Registration Loans & Car Title Loans Glendale, AZ
What causes people to run out of money? They spend too much, or they have unexpected expenses, maybe.
There are numerous reasons people end up without enough cash to meet their needs, and there are several ways to get money to make up that shortfall.
Usually, people turn to someone they know in times of crisis, such as friends or loved ones. Sometimes, if they need a larger amount of money, they go to the bank for a loan.
The problem with these other funding sources is that they come with more hassle, more stress and a lot less certainty.
For example, when you borrow money from someone you know, it’s embarrassing to have to ask for a loan, and they might not give it to you. If they do, there is the awkwardness between you until the debt is paid.
With bank loans, they ask for a lot of information and documentation, but they rarely give loans to people with bad credit. One way to get money, no matter what your credit score, is a registration title loan. Everyone is welcome, and just about everyone is approved.
Title loans in Glendale are personal loans that are secured with vehicle collateral. Applicants use a vehicle they own as security, which lessens the risk for the lender.
Glendale, AZ Title Loans Online
It also eliminates the need to check the credit history or score of applicants. Without a credit check, people without good credit have an easier time being approved.
In fact, the title loan industry has a very high approval rate among people with all types of credit. Title loans are also favored by people who want to get cash fast, usually in a day or less, and avoid the hassle of a bank loan.
Banks tend to require excessive paperwork and a credit check, and it could take weeks to find out if you’ve been approved or denied.
- Have a government-issued ID card or driver’s license
- Be at least 18
- Be listed on the vehicle registration as the owner
- Not owe money on the vehicle
- Not have liens against the vehicle
- Vehicle must work and be in good condition
- Applicant must show proof of automobile insurance
Title Loans Glendale Application Process
Applying online is so quick and convenient that it makes the process of getting title loans in Arizona even easier. Just input your name and contact information, as well as the make, model, style, year and mileage of your vehicle.
If you want, use the handy Velocity Cash car title loan calculator to see how much you could borrow. The car title loan payment calculator also gives you an indication of what your payments will look like.
After you’ve finished the application, you get a loan quote, and a Velocity Cash agent calls you to discuss your options. Together, you will discuss the registration loan offer, set up a payment plan and talk about your source of income.
While most people use a job as their source of income, the unemployed can also get title loans in Glendale, AZ.
That’s doable because the source of income required for a loan could come from unemployment benefits, alimony, social security, disability or a pension.
Get a Loan Quick
The final steps in getting title loans in Glendale, AZ require a trip to a loan office so that a representative can inspect your vehicle. Just using the make, model and other vehicle specs is not enough for a final loan offer.
The car must be in good condition. Also, if there is any damage to the vehicle, it could lower its value and result in a lower loan offer.
On the other hand, cars kept in great condition and those that have upgrades, such as a sunroof or sound system, could get a much higher loan quote.
Once the inspection is complete and a final registration loan offer is made, the applicant signs loan documents and turns over the vehicle’s title to a loan agent. All that left after that is take your money.
Arizona Legal Information
- Borrowers who are late on payments have the opportunity to work with their lender to defer or extend payments or to renew their title loan so they can bring the account current.
- Lenders must give borrowers information about the annual or monthly interest charges they will pay, and the information must be in an easy-to-understand format. Borrowers can also request a written statement outlining their loan payment amounts and due dates.
- If a borrower’s vehicle is sold to satisfy their delinquent debt, the borrower gets any surplus funds left over after the lender recoups the loan debt and any costs associated with repossessing and selling the vehicle.
- Title lenders must be licensed by the state.
- There is no loan limit in Arizona.
- Monthly interest rates are set by the amount of money loaned. Up to $500, the maximum interest rate charges allowed are 17 percent. It drops to 15 percent for loans between $501 and $2,500, and 13 percent for loans between $2,501 and $5,000. All title loans over $5,000 are capped at 10 percent interest.
- Lenders are allowed to charge borrowers up to five percent of their unpaid loan balance if the borrower is more than 10 days late with payments.
- Any adult with a car automatically meets the requirements to apply for title loans in Phoenix and Glendale. Most states and most lenders require borrowers to have paid off the vehicle they plan to use as collateral and that there not be any liens against it, but there are a few places that work with borrowers whose vehicle does have liens.
- Title loans against a car are great for everyone who needs money fast, but they are perfect for people with poor or bad credit. Applicants are approved based on the value of the car they use as security, so there is no need for a credit check.
- Title loans have a very high approval rate and an extremely very low rate of rejection.
- Applicants need a source of income, but they don’t need to have a job. The source of income can be from retirement benefits or a pension, social security, alimony, unemployment benefits or even disability benefits.
- Title loans are not embarrassing. The same can’t be said with some other types of funding. For example, it can be really hard to ask a family member or a friend to bail you out of a tough spot. They may ask probing questions about why you ran out of money, and you probably don’t want to answer. There’s no guarantee that person has money to lend you or that they are willing to lend. If you go to a bank for a loan, the process is long and complicated, and it includes a credit check. Just try getting approved at the bank with a low FICO score. That rejection is embarrassing and discouraging because you have to restart your quest to get the money you need.
- Glendale, AZ loan terms are short, but borrowers who need more payback time can usually work out something with the lender to renew or restructure their loan.
- While repaying the registration loan, you get to keep your car. The lender only needs to keep your title.
- Your information is always kept confidential.
You can also apply for installment loans online today.