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What Are Your Title Loans Requirements?

August 5, 2021 | June Mckaig

title loans requirements

 

Applying for bank loans can be tedious and time-consuming. Not only do these often require a high credit score, but you also have to submit a ton of documents to prove your capacity to pay.

At Southwest Title Loans, however, we’ve simplified the process and title loans requirements and shortened the application process to less than 30 minutes. We make sure you understand what is required of you when you come in.

Questions and Answers About Our Title Loans Requirements

How Do I Qualify For Title Loans?

Qualifying for a title loan in Arizona is not complicated to understand. Of course, you will need your vehicle and your vehicle’s lien-free title – because that is what we are using as collateral. You will also need to make sure your vehicle is in your name. If your name does happen to appear with another name, you will still be able to use it as collateral.

Keep in mind that if the word “and” appears between the names, you will have to have the other person also sign off on the title loan with you. If the word “or” appears between the names, only one of you has to sign off. You must also make sure you are at least 18 years old to apply.

What Type Of Vehicle Can Be Used For Title Loans?

When it comes to title loans requirements, you can use a car, truck, or van for a title loan. However, the most important requirement is that you’re its registered owner. If not, you have to have the title transferred to you.

The vehicle also has to be fully paid and be lien-free. That means that it has no existing loans or judgments against it.

To put it another way, a vehicle’s title cannot be used as collateral for two loans at the same time. You have to complete the payments for the loan — and lift any lien placed on it — before it can be used to secure a title loan.

Is Credit Score A Big Title Loans Requirements?

We here at Southwest Title Loans work with all types of credit history. So whether you have great credit or terrible credit, you are welcome to come in and talk to us. So, don’t let a low credit score deter you from applying for a loan.

If you are unable to get a bank loan because your credit history doesn’t meet their requirements, you will still be eligible for a car title loan here.

Do I Need To Have A Regular Job To Qualify?

Even if you’re unemployed, a freelancer, running a home business or working several part-time jobs, you can still get a car title loan. Just keep in mind you do have to show proof of income. So even if your paycheck is unsteady, have that proof ready.

 

car title loans AZ

 

What Documents Do I Need To Prepare?

Most banks will ask for proof of income, proof of employment, income tax returns, and so on. You’ll spend days just gathering documents — and you’re still not sure if you’re going to get approved.

If you need to raise cash quickly, such as a medical emergency or an urgent car repair, you will be frustrated by the red tape. Now with title loan requirements, you just need to show your vehicle registration, a government-issued ID, and then a vehicle inspection. Then you will find out in a few minutes if you were approved or not.

What Do I Do After I Meet The Qualifications?

Southwest Title Loans has a quick and convenient process for anyone to go through. We make sure you not only get your answers quickly but that you completely understand the loan terms.

First, go to our website and fill out the form. It’s very short and simple, and we only use that information to contact you. Rest assured that the site is secure and that your information will never be shared with other parties.

One of our loan representatives will get in touch with you. He or she will explain more about the title loans requirements, and answer any questions you may have. Then, you will be given the address of one of the car title loan locations in Arizona.

When you get there, remember to bring these title loans requirements to get through the loan process with the loan representative:

  • Your vehicle lien-free title.
  • A driver’s license or state-issued photo ID.
  • Your vehicle to get inspected.
  • Proof of residency
  • Proof of income

A loan representative will verify your documents, and then conduct a very quick vehicle inspection to determine the amount you could qualify for. They will then decide if you qualify for approval.

If you qualify for the loan, the final step is to process it. This is very fast, and you don’t even have to do a lot of paperwork because a lot of the tedious forms that would have taken forever to fill out were done through the online application. The only additional information that you need to fill out is your complete, address, name, desired loan amount, car details.

Everything — from the vehicle inspection to finding out if you’ve been approved and then the processing of the loan — can take less than 30 minutes to fully complete. And if you are approved, you could get the money you qualify for possibly on the same day.

Get Your Car Title Loan Today

When you have an emergency, get a car title loan to help you out. We have simple title loans requirements that anyone can remember and fully understand. If you think a title loan will help, fill out the online form to get started.

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