Are you in search of auto title loans in AZ? How can you get the best terms among the various lenders in the area? Use the following guide. These questions will help you weigh your options as you consider taking out an auto title loan.
What payment options are available?
Don’t sign on the dotted line before exploring what options you have for the auto title loan in AZ. Know what will be expected of you for repayment. Does the lender want direct payment, or will payments be taken from your paycheck? How long will the loan last? Typically, longer loan terms mean lower payments. Of course, that also means you’ll pay more in interest. To save money, choose loan terms for the shortest amount of time, then be sure to pay it off on time.
Are there any prepayment penalties?
Sometimes, paying off your auto title loan in AZ costs more money. Why? The lender may charge a prepayment penalty. When you set up the terms of your loan, be sure to look for this stipulation. Longer terms often include this penalty. The lender is counting on making their profit from the interest you pay over the life of the loan, so if you pay it off early, they charge you a fee to make up the difference.
What cars will the lender accept?
Not every car is eligible for an auto title loan in AZ. Some lenders accept cars of certain ages. Others consider the mileage of the car. Before you begin any discussions to consider a lender, find out if they will even offer a title loan for your vehicle.
Is the lender licensed to operate in your state?
If you’re searching online for an auto title loan in AZ, it’s easy to find lenders that aren’t qualified to offer loans in AZ. Be sure the company you are considering is registered in your state. They must be licensed in Arizona to offer you an auto title loan in AZ.
Will they let you keep driving your car?
Confirm with the lender that they will allow you to continue driving your car after you receive the auto title loan in AZ. It’s rare that this is not the case, but it’s important to verify. Rare instances have occurred where the lender requires the car to be impounded during the life of the loan. As mentioned previously, it’s crucial to completely understand all the terms of the loan before you move forward with the deal.
Where Can I Get an Auto Title Loan in AZ?
Are you ready to start the process of obtaining an auto title loan in AZ? The title loan experts at Cash-N-Go Auto Title Loans of Phoenix are ready to assist you. We can get your title loan funded in 30 minutes. We offer low rates and payment plans that will fit your budget, with no prepayment penalties or hidden fees. Contact us today with any further questions or to get started on your loan.
Categorised in: Title Loans