How Title Loans Work In Arizona

Written By Emma Frost

Published on October 21, 2021

If you’ve never had to resort to fast loans before, it’s smart to learn a bit about them before applying for one. You have to know how title loans work before you go ahead and get one. If you want to get a title loan in the near future, and the instructions have left you confused, then you’re in the right place. Here is what you need to know about title loans and how you can go about getting one from us at Southwest Title Loans.

What You Need To Know About How Title Loans Work

There’s nothing much complicated about how title loans work in Arizona, to begin with, but here at Southwest Title Loans, we’ve made sure that our process is simple and convenient for anyone to get through quickly.

Before you get into how title loans work, you need to know what a title loan is. This is a loan you receive when you put up your vehicle’s title as collateral. This means your title must be in your name and free of any judgments or liens on it. If not, you will have to go to the DMV and make sure to get your title fixed before coming to see us.

1. Title Loans Are For People Who Outright Own Their Car

If the car you’re driving isn’t outright yours – meaning you are finished paying it off – you cannot get a loan at Southwest Title Loans. You must get that taken care of before you come in for the title loan. And if you aren’t close to paying it off, you can look into our registration loans instead.

Arizona title loans are designed to help out car owners that have emergency expenses they cannot handle alone. Your car’s value and condition determine the maximum loan amount you qualify for and the car title acts as collateral for the loan. Again, for your car title to be able to act as collateral it needs to be:

Completely lien-free – with no outstanding financial obligations such as payments, loans, or judgments placed against it;
In your name – even if you’ve been driving the car for years unless the title is in your name you’re not technically the owner. Have the title transferred to your name at the nearest DMV first, and then you can apply for the title loan.

2. You Need To Be Over 18 And Able To Verify It

When it comes to getting a title loan through Southwest Title Loans, you must be 18 years or older to qualify. And not only that, but you must also be able to prove it. So when you come in to continue the process, you must bring your driver’s license or a state-issued photo ID.

3. Anyone With Either Good Or Bad Credit Is Welcome

Unlike bank loans, your credit history doesn’t influence your eligibility for a title loan all that much. We here at Southwest Title Loans have welcomed people with both good or bad credit to come in. So if your poor credit held you back from coming in, it doesn’t have to! You will not get automatically disqualified if you have poor credit.

4. Getting A Title Loan Won’t Influence Your Credit History

Another difference between bank loans and title loans is that the latter won’t reflect upon your credit history. Title loans are private and we take your privacy seriously. In fact, we won’t report to any credit agencies. This means your loan won’t influence your credit positively or negatively.

5. You Don’t Necessarily Need To Be Employed

As title loans are secured loans, the main strain of that security comes down to providing proper collateral. This means you qualify for a loan amount based on the resale value – as determined by a nationally recognized pricing guide – and state of your car and leave the title with the lender to act as collateral.

Since the collateral protects our assets, you usually don’t need to provide proof of your ability to repay the loan. The means you choose to make payments are up to you. Just make sure you have a secure way to make your repayments.

title loan Arizona

How To Get A Title Loan In Arizona Today

You can easily get started online by submitting a filled-out form on our website. The form will get sent to your nearest car title loan locations in Arizona digitally and you’ll be free to come in and process it as soon as you like.

Take the required items – your state-issued ID or driver’s license, your car, its lien-free title in your name – to the meeting with the loan representative. The loan representative will inspect everything to determine if you qualify for the loan and for how much.

If they approve you, they’ll help you with the final paperwork, and finish the process. You’ll get cash either the same day or the next bank business day. Apply for an Arizona title loan and get up to $15,000! The entire process should last under an hour!

Get Your Arizona Title Loan Today

So now that you know what a title loan is and how title loans work, you are ready to start the process. Get the help you need today with our title loans. Come to our Southwest Title Loans website and fill out the online form when you are ready to begin.

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