Getting into a situation where you need cash fast is a difficult one to resolve, especially when your credit is poor. But, if you have a job and own a car, you can turn your car into a source of money so you can take care of your debt. A Car Loan in Phoenix doesn’t require a credit check, only the title to your car. What you are essentially doing is taking out a loan against your car, then repaying it just like you did the first time you purchased it.
A Car Loan Phoenix works by taking advantage of the asset value in your car. Essentially, your car has a value that is dependent on its condition, age and mileage. The better all of these are, the more money you may be able to take out against your car. The lender decides on the final amount that it is going to fund you after doing an assessment of your car and your income level.
While there is no credit check performed, the lender does want to make sure that you are capable of repaying the loan. This is due to the fact that the lender can repossess your car for non-payment, something you agree to when you sign the loan. However, the lender doesn’t want to have a parking lot full of vehicles; it would rather you pay the loan back in the agreed-upon amount of time so you can get your title back. The lender would rather offer you less money in order to enable you to repay it on time than give you more than you can easily handle.
Getting a title loan is relatively easy. All you have to do is go to the lender’s website and find the application. Fill out the required fields with the correct information and click submit. The lender receives your application and reviews your information. Once it decides how much it can offer you based upon what you submit, it contacts you with the offer. At this point, it is up to you to decide if you want to take the loan. If you do, you get the cash quickly so you can go and take care of your needs.
