Southwest Title Loans wants your title loan business. Below are some of the frequently asked questions we get. Please feel free to call us at 623-748-1585 to get your application started today.
How much money is available for me to borrow with a title loan?
You can borrow as little as a couple hundred dollars and as much as $50,000. Our personal title loans are based on the $ value of your vehicle, not your personal credit score.
What are the steps to apply for a loan?
There are 3 ways you can apply for a title loans from Southwest Title Loans:
Do you keep my car?
No. You keep the car, and have access to drive it. We keep the auto title in a secure location as collateral for your title loan. As soon as you pay off the loan we return the vehicle title to you.
Do you charge anything to see if I qualify for the title loan?
No, we will not charge any fees to see if you qualify for a title loan
If I qualify, how quickly can you get me my title loan cash?
With a title loan from Southwest Title Loans you never have to wait for someone in another office to approve your title loan. You can get your cash in the same day.
How important is my credit in qualifying for a title loan?
At Southwest Title Loans we do not run a credit check or factor in your credit score when approving you for a title loan- rather the loan is based on the value of your car. This is why Title loans are referred to as bad credit loans, because your personal credit does not matter
When is the first payment due?
Usually your first title loan payment will be due about 30 days after we fund your title loan.
Is there a minimum amount my car should be worth to get a title loan?
Generally a vehicle should have a minimum current wholesale value of $1000 to qualify. AzAutoTitleloans.com does not charge anything to find out how much your car is worth. We take into consideration such things as vehicle condition, year, make and model.
What if I still owe money on my car?
If you have a newer car with a just a few payments left we can sometimes work those payments into the loan.
Who decides how long the title loan is for? How do I pay it back?
You call the shots! How long do you want to pay it back? We provide our customers the ability to choose from various repayment options.
How do title loans work?
Title loans are secured by the value of your vehicle. You are pledging your vehicle as collateral for your loan. By doing this it lowers the risk on the loan, and that allows you to get a much larger amount at a lower rate than you would get with a payday or a personal loan. This also makes the process easier because we care less about your personal credit score and more about the equity in your car.
Is there anytime where I should not get a title loan?
If you do not have the ability to repay the loan then don’t take out a title loan.
How much time does it take to get a title loan?
It usually takes less than a half hour to do a title loan with AzAutoTitleloans.com by Southwest Title Loans.
Will bankruptcy or bad personal credit prevent me from getting a title loan?
We want to work with you and look for reasons to make title loan’s. As long as you are not currently in bankruptcy there is not a problem. Bad or no credit is never a problem, our title loans are asset backed loans, based on the value of your vehicle not your credit score.
When do I get my vehicle title back?
When you complete your title loan by paying it off we will return your car title to you. Until that time we store it in a completely secure Arizona based location.
Does my vehicle need an Arizona Certificate of Title?
Yes the vehicle needs to have an Arizona title. Converting an out of state title to an AZ title is not difficult. Give us a call at 623-748-1585 and we can help you get the process started.
What if I am on disability or retirement, does it effect my ability to get a title loan?
No, as long as you can show that you have the ability to repay your title loan.
What is the minimum amount due that I have to pay every month?
Every month you have to pay at least the interest due on your title loan. Anything you pay over that is deducted from the principal balance of your title loan.
What is the upfront cost to get a title loan?
Southwest Title Loans does not charge anything to you to apply for a title loan. If your application is not approved, you will pay nothing. If you decide not to take the loan after your application is approved, you are not charged anything. We are happy to answer any of your questions before you sign the title loan documents.
Are there application and other fees to get a title loan?
We do not charge any fees.
What is the difference between an auto title loan and auto pawn?
Most of the time with Auto Pawn your car is held as collateral and you lose the use of it. With a car title loan from Southwest Title Loans you get to keep driving your car, we keep the title.
If I currently am unemployed can I still get a title loan?
Yes, as long as you have a source of monthly income that will let you repay your title loan. Also good or bad credit does not matter to us because our title loan is a “no credit check” loan.
As I pay on the auto title loan are you charging interest on the original amount I borrowed?
No, with AzAutoTitleloans.com title loans you only pay interest on the amount of principal left on the title loan. This saves you money as you pay down the title loan balance.
How are the title loan funds given to me?
We give you a check from a local bank, the local bank can cash the check for you.
if I want to pay off the loan early, are there any prepayment charges?
No, there are no prepayment penalties with a title loan from Southwest Title Loans. At any time you can pay your loan off and we will release your car title back to you.
What if I don’t have time to make it to your location?
We have a mobile unit that can come to you. We understand that you are busy. Call us today @ 623-748-1585 to set up a time for us to meet you.
What papers do I need to have ready to get a title loan?