More and more consumers are turning to car title loans in AZ for quick cash. Title loans are relatively easy to receive and pay back, but only if you truly understand the process and the conditions of your loan before you sign.
There are a lot of title loan companies out there that will try to get you to sign with them, but you shouldn’t jump at the first one you see. Different companies offer title loans with different terms, and one loan’s terms might work better for your budget and personal needs.
While looking into car title loans, be sure to check on these six things before you sign to get the best loan possible:
- Process for application: Before you can get a loan, you’ll need to apply for one, and each company will have a different process for their applications. Some companies require you to fill out a form online or in person, while others let you call to see if you qualify. Also check on how long the process will take—will you be verified the same day? If you’re looking for quick cash, you probably don’t want to wait more than a few days.
- Application fees: Similarly to the application process, look into whether or not the company charges a fee for a loan application. There’s a chance that you may not be approved for a loan, in which case you will have wasted money, so be cautious when applying for loans.
- How quickly you’ll get cash: The whole point of car title loans in AZ is to get a loan quickly and easily. You don’t want to wait for a week or more to be able to have your cash in hand. Research how quickly the company you’re considering will be able to distribute your loan and what format it will be in (check or bank deposit).
- Low interest rates: Lenders make money from the interest they charge on your loan. You will ultimately owe some interest on your loan when you’re paying it off, but you can reduce the total amount owed by finding a title loan with a low interest rate. Compare a few rates from different companies before signing.
- Repayment fees: Another way to cut down on total accrued interest is by paying your loan off early. However, some companies will charge you a fee for early repayment, so be sure to understand what kind of fees are involved with your loan as early as possible.
- Payment options: When it comes time to pay back your loan, you’ll need to know the exact terms of the loan to pay it on time and in full. Know how long your loan term will be and see if there are other options that suit your budget better. Also ask your loan provider what forms of payment they accept so you can be prepared when payments are due.
To obtain a fast and easy loan, call Cash-N-Go Auto Title Loans of Phoenix. We provide customers with low interest rates and different loan options to meet your needs. With no prepayment penalties or hidden fees, we are an experienced lender you can trust for car title loans in AZ. Call us today!
Categorised in: Title Loans