Q. What is a title loan?
A. This is a small consumer loan designed for short
term emergency cash needs. Usually a vehicle title is
used by placing the lender as a lienholder on the
title itself as security for the loan.
Q. How much does the loan cost?
A. Title loans are regulated by the Arizona's Department of Financial Institutions and vary in monthly interest
between 10 and 17% depending on the amount borrowed.
Q. How much can I borrow?
A. The amount financed depends on the collateral you
have. In the case of a title loan it would depend upon
the wholesale value of your vehicle. We typically loan
up to 70% (or more) of the value of your vehicle.
Another factor in determining the amount we loan is
your ability to repay the debt.
Q. How quickly can I get the money?
A. The funds are generally distributed in full the same day you apply for the loan.
Q. What if I have bad credit or a bankruptcy?
A. Bad credit and bankruptcy is not a
problem here. Your rate is not determined by your
credit worthiness. We look for reasons to make loans
rather than not to make them. |
