What Are Auto Title Loans in Glendale, AZ?
You’ve probably heard the term, but you might not be sure what it means. If you’re considering auto title loans in Glendale, AZ, it’s important to know exactly what they are. Following is an FAQ on title loans to educate you on the process and what to expect if you take out a title loan.
What is an auto title loan?
An auto title loan in Glendale, AZ is a loan provided based on your car’s worth. You put up your car as collateral for the loan, and the lender loans you an amount based on the vehicle’s value.
How much is a typical auto title loan?
Auto title loans are usually for small amounts. Average ranges are from $500 to $1,000. Consumers often take out these loans for quick cash to make minimum payments on other bills.
What interest will I pay for an auto title loan?
Interest rates for auto title loans in Glendale, AZ are typically 25 percent or higher. The average ranges from 30 to 50 percent.
What are the repayment terms for an auto title loan?
Auto title loans are short-term agreements. The full balance of the loan is usually due in 30 to 90 days.
What happens if I can’t pay my auto title loan?
The lender takes your vehicle title as collateral for the loan. This means, if you do not repay the loan, they will keep your car as payment.
Does a title loan go on my credit report?
Typically, auto title loans in Glendale, AZ don’t involve your credit report. Lenders base the loan on your car’s value rather than your credit history, so auto title loans are not usually reported to the credit bureau, nor do they require a good credit score.
Do I have to own the car to get an auto title loan?
It depends. You may be required to have a clear title to get a loan on the vehicle. In some instances, you may be able to borrow on the equity you currently have in your car (the amount you have paid off so far).
Do I have to have a job to get an auto title loan?
No, you do not have to be employed to secure an auto title loan. The loan is given based on the value of your vehicle rather than your income.
How long does it take to get an auto title loan?
The auto title loan process is much faster than other types of loans. You can typically get cash the same day.
How do I get my title back?
Once you pay off the auto title loan in full, the lender will return your car title.
Where Can I Get Auto Title Loans in Glendale, AZ?
If you are looking for an auto title loan, this is one of the most important questions of all. For quick, efficient service from a reliable lender, contact the experts at Cash-N-Go Arizona Title Loans. We can answer any additional questions you have and get started on your auto title loan right away.