Get Approved For A Car Title Loan In Prescott
Title loans are now available to anyone in Prescott who can verify their income and owns a paid-off vehicle. With a secured title loan, you can borrow up to 60% of your vehicle's value and won't need excellent credit to qualify. Your lender holds your car's title as collateral, and you'll keep your vehicle while paying off the loan over 12 to 48 months.
Applying is easier than ever with Desert Title Loans. We'll provide an estimate detailing the monthly payment and repayment terms for a title loan that fits your budget. Sometimes, you can complete the inspection and sign your contract with a local lender that day. You can get cash in as little as one business day after applying with us. Some companies in Prescott even offer cash in hand just a few hours after approval if you meet with them in person!
Requirements For Online Title Loans In Prescott
To qualify, you must own a vehicle valued at $4,000 or more. You must solely own the car, and you have to bring the vehicle in for a quick inspection. You have a good chance of getting approved with a 2014 or newer vehicle with fewer than 100,000 miles.
Other requirements for a title loan in Prescott include proof of income from your bank or employer and MVD documents showing the vehicle is properly registered and insured. While an in-person inspection isn't always required, you're more likely to be approved for a title loan when you bring your vehicle in so we can verify its current resale value in Arizona.
Online registration loans are also available in Prescott, typically requiring far less than a title loan. You'll need to prove that the vehicle is registered in Arizona, and most companies will ask for proof of employment through bank statements or pay stubs. Registration loans typically fund for $1,000 or less because there's no security backing up the loan if you default on the payments.
You may have noticed one requirement missing from this list: a good credit score! Here at Desert Title Loans, we don't require good credit for a car title loan in Prescott, and some customers can be approved without a standard credit check! Regarding title loans, your FICO score is not as important as the equity in your vehicle, which is the primary qualifying factor used to determine your loan terms.
Loan Amounts And Rates For Prescott Car Title Loans
Funding amounts depend on your vehicle's value, income, and current lending conditions. Online title loans in AZ come with funding amounts of $1,000 or more, and in some situations, you can borrow upwards of $20,000 with a high value vehicle or one with less than 50,000 miles. Cars with a resale value of $8,000 can get you a loan of at least $4,000, assuming you can borrow up to 50% of the equity.
The interest rate on a title loan or registration will be high, and that's common in nearly every situation where you use a vehicle as collateral. Expect an APR of 40% to 140% with a typical car title loan in Prescott.
Repaying A Title Loan In Prescott, Arizona -How Does It Work
Repay your car title loan with a payment you and the lender can agree upon. The payoff term will typically last 12 - 48 months, and some lenders offer early payoff discounts if you can repay your loan beforehand. Regardless of the lending terms you agree to, it's best to work with a title loan company that doesn't charge a pre-payment penalty.
You may wonder what happens if you miss a payment. Well, that's not something you want to do, as a lender can repossess your car if you miss any loan payments. That's why you must contact your lender if you default or fall behind on the monthly payments. While only a few companies in Prescott Valley have local offices, you should negotiate an alternate payoff plan or see if they can refinance the loan with a lower interest rate.
Apply With Desert Title Loans Online For A Car Title Loan In Prescott, Arizona
If you need cash fast, one option is to get a car title loan in Prescott. If you want the convenience of applying online, Desert Title Loans can help when other companies deny your application because of a bad credit score or insufficient collateral. We work with companies throughout Prescott and Sedona and will try to connect you with a top company in your neighborhood.
Apply with Desert Title Loans to borrow $2,000 or more with your vehicle as collateral. Most customers can get approved with just the equity from their car, truck, or motorcycle, and the application process is quick for anyone with a lien free vehicle and income verification. Apply with us today to get a title loan in Prescott!
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