It can cause quite a bit of stress when you have expenses that are too much for you to handle, and the longer you wait around to handle them, the worse the situation gets. Fortunately, there is a way to get the money you need today, as plenty of people in the same situation have applied for title loans Phoenix for quick cash. The application process is short, simple and to the point, and approval rates are high. It doesn't matter if you have a great credit score, a low score or no credit history to speak of, because bad credit won't prevent you from getting approved.
At Blue Palo Car Title Loans, we decided to make that application process even easier for our customers, so we set up an online title loan application for car title loans in Phoenix. It's easy to complete, takes just seconds and you can find it here on our site. Just head over to the title loan application form and enter the following information about the car that you plan to put up as collateral on your loan:
We also need the following contact information:
After we get that information from you, we can calculate your car's current market value. That value allows us to preapprove you for a title loan and provide a free car title loan estimate which is contingent on the condition of the car. We have one of our Blue Palo Car Title Loans representatives get in touch with you, as well, to answer any additional questions you have about title loans.
Wondering what you're going to need to get a title loan? As long as you have a car that's paid off and in your name, the only documents we need to see are your car title and your government-issued ID. The car title we hang on to over the repayment period of the title loan, but you get it back as soon as the loan is paid in full. We check your date of birth on your ID to make sure that you're at least 18 years old, as that's the minimum to take out a title loan by federal law.
There are few things more frustrating than looking for title loans Phoenix, only to get listings for title loan companies that aren't even in the city. After all, you want a convenient solution to your financial problems, not one that you need to drive half an hour away or more just to reach. With Blue Palo Car Title Loans, driving a long distance isn't a concern, as we selected a location right here in Phoenix for our office. You can get here quickly and easily whether you're driving on surface streets to dodge traffic or on the freeway. There's also plenty of parking options nearby, ensuring that you don't need to walk far.
When you get here, one of our Blue Palo Car Title Loans representatives can get you started on the brief title loan application paperwork. Don't forget to tell the representative if you went on our site and filled out the online application for a preapproval already. We'll perform a quick vehicle inspection to evaluate your car's condition and compare it to the numbers in a vehicle value guide, then once we've confirmed its value we decide exactly how much we can lend you. After that, all we need is your car title and we can issue you the loan, getting you out of here with cash in your pocket. It often takes under an hour, so it's easy and quick, just like an auto title loan in Phoenix should be.
Title loan regulations vary from state to state, so how they work can be very different depending on where you live. Arizona's title loan laws govern title loans Phoenix.
When you borrow a title loan, your car is the collateral, but you get to keep it during the repayment period. The lender only keeps your car title until you pay it back. Arizona doesn't set a maximum on title loan amounts, so that all depends on your car's value and how much the lender is willing to loan you.
The state has set caps on title loan interest rates depending on the amount of the loan. If your loan is $500 or less, the maximum monthly interest rate is 17 percent. It drops to 15 percent for loans ranging from $500 to $2,500, 13 percent on loans from $2,500 to $5,000, and 10 percent on anything over $5,000.
Arizona doesn't set limits on title loan terms, but the standard term length is 30 days. What if you can't pay your title loan back on the due date? You have the option of rolling over the loan, which means you extend it by paying only the interest. The loan principal carries over to another 30-day term with another interest charge. This buys you more time if money's tight at the end of the month.
If you default on the loan by not paying it at all, then the lender can repossess your car and sell it to recoup what you owe on the loan. You can work with most lenders if you're having payment issues, so communication is key in those situations. At Blue Palo Car Title Loans, we pride ourselves with finding payment solutions for our customers. In the event that the lender sells your car, if there's any deficiency balance because the sale didn't cover all of what you owe, you're responsible for paying that. If there's a surplus balance because the lender made more than what you owe on the sale of the car, then they are required by law to send you that surplus balance.