When trying to find auto title loans in Phoenix your first step is most likely to type some key words into an internet search engine and then sift through the results. You can also find title loan companies through the phone book, by driving around your area, or on the recommendation of family, neighbors, friends, and coworkers. After you have found a list of title loan companies in your area it is time to determine which company would be the best for you to work with for your loan. Some of the things that you will want to look for when choosing a title loan company are reputation, rates, and loan term. If you are looking for a long term loan then you will not want to go to a company which specializes in short term loans and vice versa.
To find out the reputation of just about any company, title loan companies or others, all you really have to do is ask. Ask coworkers, neighbors, friends, family, and the internet. You should be able to find someone who has dealt with the company in the past and who has an opinion about it.
Auto title loans in Phoenix are usually short or long term loans for a percentage of what your car is worth and generally have high interest rates. The bonus to getting a title loan is that your credit is usually not considered in the application and so is not checked. This means that if you have bad or no credit then an auto title loan can end up being your only loan option.
If you own your car free and clear then you can put it up as collateral for a loan equal to a percentage of your car’s value. The amount that you will receive depends on the value of your car, determined by make, model, year, and condition and is usually figured out by the lender based on a table of nationally accepted values; the percentage of your car’s value that you receive with a title loan will differ based on the policies of the individual title loan company.
Because of the flexibility of auto title loans in Phoenix you can usually roll over any balance at the end of your loan term, refinance the loan, or even use the title loan to consolidate your other loan or debt payments so that you only have one bill to pay each month.
