Car Equity Loans In Arizona
What is an auto equity loan? An auto equity loan is a short term loan that offers you the capability of tapping into the equity in your vehicle and accessing cash based on the value of your vehicle. It is a secured short term loan. So you are securing the loan with an asset. The asset is in the form of your vehicle’s clean and clear Arizona title.
Because you are securing the loan with the auto’s lien free title, you are still able to use and drive you car while making payments on your auto equity loan. The lender will add their name to your car title as a lien holder until you pay off the loan. Once you pay off your principal + interest, your loan will then be fulfilled. Auto Title Loans USA will then have Arizona MVD release your car’s title back to you. Your title will be released electronically back to you from the MVD without a lien holder on it. Once you have satisfied the repayment of the loan, you will be reissued a brand new vehicle title that is clean and clear just like when you originally brought it into us.
Why Get An Auto Equity Loan?
There are many good reasons to obtain a loan. Perhaps you need to cover payroll in the short term for your employees. Perhaps you are on summer vacation and will need access to cash. Whatever the reason may be, you might want to take a car equity loan into consideration for several good reasons.
Auto equity loans provide fast access to cash. Auto Title Loans USA, for example, can issue you a check in about 30 minutes. Simply get pre-approved online or over the phone, then bring in your vehicle to one of our many Phoenix valley locations, complete some paperwork and we can have a check in your hands, fast!
Car equity loans are short term loans. With many lenders, there is no prepayment penalty for paying the loan off early. This means, that you can use this financial product to your utmost advantage if you use it as a short term financial tool as it was intended and not as a long term loan.
Vehicle Equity loans are secured loans. Because you are using the title to your vehicle as collateral to secure the loan, the underwriting process to issue you funds is going to be less strict than a traditional long term loan from a bank or credit union. Auto Title Loans USA does not perform credit checks and we provide flexible terms to make sure you are comfortable making your monthly payments so you are able to repay the loan and get your title back.