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age requirements for title loans

How Old Do You Have To Be To Get A Title Loan? Tips For Young Lenders

If you need quick cash, you might be considering title loans as an option. If you are young, it’s important that you meet the minimum age of requirement in order to apply for a title loan in Arizona. To learn how old you need to be to take a loan against vehicle title from Southwest Title Loans, here are some tips to keep in mind for the young lenders.

Age Requirements For A Loan Against Vehicle Title

According to the state of Arizona, you must be at least 18 years of age in order to apply for our quick cash title loans. If you are not at least 18 years old and have a driver’s license or state-issued ID to prove it, you cannot qualify for a title loan from Southwest Title Loans.

Tips For Taking A Loan Against Vehicle Title

If you are a young individual, it’s important that you understand what you are getting yourself into before applying for a title loan with us. Even if you are 18 or older, that does not necessarily mean that a title loan is the best option for you. Here are some tips for taking a loan against vehicle title from Southwest Title Loans.

Only Get A Title Loan If You Need It

The most important tip to keep in mind when considering a title loan is to only apply for this loan type if you need it. A title loan is not an option if you just want extra spending money. On the contrary, title loans are an option if you are in an extreme emergency and are unable to pay necessary bills, such as medical bills.

So, you cannot apply for title loans if you just want some extra spending cash for frivolous items. Even if you are tight on money, title loans are not a good way of getting that extra cash you need unless you are in an emergency situation.

Title Loans Are An Option If You Have No Credit

The thing about taking a loan against vehicle title is that they are an option if you have bad or no credit. If you are young, you more than likely fall into one of these two categories. As a result, it may be next to impossible for you to get a loan, no matter the emergency. With a title loan, your credit score isn’t much of a factor here at Southwest Title Loans.

Make Sure You Qualify

The last thing you want to do whenever you are looking for title loans is to waste your time. Just like any other loan type, title loans have specific requirements that must be met in order to be considered. To take a loan against vehicle title, you need three things: a driver’s license or state-issued ID, a lien-free title to your vehicle, and your vehicle for inspection.

Of these three requirements, the lien-free title is often the one that catches people up. A lien-free title is one that has no outstanding liens or judgments against it. If you are currently paying off the vehicle, the title will not count. More so, the title needs to be in your name specifically. If your title is in your parent’s name, you can’t apply for a title loan.

Also, if the title is not lien-free or not in your name, that issue needs to be fixed first. Titles with liens against it need to be paid off in full. If the title is not in your name, you can go to the DMV to get it transferred to your name. Before going to apply for a title loan, make sure that you meet these requirements. This will help save some time and effort.

 

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How To Apply For A Loan Against Vehicle Title

If you are 18 and find yourself in an emergency situation, you can apply for title loans at Southwest Title Loans as long as you have the three requirements mentioned above. If you do, the next step is to apply for the title loans you need.

Remember, you can either complete the process at the nearest auto title loan location in Arizona or have one of our loan representatives come meet you. Here are the steps for getting the title loan money you need from Southwest Title Loans:

  1. Fill out our online form and wait for a representative to call you.
  2. Set up a meeting to have your vehicle inspected and your information assessed.
  3. Bring your required documents and wait to find out if you’ve been approved.
  4. If approved, go over the title loan terms and sign the loan agreement.
  5. Once done, get the money you need the same day or the next business day.

Get Your Title Loan Today

If you want to take a loan against vehicle title, you must be at least 18 years old in Arizona. From there, it’s important that you think hard about whether or not you actually need a title loan and ensure you meet the requirements. If a title loan from Southwest Title Loans still sounds like an option, fill out our online inquiry form 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.

Daniel Dewitt

Daniel Dewitt is a lifetime blogger with a finely-honed ability to break down, analyze, and interpret economic trends for the layman. He's fiercely invested in spreading financial literacy and helping everyday people gain the tools they need for their own economic success.

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