Are you worried over looming auto title loan payment deadlines and the additional fees or penalty that will be charged if you don’t pay on time? If this is what is bothering you, you need to do your math and calculate the money that you need to make the minimum payments on time. If you are looking to decide between personal loans from your bank or taking a Phoenix car title loan, you need to think again.

If you are looking at instant cash, personal loans may not be the right decision as banks take into consideration your credit history, your income and other factors. And banks do not give loans quickly. But Phoenix auto title loans are quick and easy to get as you tap into the equity of the car and are usually approved within the same day.

In case you are looking to avoid the additional fees that are applicable when you pay late or reconnection fees, you need to find the right resources that can give you the money that provides with the money before the deadline. It is possible and you do not even have to go to a bank. Some of the available options that can give you money on the quick is payday loans, pawnshops and car title loans.

Of all these alternatives, the most popular option is Phoenix vehicle title loans and more people are now looking at cashing on the equity available on their cars. You can tap into the available equity by putting your car as collateral and the pink slip and title of the car is used by the lender as security on the title loan. The amount of money that you receive will depend on the condition and evaluated value of the vehicle.

But you are free to drive the car and all that the Phoenix car title loan lender will keep is the title of the car. There are numerous other options wherein you are approved of a car title loan even when you are paying for the car. The lender in such cases only approves 25% to 50% of the paid equity on the car. So if the car is valued at $5000 and you have cleared payments for $3000, the maximum amount of money that you will be able to take on loan is $1500.

So taking a car title loan to pay of previous debts is an option that can help you save on additional fees. But you have to research well, find a BBB accredited and approved lender that gives you flexible payment options.