How Car Title Loans in Phoenix can Help You
Unfortunately there is no way to plan for every emergency situation. Sometimes, your car breaks down and you don’t have the money to have it repaired immediately. Sometimes, an unexpected medical bill arises or you have a family emergency and you need to travel to a distant location to be with your immediate family. Regardless of the situation, it may require money that you don’t currently have available to you. If your credit score isn’t so good, this can make things very difficult when it comes to traditional lending and it’s why people who have poor credit score but owned their own vehicle will typically turn to Car Title Loans Services in Phoenix as a possible solution.
Rather than fussing with loads of paperwork, long approval times and longer repayment plans, many people use the value of the vehicles they own and parlay that into a short-term emergency loan. You see, with a bank, you’ll need to file a great deal of paperwork, bring a number of different types of documentation into the bank for inspection and you’ll also need to have a fairly good credit report and order for the bank to take a chance on you by loaning you money.
If you have an emergency, you don’t have time to wait for a traditional bank to approve your loan and you’ll probably not qualify for it anyway. With Car Title Loans Phoenix, if you have a car, have a regular paying job and are 18 years or older, the chances are good that you can get a loan against the title for your vehicle. Rather than your credit score being collateral, the title for your vehicle is the collateral for the loan. Depending on the type of job you have, your monthly income as well as the value of your car, you can borrow anywhere from $50-$1500 for any emergency situations that may arise.
Lastly, car title loans are easy to get. In many cases, you can simply apply for these types of loans on the Internet. It’s a very short and simple application process and while you may have to go into an office to show proof of income and produce your car title, once you’re approved which should typically take a few minutes, you can have your emergency funds deposited into your checking account automatically in as little as 24 hours or sooner.