Car title loans are a great way to get quick cash for emergencies, but not every lender is reputable. Some shady lenders will take advantage of your emergency and lack of time to research. It’s important that you make sure to go with an established lender so that you can avoid predatory lending practices.
How to avoid predatory lenders
Here are some ways in which you can avoid being taken advantage of by a scammer during your search for car title loans in Phoenix, AZ:
- Word of mouth: One of the best ways you can find out about a title loan company is to ask people you trust. Your friends and family members may be able to tell you about their positive and negative experiences.
- Better Business Bureau: If a company is accredited with the Better Business Bureau, you can rest assured that they’re an accredited lender who does business according to the BBB’s standards.
- Quick research: Websites like Ripoff Report and Consumer Affairs can shed light on a loan company’s business practices. You can also look at sites like Google and Yelp to see if there’s a pattern of positive or negative reviews. If the reviews match up with the good things you’ve heard, and there’s a BBB rating available, it’s likely a reputable company.
- Check their address: Does the company actually have a physical address that you can visit, or do they utilize a post office box? Legitimate businesses will typically have regular business hours, and you should be able to speak to someone in the office.
- Call the company: If a company doesn’t have a phone number listed, the phone is out of service or there’s an automated system that never seems to put you in touch with a live human, consider that a major red flag. You should be able to talk to a professional representative who can advise you about your situation and how the loan process works.
- Be skeptical of fees: Finally, be very skeptical of anyone who asks for money upfront. After all, the goal of car title loans in Phoenix, AZ is to receive money at the outset, not put down a payment—that’s what the title of your vehicle provides. You should not be paying anyone money before the first loan payment is due, and your lender should be able to provide you with a detailed schedule of payments.
Ultimately, a reputable car title loan company will be accredited with the BBB, and have plenty of satisfied customers and good reviews. Trust your research and your intuition—if something seems amiss, look for another company.
Learn more about car title loans in Phoenix, AZ
When you need fast cash with low rates and flexible repayment terms, from $300 to 75,000, call Cash-N-Go Auto Title Loans of Phoenix today. No credit is required, and you can be approved in as little as 30 minutes. Life happens, but you don’t have to be left without a lifeline. Call or stop by today to get your Arizona title loan.
Categorised in: Title Loans