Same Day Car Title Loans In Phoenix
Whether you have bad credit or not, you can get quick hassle free financing in Phoenix with Desert Title Loans. All that matters is that you have sufficient equity in a vehicle to qualify for same day cash. You won’t have to go to a financing office in Phoenix or be seen by a local loan officer. Instead, you can get everything done online or call us at 623-526-5001 to apply over the phone.
Local lenders specialize in offering their services to titleholders, allowing you to apply for and get approved without the inconvenience of going to a loan broker's office or the risk of personally attending a lender's office. That opens the door for you to get the cash you need and avoid the long lines with an online company versus a lender near you. Besides all that, you can get approved with little to no credit history. Even if you recently defaulted on a loan, you should have no trouble getting approved for a title loan in Phoenix.
How does a Phoenix title loan work, and what to expect
Title loans use the equity from a paid off vehicle as collateral for a secured loan. Your lender will hold the car's pink slip for the duration of the loan. You can keep driving the vehicle while you make the required payments, and there's no need to give up the keys or have a tracking device installed on your vehicle.
The first step in getting a title loan is applying, and you can start online, over the phone, or with a direct lender in Phoenix. You can borrow 50% of the vehicle's assessed value, meaning a car worth $4,000 can lead to a funding amount of $2,000 or more.
It takes less than 30 minutes to apply for a title loan online with Desert Title Loans, and everything other than the vehicle inspection can be completed online! Unless you take the time to shop, you may end up with a few different quotes and repayment options. The other option is a registration loan. In this case, you use your vehicle registration as collateral instead of the pink slip or car title. Loan amounts with a registration loan are often less than $1,000, but you won't have to put up your car's title as collateral.
What is required to be approved for car title loans in Phoenix, AZ
This type of loan requires that you own the vehicle you want to use as collateral, and the car should be valued at $4,000 or more. Other factors to consider are payment options, interest rates, co-signing responsibilities, restrictions, penalties, and repayment terms. Going the traditional route has advantages, like only having to deal with one lender once your application is approved. It typically takes less time to get the money, sometimes as quickly as 24 to 48 hours if you live in the Greater Phoenix vicinity. It's just as easy to find a lender in other parts of Maricopa County, and if you're farther South in Arizona, you should check out our page that covers Tucson car title loans.
What else to know about online title loans in Phoenix, AZ
If you want to own the vehicle you will be driving, you may not want to go with a quick payoff option. This option usually has lower payments and interest rates and frees you from the depreciation risks associated with a longer loan term. Although it’s not always the best choice when your budget is limited, it may be cheaper than a traditional payoff. The funding will likely be higher if you want cash for a newer vehicle.
Another factor that arises when borrowers first look into a title loan in PHX is where to apply. Many people will start with an online application form on a site like Desert Title Loans, where you can submit all your information and then complete the document check in person with a local company. A slight majority of people would instead work with a direct lender that allows them to submit information in person.
Are you ready to see how much money you can borrow? Apply online or call 623-526-5001, and we'll get you an instant quote that details how much you can borrow with a title loan in Phoenix!