Watch Out for These Car Title Loan Red Flags | Cash-N-Go Auto Title Loans of Phoenix

Watch Out for These Car Title Loan Red Flags

December 26, 2019

If you’re struggling to pay the bills, you might be tempted to go with the first quick way you can find to make extra cash, but desperation can lead to becoming the victim of a scam. Everyone knows that when you’re in danger of losing your utilities, home or food, you’re much less likely to ask questions—but you should.

When you’re looking into getting a Phoenix car title loan, there are some key red flags that should send you running for the hills. That doesn’t mean that every car title loan company is predatory, but if you’re not sure whether you can trust a company, there are a few ways to verify that they’re the real deal.

Red flags to avoid

  • They want to charge you fees: The whole point of a car title loan is that you’re using your car as collateral, meaning that if you don’t pay the loan back, the company takes ownership of the car—that’s how they know their money is guaranteed to come back to them. When a loan company wants to charge you fees up front, they’re not reputable.
  • They don’t have a business address, or the address they give you is fake: Be very wary of businesses without a dedicated physical address. You should be able to walk into an office and talk to staff.
  • They never answer their phone: When you call a car title loan company, you should be able to talk to a business representative who can answer all of your questions about the car title loan process, as well as what you need to qualify.
  • You can’t find any information about them, or they have terrible reviews: If you’re unable to find any information about a company online or in the phone book, that’s a major red flag. The same is true if they only have terrible reviews.

How to check a car title loan company’s credentials

  • Drive by their place of business: If you get a business address, swing by to make sure it’s a real office.
  • Call to talk to a representative: Call the business number provided and try to talk to a real person (not just a recording). Ask all the questions you can come up with.
  • Google them: Search for the company name, as well as the names of any representatives you can find, paying special attention to reviews on consumer awareness sites.
  • Check with the Better Business Bureau: Finally, a business accredited with the BBB is a great sign that they’re legitimate.

Phoenix car title loans

Getting fast cash can be safe and easy when you get a Phoenix car title loan. The team at Cash-N-Go Auto Title Loans of Phoenix can approve you for a $300 to $75,000 loan in as little as 30 minutes, with no credit check required. Best of all, we are a reputable company with the happy customers to prove it. Call or stop by today to find out how your car title can help you pay the bills.

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