Get A Vehicle Title Loan In Chandler
Title loans with no credit checks can be an excellent option for anyone who can't qualify for an unsecured loan or simply for those looking to borrow more than $1,000. By using your car as collateral for a loan, you can borrow a greater amount of money than a personal loan, and most customers can get approved for a 2010 or newer car. Borrow between $1,000 and $25,000 with a secured loan from a licensed lender in Chandler, AZ, and Desert Title Loans can get you an initial loan estimate in less than 30 mins.
With your vehicle title as collateral, a lender can offer cash for any short-term financial needs - think of unexpected emergencies or sudden bills like an auto repair. Apply online with us today, and a customer service representative will get back to you within minutes to underwrite your application and determine how much money you can borrow (we need just 10-15 minutes to process your application). There are no long waits - Arizona title loans are available immediately for those who qualify, and you don't need perfect credit to get funded! Let's get into the details about how auto title loans work in Chandler and what's required.
What Is Needed To Qualify For Title Loans In Chandler
The short answer is a vehicle title, proof of income, and an active checking account with direct deposit. The car has to be completely paid off and titled in your name. It can't be a shared vehicle with any cosigners, and you can't have an existing title loan where the car is in danger of repossess or a recent bankruptcy. We need some form of income verification to ensure you can afford the required payments and any kind of payment stubs from your employer or bank records will be acceptable. Some lenders in Chandler require additional documents showing your vehicle is registered with proper insurance that covers its full value if it's damaged or destroyed in an accident. You'll likely need a liability insurance policy of at least $20,000 in Arizona. However, for the most part, a lien-free vehicle title proof of monthly income of $1,500 or more a month is the main requirement to get approved for this type of collateral loan.
Loan Amounts With Online Title Loans In Chandler, AZ
Funding amounts depend on your vehicle's equity value and your monthly income. Expect a loan of 40% to 75% of the vehicle's resale value, with most customers qualifying for at least $1,000 using a car in good shape with fewer than 150,000 miles.. Repeat applicants can expect a more significant loan amount with some high value vehicles qualifying for a loan of $10,000 or more. You can determine your monthly payment based on the amount you borrow. For example, loan amounts of $5,000 or more are often repaid in 24 to 36 months, and the repayment term can be longer if you need a lower monthly payment. For loans under 36 months, you can expect a repayment term of 8 to 24 months. Some customers choose to repay their loans in 6 months or less, and the amount of time you choose is entirely your choice. While you won't need to pay anything more than what's due monthly, the option is to pay extra at any time or pay off your loan immediately.
You may also want to consider a commercial truck title loan if you live in Chandler, as these loans offer a better chance of approval with a truck worth $5,000 or more. Like a vehicle title loan, you must hand over the pink slip as collateral for the borrowed amount. But unlike some car title loans, you'll still be able to keep driving your car or truck, and the funding amounts are far higher than those of a typical car title loan. Besides the higher loan amount, you may also see a lower interest rate than other high-dollar unsecured loans, as the equity from your semi truck backs your loan amount.
Tips For Responsible Repayment To Avoid Repossession
As we all know, the main drawback to a title loan in Chandler is that your vehicle can be repossessed if you fall behind on the payments. You typically have a few days or weeks to catch up on the payments after falling behind, but some lenders will jump at the chance to repossess your vehicle, and at that point, the clock is ticking for them to sell your car or truck at auction. The best tip we can give to avoid a scenario where you are facing a repossession is to plan ahead and limit your initial loan amount to what you need for a financial emergency. People only run into problems where they can't make payments when they borrow more than they can afford. Also, contact your lender at the first chance you have when you feel there's a chance you'll miss your monthly payment. Suggest an alternative solution where your lender will still get their money but only at a lender date, or ask them if they can take a lower monthly payment so that you can pay something.
Title loan companies in Chandler will work with you on a payment extension, and some will even negotiate a new payment plan or refinance your loan. But you need to be open to different options and let them know before you get too far behind on the amount owed!
Apply Online Or With A Licensed Chandler Title Loan Company
The most significant advantage to applying in Chandler with Desert Title loans is convenience. Why drive around town looking for a local company when you can get started with our online application and be matched with multiple licensed title loan providers in Arizona? Besides the convenience of applying online, we also promise a low interest rate from our network of lenders, as they will all compete for your business! Quick approval times are another great benefit of Desert Title Loans, as you will usually hear back from us with a yes or no answer within minutes! Lastly, there's a good chance you can get your cash in one business day if you apply before 2 pm MST. Our lenders can send the funds by direct deposit to your checking or savings account within 24 hours, and some companies in Downtown Chandler and Ocotillo provide cash in hand if you need funds that same day!
Another point worth noting is that we allow our customers to qualify for a higher loan even if they have poor credit or can't show proof of full time employment. As long as you can show proof of income from an investment, Government benefits, or an annuity, we can likely get you approved for a title loan - just let us know what's going on, and we can discuss options. It's easier than you think to get cash for your car in Chandler, AZ, and there's a bonus of getting multiple quotes for other financing options, like car title loans for bad credit.
Sometimes, you may feel more comfortable applying with a neighborhood company offering title loans and registration loans in Chandler. Dozens of local lenders all over Maricopa County want to offer cash for your vehicle. Get started on an application with Desert Title Loans and find out how much money you can get with a title loan in Arizona. Apply online or call us at 623-526-5001!
