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Find a Tuscon Title Loan Location
Are you applying for a title loan in Tuscon and you are confused about the process or have questions? LoanCenter has a location in Tuscon AZ, which makes it easy for those living nearby to apply in person. While we have a convenient online application process, some applicants prefer tackling the process and the paperwork face-to-face.
Is the process different if you decide to do it in person? Absolutely not! The application process remains the same; the only difference is face-to-face contact with the representative. Whether you head to one of our brick and mortar locations or apply online is simply a matter of personal preference.
So what do you need to know about title loans in Tucson? Every state may have its different restrictions or legal guidelines pertaining to title loans. The laws vary across the country.
In Arizona, there is a $2,000 minimum loan amount, and you must be able to prove that you have the financial means to repay the loan. This means that the loan that we give you has to be at minimum $2,000, and we cannot write a loan if you don’t have the financial means to take on the monthly payments.
Title loans are limited by the equity of your automobile. So we cannot lend you more than your car is worth. Your car has to have enough equity (this is the difference between what you still owe on the car and its resale value) to cover the value of the loan. The equity of your car is used as collateral for your loan.
So what factors affect the resale value?
A car’s resale value and equity depends on many factors, including:
The type of title could affect the resale value of your car. A salvage title might indicate that the car had significant damage from an accident, and, therefore, has lost much resale value. A car with a salvage title cannot be used to apply for a title loan.
Some models are simply more desirable, and, for that reason, can command more money. Others are so common that their value isn’t nearly is high. Different automobile manufacturers also are known for being economical, mid-range in price or high-end.
But what about the size of the vehicle? Does that drive up the value? SUVs may be worth more than sedans. But, again, this depends on other factors, too. Size isn’t necessarily indicative of value. A sport coupe manufactured by a luxury brand could be worth much more than a mid-range SUV. But a luxury SUV could be more valuable than that coupe.
What Do I Need to Apply?
Ready to apply for a title loan? You’ll need to fill out the application. We will need to do a credit check to review your credit scores, and we’ll need access to your title.
If you can’t find your title, don’t worry! We can still help you. However, it could delay the approval process a bit.
Many applicants wonder if they can still be approved with a low credit score. You may still get a loan with a lower score, but the terms of your loan maybe different, as it is determined by many factors. However, just give us a call at (866) 553-3840, and an experience loan officer can give you an estimate on the cost.
Once you’re approved, you should read all the terms and payment obligations for your loan. Review the interest rate and your monthly payment expectations. If you have any questions, don’t hesitate to ask.
You can apply online! Fill out the online form, and one of our customer service representatives will help you! You also have the option to live-chat with a representative, in case you have any questions or concerns.
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