What To Know About A Mesa Title Loan
Getting a Mesa title loan can be a daunting prospect for anyone. There are many things to consider, and if you do your own research, you may get conflicting information.
That's why we're going to discuss everything you need to know about getting a title loan in Mesa Arizona, today.
Mesa Title Loan Basics: What To Know
Before learning how to get a title loan in Mesa, it's important to understand what a title loan is. It is a secured loan that uses your car’s title as collateral, allowing you to borrow money based on your vehicle’s value.
With a title loan, you keep your car while you are paying off the loan. But if you default on it, you surrender ownership of your car to the lender so they can recoup their financial losses. But as long as you make your payments on time, you don't have to worry about anything like that.
As for how much money you can get from a Mesa title loan, that depends on the value of the vehicle that you put up as collateral.
Step 1: Determine Your Vehicle's Value
Two main factors contribute to the value of your vehicle when putting it up as collateral for a title loan in Mesa Arizona. The most important thing is the condition of the vehicle. A car in poor shape isn't going to be worth as much, just like if you were trying to sell it somewhere.
This extends to all aspects of its condition, from the paint job to the functionality of the actual components. Either way, the better the condition of the car, the more it will be valued when it comes to a Mesa title loan.
The second factor is the age of the vehicle. You probably know that the resale value of a car generally goes down the older it is. So, if you have an older car, it generally won't be worth as much if you put it up as collateral for a title loan, even if it is in good shape.
The only exception to this would be if you have a "classic" car whose age would make it a collector's item. Such cars are old, but considered vintage, and are thus worth a good deal of money.
Either way, the amount of money you can get from a title loan in Mesa Arizona, mostly depends on these two factors. A newer car in better condition is going to get you a bigger loan, while an older car in poor condition will get you less (or none, if it's in such bad shape that it isn't considered of any value at all).
Step 2: Gather Required Documents For A Title Loan In Arizona
If you want to apply for a title loan, you don't actually need much in order to do so. In fact, you only need three things:
- A state-issued ID, such as a driver's license
- A lien-free title to your vehicle
- Your vehicle
Obviously, you need an ID so the lender can know your identity. You need your vehicle so it can be inspected, which allows a lender to determine how much your car is worth. As for the title, it needs to be lien-free and in your name. Lien-free means a title that has no outstanding loans or claims against it.
That means that, first, the vehicle needs to be owned by you. You can't still be paying it off, and it can't be a company vehicle that you drive. It must be your legal vehicle. You also can't have any outstanding loans against it. That just means you can't be using that vehicle as collateral for any other loan in order to apply for a new one.
Step 3: Submit Your Loan Application With Southwest Title Loans
So, if you've determined by now that a title loan is a good fit for your needs, Southwest Title Loans has you covered. Our application process is quick and easy for everyone. As long as you have the items mentioned in the previous section, you can apply for fast access to cash with ease. If you are concerned about a bad credit score or no credit, our flexible credit requirements are one of the benefits of our car title loans. We welcome all credit to apply, no matter what your credit situation is!
To get started, fill out the inquiry form here on our website. After you submit it, one of our loan representatives will contact you via phone as soon as possible. They will determine a time and place to meet with you. At that meeting, they will verify your documents and inspect your vehicle to determine its value, if you qualify, and the loan amount you qualify for.
Step-By-Step Application Process For Car Title Loans
- Fill out the online inquiry form to receive a call and set up a meeting at a store location.
- Gather your required documents and vehicle to visit the store.
- Verify documents and inspect your vehicle to determine its value.
- If approved, agree to the terms by signing the paperwork, and get the fast cash emergency loan the same day or by the next banking day.
Apply For Your Fast Cash Title Loan In Mesa Arizona Today!
If you are approved for the loan, you can have fast access to cash either that day or the following business day. The process is truly simple and efficient.
Ready to take the next step? Apply for your Mesa title loan online with Southwest Title Loans and get the cash you need fast! Use the online inquiry form, call, or visit us to get started, and we'll help you get the money you need quickly and easily!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.
