Get An Online Title Loan In Scottsdale
You may want to consider a title loan if you live in Scottsdale and need cash to pay everyday expenses. Compared to personal loans and unsecured loans, you can borrow a lot more, and there's far less scrutiny on your credit score when underwriting your application. Title loans use a paid off vehicle as security, and you can borrow a percentage of your car's equity that sometimes approaches 70%!
One of the best parts about a title loan is that it's much easier to qualify than an unsecured loan. The main requirement with a title pawn is often having a paid-off vehicle, and most people can get approved within a few hours or less.
Title loans are offered for $1,000 and up on most vehicles in Arizona, and some customers can borrow up to $20,000 using a newer high-value car or truck as collateral. Repayment terms will vary, but they can be repaid at your own pace, often within six months to 3 years. Some lenders in Scottsdale offer payoff amounts that can reach 4 years but remember, the longer you stretch out the payments, the more you will pay out in interest. Keep driving your car or truck while you make the payments, and don't worry that the lending terms will change. The car's title is the collateral, not your actual vehicle!
Are you looking to borrow $1,000 or less and not use your vehicle as collateral? Arizona is one of the only states that allows registration loans, and unlike a title loan, you don't have to sign over your pink slip as security. Registration loans use your MVD registration info as collateral, and these loans are now available for anyone in Scottsdale with a vehicle registered in their name.
Title Lending Requirements in Scottsdale, AZ
A paid-off vehicle: You must own a vehicle with a clean and clear title. The car has to be owned outright, with no outstanding liens or cosigners.
Verification of residency: We need proof stating that you live in Arizona. This can be a driver's license, passport, or any document such as a lease agreement or mortgage agreement. Do you need to update your driver's license or get updated documents from the MVD? The primary MVD location in Scottsdale is at 7339 E Paradise Lane. You can often get a replacement driver's license or ID within an hour or less.
Proof of income: We need to know that you can repay the loan. Send us proof of income through bank statements, social security documentation, or employment records.
Vehicle inspection: Your lender will likely want to inspect the vehicle. The inspection can occur anywhere in Scottsdale, and some companies offer remote inspections throughout Arizona. Your car's title secures the loan, and the vehicle's condition, as determined during the inspection, will determine the loan amount and repayment term.
Bad Credit Car Title Loans In Scottsdale
These title loans are so prevalent in Arizona because they're designed for people with poor credit. Anyone with terrible credit because of missed payments or loan defaults can qualify for a bad credit title loan with just the equity in the vehicle. You can get approved with a credit score of 600 or less; most companies won't even check your FICO score!
No matter how you compare things, getting cash with a secured loan is much easier if you have bad credit than if you were applying for an unsecured personal loan. We often talk to customers who've recently defaulted on a bank loan or missed credit card payments, and these issues aren't much of a concern when applying for a title loan in Scottsdale! Instead, finance companies want to know about the vehicle's equity and will primarily look beyond your poor credit history.
How To Apply For A Scottsdale Title Loan?
There's more than one way to apply for a Scottsdale title loan. You can start with Desert Title Loans by filling out our online application. This makes it easy to get a quote in less than 15 minutes, and we'll let you know how long it will take to repay your loan amount. Others will choose to apply for a loan from a direct lender in Scottsdale, meaning they need to find a local company in Maricopa County. Whichever way you apply, you should take your time and find a top lender licensed in AZ willing to offer same-day cash title loans of $1,000 or more!
Rates And Payment Amounts For Scottsdale Title Loans
Loan amounts with an equity title loan in Scottsdale can range between $1,000 and $20,000, and of course, your vehicle's resale value is the primary way we determine how much you can borrow. The average title loan amount is $2,500, and for registration loans, it's around $400. Some companies in Scottsdale will go down to $100 for a registration loan, but at that amount it doesn't make much sense for a customer to tie up their registration documents.
Regarding interest rates, auto title loans typically have higher APRs than traditional loans from installment lenders and banks. However, because title loans use a vehicle as collateral, a lender may view the loan as less risky than an unsecured personal loan, and the interest rate may be slightly lower. Either way, the rates on car title loans are often higher than 100% in Scottsdale, and you need to be diligent in making extra monthly payments to pay off the loan early.
Apply Now For A Title Loan In Scottsdale, AZ
Are you ready to see how much cash you can get for your car? Is your vehicle in decent condition and worth $3,000 or more? Assuming you meet those requirements, you can qualify for a loan based on your vehicle's equity! Here at Desert Title Loans, we help borrowers in Scottsdale who apply for registration loans and title loans. Anyone can get a quote in less than 15 minutes that shows your monthly payment and repayment terms. Apply online or call us at 623-526-5001, and we'll let you know what financing terms to expect for a car title loan!
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