The easiest way to tap into the equity that you hold on your car is to take a Phoenix auto title loan. It not only gets you cash within a few hours of taking the title loan but it gives you the car to drive around, though the lender might insist on fixing a GPS system within it. As your vehicle is kept as collateral, as a secure loan it carries less risk for the lender thereby allowing you to have a loan payout quickly. If you are looking at more money quickly, car title loan is a better option that many other short term loans available in the market.
When you compare Phoenix auto title loans as against other popular short term loans such as payday loans and unsecured loans that are offered, the auto title loans have considerably the most competitive interest rates and you are on a tight budget, it is easy to make payments on it every month.
Irrespective of whether you have an average credit score or a low credit history fraught with bankruptcy and defaults, you are still eligible for Phoenix car title loan. Does that sound interesting to you now? Most people with low credit score are unable to get a loan or any financial assistance from traditional financial institutions and banks.
Auto title loans are given on the basis of the value of your car and its current condition, and do not need any credit history checks as it is secured against the equity that you hold in the car. Most of the unsecured loans have a high interest rate of over 20% and more while the Phoenix credit card personal loans have even higher interest rates, but when you look at the deals that some lenders are providing on the vehicle title loans, they make good options. Regardless of the current credit score and the financial problems that you are going through, these title loans are easy to apply for and get approved within a day or two. From worrying about filling in the gaps, when you have an emergency, just dip into the equity that you already have.
Some unscrupulous lenders charge a high interest rate but you need to be careful and work with only the best lenders in the auto title loan industry that charge affordable on a monthly basis. There are various options that work for you so you need to talk with the lender and decide what works for you requirements.