Finding title loans in Phoenix can be as easy and going online to an internet search engine and typing in a keyword or phrase. This is certainly a way to get results and you will usually end up with many more results than you were looking for. This can be intimidating, but, it will ultimately help to make sure that you can find the company with the best rates for your needs. A car title loan is one that you secure with collateral, your car, instead of with credit and so does not usually require a credit check. This makes car title loans useful for those who have little to no credit or bad credit and could not otherwise secure a loan. As long as you have the title to your car and have no liens or current financing on your car then you can use your car to secure a loan for a percentage of the value of your car.
When you take your car and title into a company specializing in title loans in Phoenix they will usually check your title to make sure that it is valid, look up the value of your car on a nationally accepted scale, and then determine what percentage of the value of the car you will be loaned. The percentage of your cars value will vary depending on the individual title loan company; however most of the time you will be able to borrow fifty percent or more of the value of your car. Title loans can be short or long term loans depending on company policies and your personal preference. Sometimes you can even refinance your title loan or roll your loan over into a new one when the term of the loan ends.
Because title loans in Phoenix are collateral loans, if you default on your title loan then the lending company can repossess your car and sell it to get their money back. If you are having trouble with your payments; however, then you can usually talk to the lender about what your options are before the loan defaults and be more likely to keep your car and keep your loan in good standing. A lot of lenders would rather work with you as much as they can instead of having to hire someone to repossess your car and pay any legal fees involved in the collections process.
Title loans Phoenix – Finding title loans in Phoenix? American First Financial LLC has the best rates on auto and car title loans in Phoenix, AZ.
