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AZ personal loans for money

Looking For Personal Loans In Arizona? Here's Where To Start

If you’re interested in personal loans in AZ when you need quick cash for emergency expenses, you’ll have more than enough information here to get the cash you need. The good thing is there are plenty of options out there for you to choose from. All you have to do is first read through the possible loan options you have available and decide which is best for you. Once you learn the pros and cons of each loan, you’ll be able to find the right one for you in no time.

The Different Personal Loans In AZ

When it comes to getting quick money, there are four main personal loans in AZ for you to look through. It is important you know about each of these loans and their pros and cons. Knowing this information will make choosing the right loan for your situation that much easier. So, here is some valuable information on the four personal loans available in Arizona to help you make your decision.

Bank Loans

Bank loans – or credit union loans – are the standard loans you often hear about when you think about loans. Keep in mind that you’ll have to apply at a traditional office and provide extensive paperwork to qualify. Personal loans at banks are usually given in amounts that equal up to 50% of your income. These types of loans are the most traditional and come with long processes – especially if you run into any hurdles along the way.

Pros And Cons Of Bank Loans

Banks are formal institutions that many people are comfortable with when they need money. While they may be just as reputable as us here at Southwest Title Loans, many people have peace of mind when they borrow from the bank that they’ve used their whole life. Banks have very high standards when it comes to lending. Remember that the number one requirement is often a high credit score, omitting thousands from even applying.

How To Apply

If you decide you want to get a bank loan, you can head to your local bank and ask to speak with a representative about getting the process started and what kind of documents you need. You may have to make an appointment to really sit down and discuss everything that is expected of you. Once you have all the required items ready, you can bring any paperwork you find helpful and expect to return for a second appointment to complete the process.

personal loans in AZ

Loans From Relatives

Loans from relatives aren’t formal loans, but they can still help you out when you need money for an emergency situation. This is when your parent, sibling, cousin, or other relative agrees to lend you money over a set period, with or without interest and stipulations. Your relatives want to help you out if you are in a real situation, so don’t forget to really sit down with them and let them in on whatever is going on with you financially.

Pros And Cons Of Getting Loans From Relatives

Borrowing from family could help if you don’t have any assets, income, or savings at the moment to pull from. And since this isn’t a formal loan from a financial institution, it’s usually a fast process to get the money you need. The thing to keep in mind is family loans can get ugly, fast if you don’t make strict guidelines to follow. Be sure everything is in writing to avoid having a falling out with someone you love over money.

How To Apply

As we said, this isn’t a formal loan from a financial institution. This means that there isn’t a formal process you’ll have to follow in order to get this kind of loan. But like other personal loans in AZ, there are guidelines you have to follow. It is important to set the terms on paper that you plan on following. This will hold you accountable and give your relative the assurance they need to know that they will get their money back.

Registration Loans

Another loan on the list of personal loans in AZ is a vehicle registration loan. Here at Southwest Title Loans, we allow you to use your vehicle’s registration as collateral for money – which can be anything up to $1,500. With this loan, we take your creditworthiness and your financial situation to determine if you qualify for approval. And if you do qualify for approval, you do not have to give up your vehicle while you repay the loan.

Pros And Cons Of Registration Loans

If you still haven’t paid off your car, registration loans are a good alternative to title loans because we do not require you to be finished paying off your vehicle. If you are approved, you could get the money on the same day or the next bank business day. Keep in mind that we will have to run your credit prior to determining if you qualify for approval. Also keep in mind that, again, you can only get up to $1,500 if you are approved. This might not be enough for bigger emergencies.

How To Apply

To begin the process, you’ll need your driver’s license or state-issued photo ID, your Arizona vehicle registration, a blank statement from your active checking account, and your Social Security number. Head to the Southwest Title Loans homepage to fill out the form. We will give you a call to schedule an appointment at the nearest Arizona loan location where we will assess your items and run a credit check. After, we will let you know if you qualify for approval and how much we can lend you.

Arizona personal loans for help

Title Loans

Title loans are another loan we offer at Southwest Title Loans. This loan requires you to use your lien-free vehicle title as collateral to secure the money. When you get a title loan, we place a lien on your title and hold onto it while you repay the loan. If you are approved, you could get upwards of $10,000 to pay for emergencies, making this a viable option on the list of personal loans in AZ if you have bigger emergencies.

Pros And Cons Of Title Loans

While title loans use your vehicle’s lien-free title as collateral, this does not mean you have to give up your vehicle while you repay us. You can also still qualify for this loan even if you have poor credit. Do keep in mind that you must have a lien-free title that is in your name before you can apply for this loan with us. And if your vehicle isn’t in good working condition, you might get lower than you need if you are approved for this loan.

How To Apply

Head to our homepage and complete the online form. We’ll get in touch with you to walk you through the rest of the process. This includes us scheduling an appointment for us to inspect your vehicle. The good thing is this inspection can happen at a location of your choice – you don’t have to come to the store for us to inspect your vehicle. If you are approved, we will let you know how much we can lend you.

Which Of The Top Personal Loans In AZ Is For You? It’s Time To Decide!

There are plenty of personal loans in AZ for you to choose from if you need quick cash for emergencies. And with this guide, you now know the pros and cons of each loan. If you decide that either title loans or registration loans will help you with your emergency expenses, come to Southwest Title Loans for the help you need. Fill out our online form for either loan to get started on our simple process right now.


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

Emma Frost

Emma Frost is a lifestyle and finance blogger with a talent for communication and a passion for financial literacy. She uses her writing talents to explore topics that help her readers gain financial stability and growth.

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