Get A Car Title Loan In Gilbert
Are you struggling to make ends meet or dealing with an urgent financial need? Yes, you can borrow cash with a payday loan or line of credit, but these unsecured loans are challenging to get if you have poor credit. One type of loan to consider in AZ is a title loan, and Desert Title Loans offers fast approval for those who apply online! Anyone in Gilbert who owns a lien free vehicle can qualify for a car title loan of up to $15,000.
These short term loans are secured by your vehicle's equity and you can be approved with little to no credit score. Borrow anywhere from $1,000 to $15,000 in Gilbert and pay off the balance over 6 -42 months. Yes, the interest rates are high, and you can lose the vehicle to a repossession if you default on the loan. But if you have nowhere else to turn, a title loan can be an effective way to get fast cash with just the equity in your vehicle and proof of income.
You may wonder if your paid off car will qualify for a title loan in Gilbert and that's a fair question if it's an older model with over 150,000 miles. But for those with newer vehicles, you stand a decent chance of being approved as long as the car is in good shape and titled in your name. We provide access to title loans on Ford, Toyota, and all other vehicles registered and insured in Arizona. We even offer fast approval with the highest loan amounts on EVs! Most Teslas are valued at $40,000 or more, meaning you can borrow a considerable amount with a no-hassle title loan that doesn't require a credit check.
Many people who turn to an auto title loan are surprised to learn how easy it is to get approved with Desert Title Loans. Start your application online or call us at 623-526-5001, and we will get you a lending estimate in less than 30 minutes. You'll then set a time for a brief vehicle inspection and sign the loan paperwork, and after that, you can pick up the funds in person anywhere in Gilbert or have the money sent to a checking account with direct deposit. The entire approval process takes less than 24 hours when you apply with us online!
Lending Options With Desert Title Loans In Gilbert
- Car Title Loans:
- Use your car's equity as collateral
- Loan amount is often 40% to 65% of the car's resale value
- You can keep driving the vehicle while making the payments
- Registration Loans:
- The vehicle registration (not the car's title) is used as collateral.
- Loan amounts are less than a title loan, often $200 to $1,200.
- You can get funded in less than an hour with a lender in Gilbert
- Title Loan Buyouts:
- Desert Title Loans works with licensed companies who want to buy out your existing title loan.
- Your existing loan is paid off, and your new lender will offer you a new APR and payment terms.
- Some title loan buyouts have lower rates than the original loan.
- Avoid a repossession with a loan buyout.
- Title Loan Refinances:
- Refinance your existing title loan with a new interest rate and repayment amount.
- Get better terms on your AZ title loan with a lower monthly payment and faster payoff.
- Restructure an existing loan to prevent a default and stay current on the payments.
- Desert Title Loans can provide a quote for a title loan refinance in Gilbert in less than an hour.
Title Loans In Gilbert With Bad Credit
If you have bad credit, don't rule out the possibility of getting a car title loan or semi truck title loan near me in Gilbert, AZ. At Desert Title Loans, we even offer fast approval for title loans on motorcycles. Most newer motorcycles can qualify for a loan of $1,000 or more as long as they're titled in your name, have full insurance coverage, and have up-to-date registration.
It may be surprising, but these secured loans don't require a good credit score or a recent credit history. Instead of underwriting the loan based on your FICO score, a title loan company is more interested in the equity in your vehicle. It's much more important to them that your car is worth something than having a good credit card payment history and other loans. Yes, they likely still check your credit, and you may not get approved if you've defaulted on multiple loans over the past few years. However, typical credit issues aren't something that will cause you to get denied a title loan, and you can qualify for up to $15,000 regardless of your FICO score. Some customers with classic vehicles and cars valued at $50,000 or more can even be approved for a bad credit title loan in Gilbert that approaches $30,000! So don't deal with the stress of applying with a conventional lender only to fail their credit check. Apply online with Desert Title Loans or call 623-526-5001 to get a title loan that doesn't require good credit!
APR & Monthly Payments For A Title Loan In Gilbert
Interest rates for a title loan in Gilbert are similar to those offered in other parts of Arizona. The APR for title loans over $500 starts at 40%, and some companies have rates approaching 100%. Upcoming lending laws in Arizona may institute a cap for these rates, but as of 2024, title loan companies are free to charge the market rate for interest rates and other fees. Because of these high interest rates for both title loans and registration loans, you compare quotes from at least three lenders in Gilbert and go with a company that offers the best terms and repayment options.
The monthly payment for a title loan in Gilbert depends on your income and the final loan amount. You can pay as little or as much as you please, but you still must repay the loan per the contract you signed. Monthly payments for title loans range from $100 to $1,000, and you can often pay more than the minimum required each month to pay down the balance quicker.
Regarding your loan payoff terms, it's important to understand that the quicker you pay off your loan, the faster you'll get the pink slip back. Some lenders in Arizona offer repayment terms of 36 months or more, but these lengthy payoffs are not advised as most of your payment will go towards interest charges. Repay your title loan as quickly as possible and stick with a lender offering 12 to 36 months repayment terms.
Apply With Desert Title Loans
Apply with Desert Title Loans online or call 623-526-5001 to see how much your vehicle is worth and the different loan options available in Gilbert. We offer pre-approval in 30 minutes when you submit your vehicle information and contact details online. If the vehicle is valued at $5,000 or more, you can qualify for a title loan of $2,000 or more in Arizona! We'll work to get your application processed and underwritten in just a few hours, aiming to match you with one of several licensed title loan companies in Gilbert!
