Whether you’re planning on making a big purchase or you’ve had some unexpected expenses come up recently, you might be looking for a way to augment your income and give yourself some extra wiggle room in your budget. Title loans are very popular options for people who are looking for financing, and they offer several benefits. If you’re thinking about applying for title loans in Phoenix, AZ, keep reading to learn more about what title loans are and what kinds of advantages they offer.
What are title loans?
If you aren’t familiar with title loans, it’s helpful to learn a little bit more about them to see if they might be a good option for your situation. Title loans are secured loans that allow people to use their vehicles as collateral to get cash financing. When borrowers apply for title loans, a lien is placed on the vehicle, which gives the lender the ability to gain ownership of the vehicle if the borrower defaults on the loan. Once the loan has been completely paid off, the borrower gets the title for their vehicle back from the lender and they can apply for a new loan if they want to.
Benefits of title loans
If you’re thinking about applying for a title loan, you might be wondering what kinds of advantages you can expect from this financing option compared with other types of financing. Here are a few of the benefits of applying for title loans in Phoenix, AZ:
- Quick and convenient: One of the biggest benefits of applying for title loans in Arizona is that they offer a quick and convenient financing option. The application process is very quick and much faster than financing from other financial institutions. In fact, people who apply for title loans in Phoenix, AZ can get cash financing the same day—often within just a matter of minutes!
- No interruption to car use: Another great benefit of getting a title loan is that it won’t interrupt your ability to use your vehicle. While the lender holds onto the car title, the borrower can continue using the car as normal. As long as borrowers continue to make regular, on-time payments on the loan, the title loan won’t have any effect on their day-to-day vehicle use and drivers will get their car title back after the loan is paid off.
- Accessible to people with poor credit: Credit issues can be big barriers to people who are trying to secure financing for large purchases or for emergency expenses. Even years after a credit problem, like a bankruptcy or delinquent account, people may still have credit scores that are too low for them qualify for traditional financing.
Title loans in Arizona
If you have questions about title loans in Arizona, or you’re interested in applying for a title loan, reach out to Cash-N-Go Auto Title Loans of Phoenix. Since 2000, we have been providing auto title loans to help people get the financing they need without having to go through a lengthy approval process. Find out more about our loan options and get started with an application by giving us a call or stopping by today.
Categorised in: Title Loans