unemployment benefits, worker’s compensation, or even savings as means to pay the loan off. Talk to the loan representative you’ll be working with to explore the options.

Misunderstanding 4: If You Apply For Online Title Loans AZ, Be Ready To Give Up Your Car

In fact, the car stays with you. It’s the title that stays with the lender – hence the name. You’re free to drive your car the same way as before, for the entire duration of title loan payoff.

Misunderstanding 5: You Can’t Apply For Online Title Loans AZ If You’re Still Paying Off Your Car

Well, okay, this is technically true. To apply for online title loans AZ, you need the vehicle title to be in your name and completely lien-free – meaning, with no outstanding financial obligations against it.

But if you don’t yet own the title to your vehicle, you can use the vehicle registration to apply for registration loans. Registration loans are specific to Arizona state and they’re a great alternative for those who need quick cash, but can’t (yet) use their title to acquire some.

Misunderstanding 6: The Entire Online Title Loans AZ Application Process Is Confusing and Takes a Long Time

Title loans are some of the most accessible loans out there – not in the least due to the simple and straightforward application process.

While online loans may seem intimidating to some people – especially those who’ve never applied for any type of online loans (be they short-term fast loans or traditional bank loans) – they soon find out that there isn’t anything to be wary about.

This is because you’ll still be in contact with a living breathing loan representative to walk you through the entire process, despite starting the application online.

The only thing you’ll be doing on your computer is submitting the application with your information to be processed. The actual approval procedure will be conducted in-store or at a location you choose, with a representative present. You can ask them any questions you have about the title loans – and they’ll be happy to assist you. In fact, do ask them, no matter how stupid the question seems. Keeping you comfortable and informed about the process is part of the loan representative’s job.

cash money for title

How Do I Apply For Online Title Loans AZ?

First things first – get the required items in order. You need to have your state-issued ID or driver’s license proving you’re over 18, your car, and the car’s lien-free title (if you don’t have a title, you can use the registration to apply for registration loans!).

Go to the Southwest Title Loans website homepage and submit the filled-out online form. It will get processed in minutes and the information will be sent to your preferred location. You’re free to visit the store or to select a location of your choice to process the loan as soon as you like.

Take the required items with you so that the representative can assess everything and determine if you qualify for the loan.

If you’re approved – you’ll provide the representative with some additional information about yourself and get the cash. This entire process typically takes around 30-45 minutes.

Get an Online Title Loan in Arizona Today

Now that you know the truth about title loans—who can get one and how it really works—if you are eligible, fill out our online form or call us to get yours today. It can help you get the emergency cash you need fast!

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

Louis Tully

Louis Tully is a full-time finance writer offering financial expertise to everyday consumers. He understands the core values of finance and used his writing talents to share his own experiences with money to his readers. His articles teach how financial failures can easily become successes by making new habits and creating realistic goals.

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