Get A Car Title Loan In Yuma AZ
Have you reached a point where you can't get a loan from a traditional lender because of poor credit? Or maybe you need a higher loan amount than what's offered by most personal loan companies in Yuma. Why not consider a title loan that uses the equity in your vehicle as security for a loan? Title loans are repaid over 12 to 36 months and many newer cars with fewer than 100,000 miles will qualify. You don't need excellent credit, and most applicants can get approved in a few hours if they apply online with Desert Title Loans! As of 2024, you can cash out 50% or more of the equity from your car, motorcycle, or SUV and use that as collateral for a loan of up to $20,000!
Some applicants apply for a title loan online with us but don't know what's required and how much cash they can get for their vehicle. Others are interested in cashing out equity from their car but want the best rate and payment term possible. Therefore, we will break down the basics so that anyone applying for a car title loan in Yuma knows what to expect and how quickly they can get their cash.
What Are The Requirements In Yuma To Get A Title Loan?
When you apply with Desert Title Loans, we require your car title, recent pay stubs, and vehicle registration information. Sometimes, we may ask for proof of vehicle insurance and check your credit to look for current bankruptcies or loan defaults. Your credit isn't much of a concern when you apply for a title loan in Arizona, but we still need to confirm your lending profile and verify your identity. Lenders also want to see proof of vehicle insurance and proof the car exists through pictures or videos, and ultimately, they'll need you to add them as lienholders to the car's title. They don't require you to hand over the car as collateral for a title loan. Instead, the vehicle's pink slip is held as security for the loan, and you get it back when the loan is fully repaid and the car's title is signed back over to you.
After underwriting the loan, we'll schedule a brief vehicle inspection for you with a local lender in Yuma. This inspection takes less than 20 minutes and entails a quick checkup of the interior and exterior of the vehicle. The inspection agent will confirm the current mileage, record the VIN and then write up the contract. You'll then sign the loan documents and schedule a time to get the loan proceeds either through direct deposit to your checking or savings account or with a money order you can pick up at any location in Yuma.
How Are Title Loans Different From Other Unsecured Loans
Car title loans differ from those offered through traditional lenders because we won't ask for a conventional credit check. When you apply for an unsecured loan, it can take weeks to underwrite the application, and you're subject to various credit checks to look for past issues where you may have defaulted on a credit card or personal loan. Title loans, on the other hand, can be approved in less than a day, and most companies in Yuma won't worry about your credit history. Unlike a traditional unsecured loan, we're not worried if you missed payments over the past few months or years because we know there's equity in your vehicle. Anyone with a car valued at $4,000 or more has significant collateral, and that's of more interest to a title loan company in Yuma than your credit score.
Registration loans differ from title loans as you don't need a lien free car title to qualify. The car's registration docs are the security for the loan amount. Registration loans in Yuma are easier to qualify for as the requirements do not include a paid off vehicle. One drawback, however, is that the loan amounts are smaller, with funding amounts of around $600. Another difference between registration loans and title loans is that you don't risk having your vehicle repossessed with a registration loan should you miss any payments. The worst that can happen with a registration loan is that your lender sends it to a collection agency, which may take you to court. Compare that to a title loan company that can repossess your car just weeks after you fall behind, and you'll see the difference!
Take advantage of the title loan deals in Arizona with Desert Title Loans! Get cash fast to save yourself from financial trouble and don't worry that you'll get rejected because of a bad credit score. Whether you're struggling to pay medical bills, make ends meet monthly, or need money for another reason, take out a title loan from a registered lender in Yuma.
Bad Credit Title Loans in Yuma Arizona
If you wonder whether a bad credit title loan is right for you, but you have poor credit, then your worry ends here. Desert Title Loans offers access to secured loans for anyone, even people with bad credit.
Our lenders don't look down on someone with a low FICO score, as their most important qualification is a paid-off vehicle. Apply with us, and there's a good chance we won't check your credit. You definitely won't be denied a loan if you have equity in your vehicle but also a poor credit score. You should be approved if you can show proof of collateral from your car or truck!
How Fast Can I Get Cash From A Licensed Yuma Title Loan Company
Once approved, you can get cash for your car's title in less than an hour when you start an application with Desert Title Loans. Licensed title loan companies will send you the funds directly after the loan is approved and some companies offer in person cash pick up at locations along Interstate 8 in Yuma. Assuming you're an Arizona resident, you can also have the money sent by money order or cashier's check, and some title loan companies offer same-day ACH and bank wires if you qualify. The quicker you can send in your documents and sign over the car's title, the quicker you can get your funds.
Apply online with Desert Title Loans or call 623-526-5001 to get started! Same day pre approval is possible for anyone with a 2015 or newer vehicle, and title loans range from $1,000 to $20,000 in Yuma. Even with an older car, you can still qualify for a registration loan of $400 or more, so submit your vehicle information and contact details to get started today!
