Common Questions

What is a title loan?
A title loan is simply a loan that is based upon the value of your vehicle; this can be a car, truck, RV, motorcycle, boat, or any other type of vehicle that you have a title for. Car title loans are an alternative lending solution for people who have bad credit, people who need money in a hurry, or anyone that does not want to deal with traditional bank loans. Title loans are different that auto pawn loans; with an auto title loan, you keep your car and drive as usual. On the other hand, with an auto pawn loan, the lender will keep your vehicle for the duration of the loan.

Does my car have to be new? 
Absolutely not! Most people who get title loans are approved with older vehicles that have some mileage on them.

How much money can I borrow?
The amount that you can borrow is based on the value of your vehicle. In Arizona, loan amounts can range from $300 to $50,000. We highly encourage you to get the smallest amount possible, just because you car is worth $10,000 does not mean that you will be required to borrow that much.

Is an Arizona title required?
Yes. If you do not currently have an Arizona title, then it is a simple process that can be done at the motor vehicle department.

What if I have a lien?
In most cases, a clear title is a requirement for a auto title loan. However, if you only have a few payments left, there is a way to work around that.

Can I get a title loan if the vehicle title is not in my name?
No, the only person(s) who can get a title loan is the owner of the vehicle listed on the title.

Do I have to have a bank account?
No, having a checking or savings account is not a requirement for a title loan approval.

Do I have to have auto insurance in order to get a title loan?
Yes, and for vehicles that are more valuable, you might need to have full-coverage insurance.

Can I get a title loan if the only income I have is retirement income, disability benefits, or I am collecting unemployment?
Yes, as long as you can show proof that you are receiving a stable monthly source of income you can get approved. 

How long does it take to get approved for a title loan? 
Title loans are convenient, fast, and simple. As long as you have met all of the requirements, the process is generally very quick.

What does it cost to see if I qualify?
Finding out if you qualify for a title loan is free. There are no fees involved in the application process.

After the loan is approved, when will my first payment be due?
Unless you have made other arrangements, the first payment is generally due in 30 days.

What happens if I am late on a payment?
If you miss a payment without contacting the title loan lender, they can take possession of your vehicle and sell it in order to cover the loan.

Does a title loan affect my credit?
Generally speaking, a credit report is not part of the title loan process. Although car title loan companies can check national databases to gather information about you, loans are not typically rejected due to bad credit or no credit. Also, most title loan companies do not report to credit bureaus.

Can I get a title loan without the title?
No, if you have lost or misplaced your title, you should get a replacement title from the motor vehicle department.

Can I have two title loans at the same time?
You cannot have two auto title loan for the same vehicle at the same time. However, if you own two different vehicles, it is possible to have two loans at one time.

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