What areas of the Valley do we serve?
For over a decade Auto Title Loans of Phoenix has served thousands of customers from Gilbert to Anthem and Fountain Hills to Surprise.
What exactly is a Title Loan?
A title loan is a loan against the equity in your vehicle. The vehicle's title is used as collateral for the loan. In other states these types of loans are called "pink slip loans", asset-based loans, or auto pawn loans. It is important to note that an "auto title pawn loan" usually means that the lender keeps the vehicle, while an "auto title loan" means that you get to keep and drive your vehicle.
Why is the website name different from the company's name?
Our Internet name (Auto Title Loans of Phoenix) more accurately reflects how our company has evolved over the past decade. When we first started, we provided short-term quick cash loans. Because the legal limits on these types of loans was $500, we found that the needs of some our customers were only being partially met. With a Title Loan the amount of money we can loan is limited only by the Kelly Blue Book value of your vehicle. Consequently, we started to specialize in Title Loans and have hundreds of satisfied current and former customers.
Do I need to be employed to get a Title Loan?
No, as long as you have a verifiable source of income that will let you repay your title loan.
Are retirement, pension, trust and/or disability payments considered income?
Yes, as long as you can demonstrate the ability to repay your loan. The last thing we want to do is place you in a situation that causes you financial hardship
Is my credit score checked as a condition of the loan?
We do not check your credit, nor do we report to any of the three credit reporting agencies. Past bankruptcies or poor or bad credit do not matter. Not only does a credit check lower your credit score, it serves no purpose for this type of loan. Your vehicle is your collateral. This makes a title loan a great way to save your credit score and still borrow money.
If I have a Title Loan can I still sell or trade in my vehicle?
Yes. Your loan has to be paid off to have the title transferred to the new owner or dealer. We can assist you in this process. If you are selling the vehicle you can bring the buyer to our loan center, pay off the title loan and keep any excess cash. We will release the lien right there and then. If the buyer of your vehicle is with you, our in-house notary will notarize your signature on the back of the title at no cost so you can transfer the title to the buyer. If you are trading in your vehicle, the dealer will usually call for pay off of your loan. Once the dealer's funds are received our lien is released and sent to the dealer.
Can I get a Title Loan if I have gone through a bankruptcy?
Yes. Past bankruptcies are not an important part of our evaluation process.
What vehicles are eligible for a Title Loan?
Personal cars, trucks, vans, SUVs and some motorcycles with an Arizona title. Older vehicles are also eligible as long as they have sufficient value to cover the amount of your loan.
How high does the value of my vehicle have to be to get a Title Loan?
Usually the vehicle must have a minimum current wholesale value of at least $1000 as determined by Kelly Blue Book. We take into consideration such things as year, make, model and mechanical and cosmetic condition. There is no charge for this service.
What are the minimum and maximum title loan amounts?
We will loan as little as $100 and an unlimited maximum amount depending on the vehicle's value.
Can a title loan be given if there is an existing loan on the vehicle?
Yes, if there is an existing loan with another title loan company, bank, individual or dealership, and the value of the vehicle is equal to or exceeds the existing loan amount. We can pay off the existing loan and give you the extra cash from the proceeds.
Are there any vehicle mileage or vehicle age restrictions?
No. We have found that some older vehicles hold their value better than some newer vehicles. Give us a call at 602-569-3331 to see if your vehicle meets our $1000 minimum wholesale value requirements.
What is a "Lien-Free" title?
A vehicle title without any outstanding loans, judgments or encumbrances on it. You own your vehicle free and clear.
What if my vehicle title has more than one person on the title?
In most cases this is not a problem. It depends on how the joint ownership is listed on the title. If it is an "or" joint ownership, then there is not a problem in issuing a loan to you. If the joint ownership is either an "and" or "and/or" the other party would also have to apply for the loan. The person on the title is the one who will receive the loan.
Does the title have to be an Arizona Title to qualify for a loan?
Yes. The vehicle must be registered and titled in Arizona. If the vehicle has an out-of-state title, the process of converting it to an Arizona title is relatively simple. We can assist you in transferring the title to Arizona.
What if I misplaced my title?
As long as you are the registered owner we can assist you in getting a replacement to complete the loan process.
Why do Arizona lenders keep my title?
Arizona requires that the lender hold the title until the loan is paid off.
When and how do I get my title when the loan is paid off?
Unlike other lenders that make you wait to get your title, we give your title back immediately (with the lien released) after you make your final payment. If you make your final payment by email, fax or telephone and do not want to come in to pick up your title, we will gladly mail it to you by registered mail.
Are there any extra fees involved in obtaining a title loan?
The only extra fee is a one-time $25 title modification fee that allows us to put a lien on your title. Unlike some other companies, we do not charge late fees, prepayment fees, account maintenance fees, processing fees, balloon payments, etc. In addition, if you pay off your loan early there are no extra fees or penalties. In fact, we encourage you to pay off your loan as quickly as possible.
What is the minimum monthly payment?
You have to pay at least the accrued interest every 30 days. Anything you pay over the minimum reduces the principal amount.
How long do I have to pay off my loan?
At a minimum, a payment for the amount of the accrued interest must be made at least every 30 days. Title loans should not be used as a long- term loan. While we do not want to mandate when you have to pay the loan off, it is important to remember that these types of loans should be used for short-term financial needs.
What happens if I make a payment before it is due or pay off my loan early?
You are only charged for the accrued daily interest to the date of your payment and your next payment would be due 30 days from the date you make your payment. We do not charge a prepayment penalty if you pay off your loan early. In fact, Auto Title Loans of Phoenix encourages all of its customers to pay off their title loans as quickly as possible.
Do I have to wait for my payment date to make a payment?
No. Payments made before your due date result in lower payments because interest accrues daily. Payments in excess of the interest amount due will be applied to a reduction in the principal amount of your loan.
Is interest calculated on the original amount of my loan when I pay down on the principal?
No. You only pay interest on the remaining principal balance of your title loan with Auto Title Loans of Phoenix.
Is there a set or minimum amount I can pay down on the principal?
No. What ever amount you feel comfortable with is fine as long as the interest due on that day is paid first. Our customers appreciate the flexibility they have in determining how quickly they want to pay off their title loan.
Can I make a payment on my Title Loan every two weeks or twice a month when I get paid?
Yes. If you pay more than the interest due on that date you will reduce the principal amount and you will only be paying the interest on the reduced principal amount.
Can I set up a payment plan that will assure that my loan is paid off in a certain number of months?
Yes. At Auto Title Loans of Phoenix we have the flexibility to design a loan repayment program that fits your needs and financial situation. Just let us know what you want to do.
What should I do if I know I am going to be a few days late on my title loan payment?
Call and let us know when you will be able to make the payment. There is no penalty for a late payment, but interest will continue to accrue daily until you make your payment. However, if you are seriously late and do not keep in touch with us, a repossession could occur. Repossessions do not help either party and are used only as a last resort.
Once the loan is issued can I increase the amount of the loan?
Yes, as long as you not borrowed the maximum value of the vehicle and all prior payments have been made on time.
When can I expect a call after I apply for a Title Loan online?
Auto Title Loans of Phoenix will respond to your online submission within minutes during our business hours. We are open Monday - Friday 9am - 7pm and Saturday 9am - 3pm. If you submit your online application after hours, we will call you first thing in the morning on the following business day. When we call we will explain what you need to bring with you to complete the loan process.
When I apply online, who reviews my application?
The person who calls you will be the person you will work with during the entire loan process. Our staff has been with us for a long time and has the authority to quote and issue loans without seeking "permission". Please remember that all information you provide is kept confidential.
Are there any charges involved in applying for a Title Loan?
No. Auto Title Loans of Phoenix never charges title loan application fees.
How long does it take Auto Title Loans of Phoenix to complete my title loan?
30 minutes or less in most cases. While we always take time to answer any questions you may have and explain the details of a title loan, our goal is to minimize the "hassle" and get you your loan proceeds as quickly as possible. We have found that a complete understanding of the process and the loan itself results in satisfied customers.
What do I need to bring to obtain a title loan?
If approved for a title loan, how quickly will the money be available?
Immediately!!! You never have to wait for someone in another office to approve your loan.
3510 East Bell Road, Suite 1
Phoenix, Arizona 85032
Phone 602-569-3331
Fax 602-569-6177