Get An Auto Title Loan In Tucson
Desert Title Loans offers access to online title loans in Tucson that don't require a credit check! Anyone can qualify with a paid off vehicle and income verification. These title loans are ideal for borrowers with poor credit who can't qualify for an unsecured loan, and you can borrow $1,500 to $20,000 using the equity in your vehicle!
Auto title loans use your vehicle's collateral as security for a loan. In Tucson, you can qualify with any lien-free car, truck, or SUV worth $4,000 or more. The vehicle must be titled in your name with no other cosigners, and you have 6 to 42 months to repay the loan.
Start by applying with Desert Title Loans online or calling 623-526-5001. We'll then match you with a local lender in Tucson, who will get you an exact quote based on your car's equity amount. That title loan company will underwrite your application, schedule a time to inspect the vehicle, and let you know how much you can borrow. Your loan amount is based on the vehicle's resale value, and you can expect to borrow 40% or more of the vehicle's equity. In some scenarios you can borrow up to 55% if you bring in the vehicle for an inspection!
It takes less than 24 hours to process your application, and once you sign the loan docs, you can arrange a time to get your cash or have the money sent right to your bank account if you need money quickly. You can also pick up a money order at locations in the Catalina Foothills or any shop near the University of Arizona.
Requirements For Title Loans Lenders in Tucson
Any online title loan requires collateral in the form of a paid off vehicle. The car's title should be in your name, with no other cosigners or lienholders that can claim ownership. You will need proof of income from your current employer or other bank documents showing you can afford the loan's monthly payments. If you don't have a full-time job, you can still be approved using income verification from Government benefits, annuities, and legal settlements.
Some title loan companies in Tucson will ask for proof that your vehicle is insured and registered within Arizona, and they may want to install a GPS tracking device on your vehicle if you're looking to borrow $10,000 or more. For loans over $2,500, you may need to bring your car to any inspection location to confirm it runs ok and has no significant issues that could lower its resale value.
Loan Amounts From A Tucson Title Loan Company
Your loan amount is entirely based on the vehicle's resale value. First time borrowers in Tucson can expect a title loan of $1,000 to $15,000, with smaller amounts for those who apply for registration loans. With a registration loan, you have minimal underwriting requirements compared to a title loan and you don't need to sign over your car's title. A registration loan uses your car's registration as collateral, and essentially, there's no collateral from your vehicle backing up the loan. Expect a loan amount of $300 to $1,500 for a typical registration loan in Tucson.
Remember, the more your vehicle is worth, the more you can borrow. Newer cars and those with minimal mileage will qualify for higher loan amounts. Some classic cars and older vehicles with significant value can qualify if there's enough equity available.
Do you own a motorcycle or semi truck valued at $4,000 or more? These are just a few examples of vehicles other than a car you can use as collateral for a title loan in Tucson! At Desert Title Loans, we offer access to equity loans for any vehicle that can be titled in Arizona, and some customers can borrow up to 75% of their motorcycle's resale value.
Often, we see funding approvals within 24 hours when you meet with a direct lender in Tucson and complete the vehicle inspection that same day. Many car title loan companies are in Central Tucson and near the University of Arizona, and that means you can get everything done in person that same day. There are fewer lenders in the Catalina Foothills and Westside parts of town.
Interest Rates and Fees With A Title Loan In Tucson
Interest rates and fees for a title loan in Tucson vary significantly and are primarily based on your loan amount, lending profile and vehicle value. Most lenders in Arizona have introductory APRs of under 25% for new customers, but those quickly increase after a few months. You can generally expect an interest rate starting at 30% for most title loans and an APR that can be well over 100% in some cases. Rates on a registration loan are just as high, but you won't pay as much over the life of the loan as the loan amounts are limited and typically repaid within months.
The fees for a title loan are similar to those for other personal loans. There may be a loan origination fee when you first apply, a nominal fee to check your credit if applicable, and some companies charge title fees if they're added as a lienholder to the car's title. In addition to the fees, you can expect late and repossession fees if you default on the loan and the vehicle is repossessed and sold at auction.
Would you like to lower the interest loan on your title loan with another lender? We can reduce the APR for existing title loans by a considerable amount if you have had that loan for more than a year and are still making payments on it. Call us at 623-526-5001 to see how much you can save by reducing the interest on your title loan. We work with several direct lenders in Tucson, and we're confident we can save you money with a title loan refinance!
Apply For A Tucson Title Loan Today!
Apply with Desert Title Loans, and we'll get you an instant approval estimate in less than an hour. The title loan companies we work with in Tucson have competitive rates, and most won't charge a pre-payment penalty if you choose to pay off your loan early. Call us at 623-526-5001 to start your application. When you complete our online form, we only need your vehicle information and brief contact details! We can provide a quote showing your estimated loan amount, payment terms, and interest rate!
