If you’re facing unemployment in Arizona and need emergency financial help, you may be wondering if you can qualify for a title loan. Arizona title loans are secured by your vehicle title and may consider various forms of income beyond traditional employment.
In this guide from Southwest Title Loans, we will explain how you can address emergency financial needs with a title loan in Arizona. We will review why you can be approved while receiving unemployment benefits and provide essential details about car title loans, including the requirements and approval process.
Can I Get A Title Loan While Unemployed In Arizona?
A car title loan in Arizona is a secured borrowing option that lets you receive money if you have fully paid off your vehicle. You can use your vehicle’s title as collateral, as long as it is clear of any outstanding liens, debts, or judgments. You can borrow up to $15,000 based on your vehicle’s value.
While the most important element for approval is your lien-free vehicle title, direct lenders will likely check your income to ensure you can afford repayment. However, they are not necessarily checking that you have a job, but rather an income source that can help you repay the loan.
You can get title loans while unemployed as long as you are collecting unemployment benefits or have an alternative revenue source you can use for repayment. Only borrow these financial hardship loans if you feel secure in your alternative income source.
What Alternative Income Is Accepted?
One of the ways you can get approved for emergency loans while unemployed is with unemployment benefits. However, that’s just one income source direct lenders may accept for unemployed borrowers. You have many other options for securing your car title loan.
Here are some other alternative income sources you can use to repay an auto title loan in Arizona:
- Unemployment benefits – An Arizona resident receiving unemployment benefits while searching for a new job may still qualify if they have a paid-off vehicle and can provide documentation of benefit payments. In Arizona, you can receive between $236 and $320 weekly for up to 24 weeks.
- Disability benefits – You can collect disability benefits if you are over 18 years old and a medical condition has left you unable to work for at least the next 12 months. How much you can make monthly depends on your living situation. Those who can pay for their own housing can receive up to $994 per month.
- Social Security – If you are of retirement age, you can receive money from your Social Security benefits. This monthly check is to help you afford expenses after you stop working. How much you’ll get depends on your lifetime earnings, the average of 35 years of earnings, and when you retired.
- Side hustle income – When you’re between salaried positions, you can do side gigs to make extra cash. These can include driving for Uber or Lyft, graphic design, social media marketing, copywriting, editing, etc.
While you can get approved for title loans without employment, you must prove that you have money coming in to afford repayment. You should also only borrow money if you’re confident you can repay the loan. If you feel you can, continue reading to learn more about the requirements.
What Are The Required Items For Title Loans In Arizona?
Most direct lenders don’t have specific Arizona title loan income requirements. How much you’ll end up affording repayment depends on what you’re approved for. To determine how much you can borrow (and whether you can borrow at all), you must collect the required items.
The following are the required items for Arizona title loans:
- State-issued photo ID – You can only get a title loan in Arizona if you are over 18 years old. To prove your identity and age, you must provide a state-issued photo ID that displays your full name and date of birth. You can use a driver’s license, passport, Arizona state ID, or student ID card.
- A lien-free vehicle title in your name – As mentioned above, you will need to provide a clear vehicle title to get approved for a title loan. We will place a line on your title, which we can only do if it's lien-free. You will get the title back after repayment. Keep in mind that the name on the vehicle title must match your name on your ID. If the title isn’t in your name, you will need to get a title transfer before applying.
- Your vehicle for a quick inspection – We will need to inspect your car, truck, or van to see what it's worth. The value of your vehicle will influence how much you can borrow. We will look at its age, make, model, condition, mileage, service history, and modifications.
If you have these items and feel like a title loan is the right option for your financial needs, you can proceed with the process for how to qualify for a title loan without a job. Read on to learn the steps involved in the qualification process below.
How To Get An Unemployed Title Loan In Arizona
You can get approved for a car title loan in Arizona in less than one day. These short-term loans in Arizona are available to borrowers within one business day, as long as you meet the requirements and qualify. You can start the process online and finish it at our nearest Arizona store branch within 30 minutes.
Learn how to qualify for a same-day title loan in Arizona below:
- Submit an online loan inquiry on this website
- Answer our phone call to discuss how title loans work
- Bring your required items to the closest Southwest Title Loans location
- Have your documents verified and your vehicle inspected for its value
- If approved, sign the loan agreement to finish the process
- Receive your title loan funds later that day or by the next business day
FAQs About Arizona Title Loans
Do I need a job to qualify for a title loan?
You don’t necessarily need a job to qualify, but you do need income. You can use some of the alternative income sources we mentioned above to prove your ability to afford loan repayment. If you don’t have any income, you won’t get approved.
Can I get a title loan with bad credit?
You can qualify for a title loan for bad credit because you provide collateral to secure the loan. While we may conduct a soft credit check, your credit score is not the only element that we will check for. As long as you meet the other requirements, you may still get approved.
How long does it take to get a title loan?
You can receive your emergency cash within one business day. The whole process can take less than 30 minutes. The earlier you complete the process (such as before 12 PM), the more likely you are to receive the funds later the same day.
Get A Title Loan With Unemployment In Arizona – See If You Qualify For Up to $15,000
At Southwest Title Loans, you can get approved for title loans with unemployment benefits, as long as you can show your ability to afford repayment. These short-term financial solutions are available to those who have fully paid off their vehicles and can pay back what they borrow.
You can begin the fast review process with our secure online form. Get emergency cash in Arizona by first filling out our online title loan form, then visiting us in person to verify your requirements in under 30 minutes.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.
