Car Title Registration Loans Page, AZ
It’s frustrating to fall short of cash, but if you’re working hard to make a living and take care of your commitments, there’s no reason to be ashamed.
Nearly everyone has times when things aren’t going so smoothly and they need a little help.
That’s where title loans excel; providing a short term fix for a temporary money deficit.
What are Title Loans in Page, AZ?
Registration title loans in Page, AZ are basically personal loans, but they are not quite like the ones you get at the bank.
Bank loans require lengthy applications and other paperwork, documentation that could include your bank records and tax returns, and the dreaded credit check that could determine approval or rejection.
It could take more than one meeting with a bank official and several weeks to find out if you get the money. For title loans in Page, simply apply and use your car as collateral.
Loans are usually approved in about a day.
Page, AZ Title Loans Requirements and Application
Legally, fast cash title loans applicants need to be at least 18 and have a source of income, which could be from work, disability, alimony or another source.
Most states and lenders require applicants to have a lien-free vehicle, but in Arizona, borrowers can get a title loan with liens if they add the lender as a new lien holder.
Title loan applications ask just a few questions about the type of car being used and its mileage, as well as the name of the applicant and their contact information.
Applicants discuss loan options with a Velocity Cash representative, and then bring in their vehicle for a quick inspection.
After that, the title is turned over the representative, registration loan papers are signed and money is distributed.
Arizona Legal Information
- The Arizona Department of Financial Institutions regulates and licenses title loan businesses.
- Title loan businesses are also known as secondary motor finance companies.
- Borrowers do not need a clear title, but those without on must add the lender to the title as a lien holder.
- Borrowers who are delinquent in their loan payments may reach an agreement with the lender to extend payments, defer them or renew the title loan.
- Borrowers may be subject to a late fee equal to five percent of their loan balance if their payments are 10 days late
- Legally, the title loan rate ranges from 10 percent to 17 percent
Benefits of Title Loans
- You need money right now, and title loans in Arizona make that happen. Most registration loans are approved and dispersed in less than a day.
- There is no excess paperwork, such as tax returns and bank statements that are often required of applicants trying to get a bank loan. Title loan applications are short and simple.
- There is no credit check, which means bad credit is not an issue for the lender. Loan approval is based on the applicant having a vehicle with value and a way to pay back the loan. Loan amounts are based on how much equity is in the vehicle. So, if a person has a car they are willing to use as loan security, they could get a title loan.
- Short loan terms lets you pay off the loan against your car quickly, unlike bank loans which are often set for lengthy time periods. Of course, if a borrower needs more time to repay a loan, they can work something out with the lender to renew or restructure the registration loan.
- Instead of maintaining a parking lot full of vehicles, Velocity Cash lets the borrower keep their car. It does no one any good just sitting there, so why not let the borrower keep using it while they repay their Page, AZ title loan.
We also offer installment loans online. Apply for free today.