When you need a loan quickly in the Scottsdale area, it’s easy to feel like you have no choices and nowhere to go. Luckily, though, you do have recourses if you possess a vehicle.
When you possess an automobile with a title in your name, you always have a sure way of getting cash to turn to. All you must do is apply for a title loan. Title loans, in case you’re not familiar with the concept, are loans accessible through LoanCenter that are becoming more and more popular among Scottsdale area borrowers and for good reason.
These loans are offered to borrowers who are willing to offer their vehicle titles as loan security, which makes these loans very easy to qualify for. Furthermore, in addition to being a simple choice, these loans also happen to come with several great advantages. How do car title loans work? So, you may be wondering, if you don’t need good credit to qualify for a title loan, what do you need?
Well, to begin with, you’ll have to possess your vehicle in full and have the title to prove it. Your lender will actually obtain the title and use it as collateral on the loan, though you do get to keep using your car while you pay off the loan.
You’ll also need a government-issued ID to validate who you are and that you possess the vehicle in question. For most people, this will be a driver’s license or identification card. Passports are also acceptable if preferred.
Your lender may have additional requirements as well, such as proof of income to show you can fulfill the title loan and vehicle registration or proof of insurance.
Your lender will let you know specifically what documentation is needed for your specific situation. By getting together all of these items before you obtain a title loan, you can make the process even quicker and more streamlined
How to Qualify for a Title loan
Keep in mind that all title loan customers are required to be willing to use the vehicle title as security for the loan. Typically, they also need to have a source of verifiable regular income and be at least 18 years in age.
If you can satisfy these very easy requirements, then there’s a stellar chance that you can qualify for one of our title loans and for all of the benefits that go along with it.
Once you qualify for a title loan, it’s very fast and easy to get your funds. In fact, many of our borrowers actually get their loan funds on the very same day that they get approved for them. We know that many of our borrowers are in a hurry, so we don’t play around when it comes to getting you your money.
Plus, we’re proud to say that we’re a much faster option than other types of lenders. With bank lenders or other more standard lenders, for example, you can expect a lengthy, complex application process, followed by a long waiting period to determine if you’re qualified. If you’re not, then you’ve wasted a lot of time for nothing. And, if you are, you can expect to wait more for your loan money to be deposited into your account.
Most people who are trying to borrow money don’t have that kind of time to wait. If you need funds now, a title loan is a way to go, even if you can qualify for another type of loan.
Bad Credit is No Problem
The good news is that you actually can get a title loan through us, even with poor credit. Since you’ll be putting up your vehicle title as security, the loan is less risky for us, which means we don’t have to put quite as much value in your credit. Instead, we base our decision about whether you can borrow and, if so, how much on the worth of your vehicle. The more your car is worth, the more you can typically borrow.
We do examine your credit in most cases, but that’s mainly so that we can offer you the best interest rate and general loan terms possible. We use your credit, no matter what it looks like, to try and assist you, not as a mark against you the way some types of lenders do.
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