If you live in Scottsdale and need cash to pay for everyday expenses, you may want to consider a title loan online. Compared to personal loans and unsecured loans, you can borrow more significant amounts and there's far less dependency on your credit score. These loans use your vehicle title as collateral, and you can borrow a percentage of your car's equity. Title loans are easy to qualify for as the main requirement is often based solely on your vehicle, and most people can get approved within a few hours or less.
Title loans are offered for $2,000 and up with most vehicles. Repayment terms will vary, but most title loans can be repaid at your own pace, often within six months to 2 years. Some lenders in Scottsdale will allow longer payoff amounts that can reach 3 to 4 years, but remember the longer you stretch out the payments, the more you will pay out in interest.
Title Lending Requirements in Scottsdale, AZ
Anyone in Scottsdale can use a lien free vehicle to qualify for a title loan. You need a paid off pink slip to use as collateral, and most lenders will need you to sign over the title before you get the cash. Other requirements include verification that you can afford the required monthly payments. This can be through pay stubs from your employer or bank statements. You also need vehicle registration documents from the Arizona MVD and proof that your car or truck has valid insurance coverage.
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 a loan 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 versus an unsecured loan. Finance companies want to know about the vehicle's equity and will primarily look beyond your poor credit history.
Applying Online or In Person?
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 that's licensed in AZ and willing to offer same day cash title loans of $3,000 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 $25,000, 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.
Regarding interest rates, 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.
How To Apply Now For Online Title Loans In Scottsdale, AZ
Are you ready to see how much cash you can get for your car? Here at Desert Title Loans, we help borrowers in Scottsdale who apply for title loans online. Apply online or give us a call and we'll let you know what type of financing terms to expect for an online car title loan!