An Auto Title Loan Services in AZ is one of the best ways to get fast cash when you need it. It can also be one of the most efficient ways of getting a loan because you can only borrow small amounts at a time. You cannot get a large loan on your auto title which helps keep you from putting yourself in a stressful financial situation. An auto title loan is generally a fast and easy process. It doesn’t take long to go through the application process and obtain same day approval. Here are four basic facts that everyone should know about these types of loans.
When you get an Auto Title Loan AZ, you will be able to keep your vehicle but the loan company will become the lien-holder on the title. The lender keeps the title until you pay the loan off in full. If you should default on this loan, the lender can come repossess your vehicle for nonpayment.
Applying and qualifying for the loan will come with a few basic requirements. You must present your photo id, vehicle registration, insurance information, proof of residence, references and proof of income. When you give the lender all of the required information, they can process your loan and obtain a quick approval. If any information is missing or omitted from the application process, the final decision on your loan could be delayed.
The amount of the loan you can obtain will depend on the current value of your vehicle. It will also be determined by the amount of income you make. The lender will only loan you a percentage of your income. This helps keep you on track and keep you from having additional financial difficulties.
The lenders who give this type of loan is not concerned about your credit rating. You do not have to have good credit to obtain an auto title loan. A credit check is not necessary and past credit problems will not disqualify you from obtaining this type of loan. More information about the auto title loans can be obtained from Auto Title Loans and More, LLC.
