Where Can I Get Emergency Loan Money in Tucson?
There are all kinds of emergencies that will pop up in life, many of which require a large amount of quick cash you may not have at the time. When these emergencies pop up, the funds needed to address the problem are required sooner rather than later.
A car title loan is an easy way to get a hold of necessary emergency funds in a hurry. A car title loan is when a lender provides financial assistance based on the equity in the borrower’s vehicle and their ability to pay off a loan1. In some cases, the borrower leaves their car title with the lender while they repay the loan.
The borrower then leaves the title of their car with the lender while the loan is being repaid. During the loan repayment period, the borrower still keeps and drives their vehicle so long as they keep up with the monthly payments.
While the loan is being repaid, however, the borrower still gets to keep and drive their vehicle as long as they keep up with the convenient payments.
How Much Money Can I Get for a Car Title Loan in Tucson?
The amount of money you can get for a car title loan depends on a few different things. For example:
- Value of your car
- Length of the loan
- Monthly income
Lenders use a variety of factors to determine the value of your car, like the make and model, the year, the mileage, the condition of the interior and exterior, etc. Once the lender establishes a value for your car, it is used to calculate the maximum amount of money you can potentially borrow. The length of the loan determines the size of your monthly payments. And finally, your monthly income is used to calculate the amount of money you can afford to pay back each month. It’s important to note that some states restrict the length of car title loans, which can impact the size of your monthly payments.
What is Needed to Get a Car Title Loan in Tucson?
If you’re interested in getting a car title loan, there are a few documents you’ll need to assemble. Some of the more important ones are:
- A qualifying car title in the customer’s name
- A government-issued photo ID like a driver’s license or state ID
- Proof of Income (paycheck stubs, invoices, or bank account statements) showing the customer’s ability to repay their loan
- Proof of residence (a piece of recent mail like a utility bill will suffice)
What’s Considered Proof of Income for a Car Title Loan in Tucson?
Many people believe that the only way to show proof of income for a car title loan is with a recent paystub. There are actually plenty of other ways to demonstrate your ability to pay back your car title loan, for example:
- Social Security
- Worker’s Compensation
Can I Get a Car Title Loan in Tucson if I Don’t Have My Car Title?
If you don’t have a copy of your car title, you’ll need to get a copy of it from the Department of Motor Vehicles (“DMV”). Certain DMVs are even capable of providing you with an expedited copy of your car title.
What Are the Advantages of Getting a Car Title Loan in Tucson?
There are actually a number of advantages to getting a car title loan over other types of loans.
- Fast loan turnaround – Unlike other types of loans, you can get your car title loan in as little as a single business day3
- Keep your car – You can keep and drive your car as normal, just be sure to keep up on your convenient monthly loan payments
- Flexible money – Unlike something like a mortgage or a car loan, you can use your car title loan for an emergency expense you come across, be it a medical expense, car repair, home repair, etc
Is it Okay to Get a Second Title Loan in Tucson?
When getting title loans in Tucson, know that they are perfectly legal in the state of Arizona. That’s because in the state statutes, auto title loan companies are referred to as secondary motor finance companies.
But the idea that someone could get multiple title loans in Tucson is not the matter of yes or no. In fact, the short answer is that it depends on who that person happens to be asking.
There’s a chance to have two title loans in Tucson if1:
- One owns another car that does not have any liens on it.
- Someone that knows somebody who could get a title loan on their car under their name (couple, married, etc.).
- Get a second title loan after paying off the first one!
How to Get a Second Title Loan in Tucson
When applying for a second title loan, getting them may be easier than one would think.
Second Title Loan with Another Car
There are many who own more than a single vehicle. Like the first car, a second car may offer similar value for a title loan. As long as the car’s title is free of any liens and someone can provide a proof of income, they may be able to get a second title loan1.
Second Title Loan on Same Car
After paying off the first title loan, more title loans in Tucson could be available and possible1. For the most part, there tends to be no limit on how many times someone could use the same vehicle to get another title loan.
If the car title is free of liens (if not, check out what can be done via refinancing) and there is no remaining balance on the previous title loan, a prospective borrower may be able to use the same car to get another title loan1.
Aside from the ways that have been told, there is generally no possible way to get a second title loan or multiple title loans in Tucson on the same car, at the same time. However, if someone is looking for a second title loan to pay off an existing loan that they may have, consider getting help from a car title loan1.
What Happens if I Can’t Pay My Car Title Loan Back in Tucson?
If you’re having trouble keeping up with your payments, it’s vital that you contact your lender as soon as possible. Borrowers who fall too far behind on their payments run the risk of defaulting and having their car repossessed. While each state has their own laws governing repossession, they tend to follow a general pattern. Once a borrower misses enough payments to go into default, their car becomes at risk for repossession. Depending on the state, lenders may be required to send borrowers a right to cure notice, informing them that they have a limited time during which they can repay the entire balance of their loan. Once any grace period has expired, the lender can begin the repossession process.
After the borrower’s car has been repossessed, the lender normally auctions it off to recoup the money they gave out. This may be the end of the relationship between the borrower and the lender. In some states though, the lender can continue to pursue the borrower in the event that the money raised doesn’t cover the balance of the loan. In other states, the lender must return any surplus money raised to the borrower.
Do Car Title Loans Have Hidden Fees?
Reputable car title lenders never include hidden fees in their loan terms. Instead, they strive to make their loan agreements simple and easy to understand. They are also happy to answer any questions. They never include things like balloon payments or prepayment penalties. This means you’ll never have to make an enormous payment at the end of your loan life, nor be punished for paying your loan back early.
The Car Title Loan Process Goes Quickly in Tucson
Having to spend hours or days going through overly-complex documents is pointless, especially when the money is needed right now. The filing process could be finished in just five minutes.
To get the ball rolling for receiving a car title loan:
- Send through the required info by completing this form on a computer, tablet or smartphone;
- Simply call at 877-787-4923; or
If you want to see how much you may qualify for, you can submit your documents in any of the following ways1:
- Text them to 1-818-521-2470
- Email them
Loan Approvals Can Happen in Tucson!
There will be no sitting around waiting for paperwork to finish processing when applying for a car title loan with us. We understand that our customers need their money right now to cover whatever emergency has popped up. Getting approval for a car title loan and subsequently having the money can happen in as little as one business day3.
If approved, there are plenty of easy ways to pick up the money that has been loaned. These methods include:
- With a check
- In some cases, going to a money center and picking up the borrowed funds through MoneyGram.
Repayment Can be Easy in Tucson
No one should have to be punished for needing money to take care of a dire emergency. If you ever need to make different arrangements on a payment or simply want to pay more, you can speak to a representative or pay your account online, at any time.
Now that you’re a little more familiar with car title loans, you can see that they are a great option if you need a loan now in Tucson. Car title loans can be a great way to cover unexpected expenses that may arise. Don’t let an unexpected expense derail your financial plans.