The Process #1 Research and Filling the Formįirst, you’ll want to do some research on title loan companies in San Tan Valley- to avoid entanglement with anything sketchy or illegal methods a licensed title loans lender might do. Other documents and information may be required of you if you are not a US citizen, and would differ depending on your status***.Bank account information (this won’t be required by all lenders).Driver’s license or any other government-issued ID.Proof of valid vehicle insurance and registration.A clear lien-free vehicle title with only your name on it- if you aren’t the sole owner of the vehicle or you haven’t fully paid off the cost of your car, this could affect your application form approval. In San Tan Valley you will need the following for a title loan application: Requirements for a Car Title Loan In San Tan ValleyĬar title loans are pretty easy to qualify for because there aren’t many requirements for a title loan application form. The lender should provide you with the complete title loan terms in writing before any contract is signed, and you may also request a written receipt for cash payments.Under 44-290 ARS, you may also request the lender to provide you with a written statement outlining due dates and payment amounts.Per law 44-287 ARS, the contract must state the buyer’s and lender’s names, as well as a description of the vehicle.In San Tan Valley, auto title loans are regulated by the Arizona State Department of Financial Institutions: Any additional finance charges (lenders may charge service and processing fees).So at the end of your loan’s terms, you should be able to pay back the following all at once: However, you should take note that an auto title loan usually requires a lump-sum payment. To make processing go even faster, in San Tan Valley it’s sometimes possible to call loan companies to get pre-approval and a quotation. Once you’ve established yourself as a qualified borrower, you can receive the loan amount in cash or have it directly sent to your bank account. The loan amount is determined by the value of your car among other factors, and with this sort of collateral, lenders can provide substantial loan services to even those with a bad credit score. While you may keep and use your vehicle during the term of the loan, the vehicle title will be in the possession of the lenders. As a loan that’s seen as considerably low-risk to lenders, they can be quickly approved for those that qualify. This means that should the borrower be unable to pay back their loan on time, the lender or creditor has legal rights to repossess the vehicle stipulated in the contract.ĭon’t worry, our FAQs section will address all your worries and doubts! How Car Title Loans Work In San Tan ValleyĬar title loans are usually short-term loans with high-interest rates. What Exactly Is a Car Title Loan?įirst thing’s first: what exactly is a car title loan? A car title loan also referred to as auto title loans is a type of loan that a borrower makes using their car title as collateral. The application for and processing of title loans will differ across the country, so if you’re looking up information on applying for an auto title loan in San Tan Valley, you’ve come to the right place. If you’re interested in exploring different ways to obtain cash in case of emergencies, title loans in San Tan Valley are one quick option available to owners of automobiles.Ĭash loans can be hard to come by when you don’t have great credit scores but that doesn’t mean applying with low credit ratings is game over too. Car Title Loans In San Tan Valley, Arizona
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