Title Loans & Registration Loans Chandler, AZ

Everyone should have a little money set aside for a rainy day when circumstances don’t go your way, and you end up having to spend extra money.

Sometimes it rains several days in a row.

Is there enough money put aside to cover all of those unfortunate circumstances? Probably not. What if the rainy day or days becomes a rainy season because of job loss?

Imagine what it would be like if your company decided to make cutbacks to save money, and your department got hit hard. Now, you are laid off and looking for work.

Thankfully, there is unemployment, and those unemployment payments do help, just not as much as your paycheck.

For the first few weeks without a job, money was tight. Now, it’s stretched so thin you worry that the lights or water are going to get cut off.

Your fears could become reality without more money, but where can get you get cash quickly? What you need is a helping hand.

You’re not looking for much, just some sort of short-term financial rescue until you get another job and get back on your feet. Title loans in Chandler could offer just the help you need.

Registration Title Loans in and Near Chandler, AZ

Title loans in Arizona are simple. Just apply, let the lender hold your car title, and you get a personal loan. Using a vehicle as collateral secures the title loan, which means credit checks are unnecessary since they have no bearing on approvals or denials.

Title loans in Chandler are available to anyone who is at least 18, has a source of income and owns a vehicle with no liens and no payments left to make. Sometimes insurance is required because the state mandates it or because the lender does.

While that may sound like bad news to applicants without insurance or without enough auto insurance, there are still options for them to get title loans in Chandler, AZ.

An easy way to qualify for the loan is to simply get insurance or up the current policy to full coverage, but that costs money, and title loan applicants apply for registration loans because they need money.

One option for them is to use the lender. In some cases, a title lender will offer insurance to its customers. If that is not an option, the customer can purchase online auto insurance and let the lender approve the loan based on the insurance computer printout.

A final option is to swap the vehicles used for collateral from one requiring insurance, such as a car, to one that does not require insurance, such as a boat or ATV.

Chandler, AZ Title Loan Application

Online applications for title loans in Phoenix and Chandler only take a few minutes to complete. Applicants provide their name, email, zip code and phone number.

They also supply the year, make, model, style and mileage of the vehicle they want to use as loan collateral.

This type of basic information helps determine a general value range for the vehicle, which is used to provide a loan estimate.

Loan Estimates

How much money you get depends on the value of your vehicle, but there is a way to get an idea of what you could be offered.

Using the Velocity Cash title loan calculator, you can figure out how much money you can borrow, what the interest is and how much your payments will be.

Our team uses information from the title loan interest rate calculator to aid us in developing a registration loan offer, which we send to you after your application is complete.

You may get multiple offers and have to decide which one to choose.

Finalizing the Loan

After getting the estimate, applicants talk to a Velocity Cash expert by phone to work out specifics of the loan. Specifics include loan terms and a repayment plan with payment amounts that are within the applicant’s ability to pay.

Also discussed is the source of income, which can come from a job, social security, alimony, a pension or benefits from unemployment or disability.

The next step is to bring the vehicle into our store so that a Velocity Cash agent can do a quick inspection. This is to check the car’s condition and make sure it qualifies for the amount of money offered in the loan.

If there is damage to the car, the loan estimate may need to be lowered because damages affect a vehicle’s value.

The opposite is also true, meaning that if an owner has added upgrades to their vehicle, its value is higher, and the loan estimate could go up.

After the inspection, loan documents are signed, the applicant’s car title is turned over, and they get their cash.

Arizona Legal Information

• In Arizona, title loan businesses are known as secondary motor finance companies. They are licensed and regulated by the Arizona Department of Financial Institutions under the Motor Vehicle Time Sales Disclosure Act.
• Lenders are not limited in the amount of money they loan, but there are specific guidelines regarding interest charges. Registration loans under $500 may not be assessed interest of more than 17 percent per month. Maximum interest if 15 percent a month for loans between $501 and $2,500, and 13 percent per month for title loans between $2,501 and $5,000. Any loan over $5,000 has an interest rate cap at 10 percent.
• Arizona is one of the only states that allows consumers to take out a title loan without having a lien-free title. Loans are made against the vehicle registration when the lender is added as a lien-holder.
• Lenders can charge a late fee equivalent to five percent of a loan’s unpaid balance if the payment over 10 days past due.
• If a vehicle has been repossessed, the lender has the legal right to sell the vehicle to recover unpaid loan debt and interest. The lender can also keep part of the proceeds to cover its costs related to repossessing and selling the vehicle. Any money left over after that goes to the borrower.

Benefits

• Just one day is usually how long it takes to get cash from title loans in Chandler, AZ. That includes the time to complete an application, discuss loan options by phone with a lender representative, have an on-site auto inspection and sign loan documents. If you do this at a bank, the process takes much longer, sometimes weeks, and you may not be approved for the loan.
• No credit check means no worries. Whether your credit is good, bad or in between, it has no impact on a title loan, which is based solely on the vehicle collateral used. This is one reason title lenders have such high approval rates, and one reason so many people find title loans to be a better option than bank loans.
• The average title loan rate calculated on car title loans is often higher than the rate on bank loans, but it is lower than the rate of payday and other types of short-term loans.
• It’s easier to get a title loan against a car than to deal with borrowing from someone you know. They may not lend it to you or may nag you about repaying the money sooner than you planned. With title loans, your payment schedule it set before you even sign the registration loan documents.

It is also easy to get an installment loan online from us. Just apply online.