Arizona Title Loans Laws
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Arizona Title Loan Laws

While there are a few federal regulations for the title loan industry, most states set their own laws. Arizona is considered borrower-friendly, but title loans are still an expensive option.

How Title Loans Work

A title loan is a secured loan where the borrower’s car serves as collateral. If the borrower defaults, the lender can repossess the car. Unlike unsecured loans, title loans have high interest rates but no credit checks, making them accessible for those with bad credit.

Title Loan Application Process

The application process is quick, often completed in under an hour:

  1. The borrower fills out paperwork at the title loan office.
  2. The lender inspects the vehicle.
  3. The borrower provides the car title.
  4. The lender issues a loan based on the car’s value.

Some companies offer online pre-approvals, but borrowers must visit the office to finalize the loan.

Title Loan Requirements in Arizona

Arizona has minimal requirements for title loans. Borrowers need a government-issued ID and a lien-free car title. Lenders determine the loan amount based on the car’s market value, which can range from hundreds to tens of thousands of dollars.

Additional requirements may include proof of income, full coverage insurance, or personal references, depending on the lender.

Title Loan Interest Rates in Arizona

Arizona caps title loan interest rates using a sliding scale:

  • Loans ≤ $500: 17% monthly interest (204% APR).
  • $501–$2,500: 15% monthly interest (180% APR).
  • $2,501–$5,000: 13% monthly interest (156% APR).
  • Loans > $5,000: 10% monthly interest (120% APR).

While these rates are lower than in many states, they still represent a significant financial burden for borrowers.

Arizona Title Loan Contractual Requirements

Arizona requires that all title loan contracts include the names of both parties, the lender’s location, and the borrower’s address. Contracts must clearly outline interest rates, and borrowers can request detailed payment breakdowns or receipts for cash payments.

Title Loan Terms and Payments in Arizona

Title loans in Arizona typically have 30-day terms, although extensions are allowed. Borrowers can roll over their loans by paying the interest, adding to the principal and extending the term.

If a borrower defaults, the lender may charge a late fee of up to 5% of the unpaid balance after 10 days past due.

Car Repossession Laws in Arizona

When borrowers default, lenders can repossess their vehicles without prior notice, but they must obtain a court order. Vehicles are sold to recover costs, and any surplus must be returned to the borrower.

Arizona allows borrowers to negotiate repayment options after repossession but before the vehicle sale, depending on the lender’s policies.

Arizona Title Loans Compared to Other States

While Arizona offers more borrower protections than many states, title loans remain costly. The high APRs, even under regulation, often trap borrowers in cycles of debt. Nonetheless, Arizona is relatively borrower-friendly compared to states with no rate caps.

What Are Title Loans?

What Are Title Loans?

Title loans allow you to use your car's title to secure a loan quickly. Unlike selling your car, you're only temporarily loaning out the equity in exchange for immediate funds while retaining possession of your vehicle.

Loan Cheetah ensures you keep your wheels while accessing the cash you need urgent

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Bad Credit, No Credit Loans

Bad Credit, No Credit Loans?

How do bad credit or no credit loans, commonly known as title loans, differ from traditional loans regarding credit scoring?

Bad credit or no credit loans, also known as title loans, operate differently from traditional loans in terms of credit score requirements. In traditional lending, your credit score plays a significant role in determining loan approval and terms. However, with title loans offered by Loan Cheetah, the loan value is primarily determined by the value of your vehicle rather than your credit score. This means that even if you have imperfect credit, nonexistent credit, or bankruptcy on file, you may still be eligible for a title loan based on the value of your vehicle. Therefore, while your credit score may have limited or no influence, the value of your vehicle serves as the primary factor in securing the loan.

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Quality Title Loans

Quality Title Loans

Loan Cheetah prioritizes not only speed but also the quality of your loan. We secure your loan quickly while offering competitive interest rates, higher cash payouts, and flexible repayment plans with terms you can rely on.

Loan Cheetah Gets You Title Loans Faster

Loan Cheetah Gets You Title Loans Faster

Loan Cheetah delivers top-rated title loans in half the time it takes other lenders to process paperwork. Faster access to funds means getting back to your life sooner. Our commitment to speed and efficiency ensures your peace of mind while addressing your financial needs.

It's Time to Get a Running Start on Your Title Loans

It's Time to Get a Running Start on Your Title Loans

Loan Cheetah provides speed and accuracy, offering lower interest rates, higher cash payouts, and reduced processing time. Stop waiting for your finances to magically improve and take action with Loan Cheetah today.

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Title Loan Disclosure

This is a solicitation for a loan. This is not a guaranteed offer and requires a complete and approved application. Title- secured loan amounts are subject to vehicle evaluation. Results and actual amounts may vary. Certain limitations may apply.

Personal Loan Disclosure

This is a solicitation for a loan. This is not a guaranteed offer and requires a complete and approved application. Title- secured loan amounts are subject to vehicle evaluation. Results and actual amounts may vary. Certain limitations may apply.

FAQ's about Car Title Loans

A car title loan allows you to borrow money using the title of your vehicle as collateral. You temporarily surrender the title to the lender and get it back once the loan is repaid.

The amount of cash you can receive for your car title loan depends on factors such as the value of your vehicle, your income, and state regulations. At LoanCheetah, we offer loans up to $10,000, depending on eligibility.

Yes, you can continue driving your car as usual while you have a title loan from LoanCheetah. We understand the importance of transportation, so you can keep your vehicle throughout the loan term.

To apply for a car title loan, you typically need to provide a government-issued ID, the title to your vehicle, and proof of income. Additional documents may be required based on state regulations and lender policies.

Yes, LoanCheetah accepts most credit types, including bad credit. Unlike traditional lenders who focus solely on credit scores, we use the value of your vehicle to determine loan eligibility.

With LoanCheetah, you can get approved for a car title loan quickly, often in as little as 30 minutes. Once approved, you may receive cash the same day, providing fast access to the funds you need.

If you’re unable to repay your car title loan, contact LoanCheetah immediately to discuss your options. Depending on the situation, we may be able to offer a repayment plan or other solutions to help you avoid default.

Yes, LoanCheetah offers refinancing options for existing car title loans. We may be able to pay off your current loan with another lender and provide you with a new loan at a competitive rate.

No, LoanCheetah does not charge penalties for early repayment of car title loans. You can pay off your loan ahead of schedule without incurring any additional fees.

If you default on your car title loan, the lender may repossess your vehicle to recover the outstanding balance. However, LoanCheetah works with customers to find alternative solutions and avoid repossession whenever possible.