If an unexpected expense comes up and you own your vehicle outright, you may be wondering, “Can I get a loan against my car?”
A title loan allows qualified Arizona borrowers to use the value of a paid-off vehicle as collateral for a loan. With Southwest Title Loans, you may qualify for up to $15,000* depending on your vehicle's value and approval of your complete application.
You can start the process online, speak with a loan representative, and then visit a nearby Arizona location to complete the required vehicle inspection and final paperwork.
If you're considering taking a loan out against your car, this guide walks you through the process, explains what you'll need, and covers what to review before deciding whether a title loan fits your situation.
Key Takeaways
- A title loan lets you use a paid-off vehicle as collateral.
- You need a state-issued photo ID, a lien-free vehicle title in your name, and the vehicle for inspection.
- Qualified borrowers may receive up to $15,000*, depending on vehicle value and approval.
- You can start the title-loan process online and finish it at a Southwest Title Loans location in Arizona.
- Some applicants may complete the in-person approval process in less than 30 minutes.
- All credit types are welcome to apply, but approval isn't guaranteed.
- You can continue driving your vehicle while repaying the loan.
What Does It Mean to Take a Loan Out Against Your Car?
Taking a loan against your car means using the vehicle's title as collateral for a secured loan.
To do this, you generally need to own the vehicle outright. That means you've finished making payments and have a lien-free title in your name.
The vehicle is then inspected to help determine its value. If you're approved, that evaluation helps establish the amount you may qualify to borrow.
Unlike selling your vehicle, a title loan allows you to continue using your car while making payments according to your loan agreement.
4 Steps Of Taking A Loan Out Against Your Car
1. Find A Title Loan Lender Near You
The first step in taking a loan out against your car is to find a title loan lender near you. Here at Southwest Title Loans, we make it easy to find a title loan lender in your area. You can simply visit our website to find all of our quick auto title loans. We have locations all over the state of Arizona for you to choose from.
2. Make Sure You Have Everything You Need
After you have found a title loan lender in your area, you need to make sure that you qualify for a title loan. The requirements for a title loan differ from site to site. That is why it is important to find a title loan lender before looking through the requirements you need. This will ensure that you meet the requirements of the lender you are considering.
To apply for a title loan from Southwest Title Loans, you only need three items. You will need a driver’s license or state-issued photo ID, a lien-free title to your vehicle in your name to act as collateral, and the actual vehicle for an inspection. Only if you have these three items will you be able to apply for a title loan at one of our locations.
3. Fill Out A Quick Online Form
If you have everything you need to apply for a title loan from Southwest Title Loans, the next thing you need to do is to fill out our quick online form on our home page. This form makes it easy to get in contact with us and to get through our fast cash auto title loans process.
Don’t worry, our website is backed with superior technology to ensure that your sensitive information is not leaked or hacked by anyone else. After you fill out the online form, a representative from the nearest Southwest Title Loans location will give you a call to set up an appointment so that you can move on to the vehicle inspection.
4. Apply And Get Results In As Little As 30 Minutes!
Finally, the last step for taking a loan out against your car is to apply and find out if you’ve been approved. During the application process, one of our loan representatives will perform a quick inspection of your vehicle.
The purpose of this inspection is to establish the value of your vehicle, which is used to determine how much money you can be loaned. If approved, we will go over the loan terms and have you fill out the paperwork. Then you can get the money you need from Southwest Title Loans either on the same day or the next bank business day!
What If I Don’t Have A Good Credit Score?
If you are debating not applying for a title loan because you do not have a credit score or a good one, don’t worry. Southwest Title Loans welcomes all credit types to apply for our title loans. As a result, you can still apply for one of our title loans, regardless of your credit score.
How Much Can I Get From Southwest Title Loans, Inc.?
At Southwest Title Loans, you can get up to $15,000 with one of our title loans. The exact money you will be loaned is dependent on the value and condition of your vehicle. This is why we need to inspect your vehicle either at the nearest fast auto title loan location or you can have us meet you somewhere else.
Begin Taking A Loan Out Against Your Car Today!
As you can see, taking a loan out against your car title can be accomplished in four simple steps. All you have to do is find a lender near you, make sure you meet the requirements, fill out a quick online form, and apply so that you can find out if you’ve been approved for up to $15,000 in title loans from Southwest Title Loans.
If you’ve already done the first two steps in this process, go ahead and move on to the third by filling out this quick home page inquiry form. This inquiry form will help speed up the process so that you can get the title loan money you need quickly and efficiently. We look forward to chatting with you.
Frequently Asked Questions
Can I get a loan against my car in Arizona?
You may be able to if you own your vehicle outright, have a lien-free title in your name, and meet the lender's other requirements. Southwest Title Loans also requires a state-issued photo ID and the vehicle for inspection.
How does a loan against my car work?
A title loan uses your lien-free vehicle title as collateral. Your vehicle is inspected to determine its value, which helps establish the amount you may qualify to borrow. If approved, you review the loan agreement and can continue driving the vehicle while making payments.
How much can I borrow against my car?
Southwest Title Loans currently offers qualified Arizona borrowers up to $15,000*. Actual amounts depend on vehicle evaluation and approval of the complete application.
What do I need for an Arizona title loan?
You'll need a state-issued photo ID, a lien-free vehicle title in your name, and your vehicle for inspection.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.
