Tips for Choosing the Right Company for Auto Title Loan | Cash-N-Go Auto Title Loans of Phoenix

Tips for Choosing the Right Company for Auto Title Loan

March 26, 2020

When you need cash fast, many people are too worried about their credit or timing to look into cash advances or bank loans. Auto title loans are a popular choice because of how fast and easy they are to obtain—but don’t just go with the first local title lender in Phoenix, AZ that you come across. It’s important to do your research so you don’t fall prey to unscrupulous lenders in your time of need.

Choosing the right auto title loan company will ensure that your loan process is as safe, easy and low-risk as possible:

  • Check their license: In Arizona, auto title loan companies are required to register as sales finance companies, and they must carry a license from the state. To make sure your auto title loan company is legitimate, call the Arizona Department of Financial Institutions (ADFI) to inquire about whether their license is valid and up to date.
  • Look for reviews and testimonials: Word of mouth is always a great place to start when you want to find out more about a company. Who have your friends and family used, and what were their experiences like? You can also look online for reviews and testimonials through sites like Google and Yelp. Many of our clients also like to call the Better Business Bureau for more results.
  • Ask questions: When you’re talking to your loan specialist, make sure that you read the loan documents thoroughly and ask all the questions you need, in order to understand what’s required from you and what the consequences of late or non-payment may be. A reputable title loan company will patiently explain everything involved so you’ll be informed and confident in your choice.
  • Never pay a fee up front: If your auto title loan asks for a fee up front, turn around and walk out. Title loans use your vehicle’s title as collateral—this is how the loan company guarantees their loan is protected, and why it negates the necessity that you pay any sort of fees or down payments.
  • Only take out what you need: Finally, you might be tempted to take out as much as you can get, but that may not be a wise choice. Consider what you can afford to pay each month, where the money will come from and how you’ll plan for any additional financial surprises.

With some careful research, title loans can be a lifesaver.

Work with local title lenders in Phoenix, AZ

When life hits you with unplanned expenses, getting an auto title loan can be the answer you need. In 30 minutes, you could walk out the door with anywhere from $300 to $75,000, all at an interest rate that’s a lot lower than cash advances and a lot faster than a bank loan. Cash-N-Go Auto Title Loans of Phoenix has worked hard to streamline the process so you can be in and out with your mind at ease. Call or stop by our office today to start your auto title loan.

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