If you have an unexpected expense, such as a home disaster, medical emergency, car breakdown, or sudden job loss, you need a short-term personal loan as soon as possible.
Around the greater Tucson area, the median household income is nearly $10,000 less than that of the country, and less than 23% of Arizonians have an emergency fund. Around 40% of people living in Tucson live from paycheck to paycheck and struggle to come up with $400 or more to cover an unexpected expense. If you are stuck with bad credit, it may seem like you have no options for personal loans.
Getting title loans in Tucson is a solution for getting cash quickly to cope with an emergency. However, it’s important to only apply for title secured loans at reputable companies offering competitive ratings, so read on as we look at the best lenders for a title loan or personal loan.
Best Car Title Loan Companies in Tucson
- Best Car Title Loan Companies in Tucson
- How to Get a Title Loan in Tucson
- Title Loan Stores Near Me in Tucson, AZ
- Find Title Loan Companies in Nearby Cities
If you’re looking for a car title loan in Tucson, you can choose from several authorized and registered providers. However, not all lenders offer the same loan terms, and their minimum loan amounts, approval ratings, and terms and conditions may differ. To save you time, let’s look at the title loan lenders with the best ratings and repayment terms.
LoanMart is ideal if you need a loan but have a low credit score. This lender offers $50,000 loans, secured LOCs, and title pawns maximum loan amount for first-time applicants, with a $1,000 minimum loan amount. Applicants for title loans and personal unsecured loans must be at least 18 years of age and own a vehicle with a value of at least $1,500.
LoanMart’s terms range from 12 to 36 months, with relatively high rates. You can borrow 100% of your car’s equity through LoanMart, and applicants with a good payment history may qualify for higher amounts.
Before You Apply
- Minimum amount: $1,000
- Maximum amount: $50,000
- Loan terms of up to 5 years
- One business day turnaround time
- You can still drive your car
- The maximum amount is relatively high
- You don’t need to have a bank account
- Several ways to receive funds
Max Cash is a lender-connection service that connects borrowers and lenders. After submitting your information through the Max Cash platform, they will determine the amount you qualify for based on your car’s value. You have to meet various requirements, including a credit inquiry to apply and a valid AZ vehicle registration in your name.
Through Max Cash, you can get a loan of up to $50,000, with APRs ranging between 29% and 300%. The average APR is around 92%. The loan term depends on the loan offer you choose.
Before You Apply
- Max Cash is not a direct lender
- Maximum loan amount: $50,000
- You must be a US citizen and 18 or older
- You need a regular source of income
- Access to many lenders
- You don’t need a bank account
- Same-day turnaround time
- Sample contracts are available
- Offers complete information on the application process
LoanCenter is a lender offering loan amounts up to $50,000. The loan amount, rates, and terms you’ll receive depend on the value of your vehicle as well as your financial situation. LoanCenter’s annual interest rates range from 35.5% to 199.99%, and they don’t include your loan fees.
As part of the application process, you’ll have to take your vehicle to a specific location for an inspection. You can qualify for a LoanCenter title loan with bad credit and any form of income, including government benefits, pension, or alimony.
Before You Apply
- Business hours: M-F 9am-7pm, Sat: 10am-2pm, Sun: closed
- Your car must be registered in Arizona
- LoanCenter charges fees in addition to interest
- Maximum amount: $50,000
- You need a valid government-issued ID
- Same-day funding
- You don’t need employment to qualify
- User-friendly website with live chat support
- You can apply online
How to Get a Title Loan in Tucson
To qualify for a title loan, you must own a vehicle outright, and account approval requires satisfaction that there are no liens against the title. With most lenders, you can apply online or in-person. In both cases, you have to complete a loan application. If you want to apply in person, check the lender website for store directions contributors nearby Tucson.
Before applying, make sure you have the following ready:
- Valid vehicle registration
- Original vehicle title as proof of sole ownership
- Proof of residency and valid government-issued ID
- Proof of vehicle insurance
- Proof of income (dated within 45 days) or ability to repay the loan
- Working duplicates of your vehicle keys
- Your zip code, email address (optional), and physical address
Before you sign a title loan offer, make sure you read, understand, and agree to all the terms. According to the Federal Truth in Lending Act, car title lenders must give you the loan terms in writing, just like any other form of credit.
The loan terms to consider include the annual percentage rate (APR) and the finance charge. The lender may also charge you fees such as lien fees, document fees, processing fees, late fees, loan origination fees, and title charges.
Add-on features, such as a vehicle roadside service, can increase the finance charge or APR significantly. If you don’t need the additional services, don’t include them in your loan terms.
As part of the terms, you may have to agree to electronically receive documents and disclosures and provide your personal information. Some lenders have a “contact my cell number for marketing purposes” box you can uncheck. Keep in mind that affiliates may use the info for business marketing purposes.
Generally speaking, you don’t need good credit to qualify for this type of loan, and most lenders won’t check your credit.
Title Loan Stores Near Me in Tucson, AZ
If you want to shop for title loans in person, you can visit lenders’ stores in Tucson or call their store associate for details. Many lenders use an automatic telephone dialing system (artificial prerecorded voice or text), so you can get information after-hours. Below is a list of reputable title loan locations in Tucson.
Cheap Title Loans
1675 S Craycroft Rd, Tucson, AZ 85711
7066 East Golf Links Tucson, AZ 85730
Cash Time Loan Center
2355 North Swan Rd, Tucson, AZ 85712
2530 E. Broadway Blvd. Tucson AZ. 85716
Fast Auto Title Loans
4401 E Broadway Blvd, Tucson, AZ 85711
3771 S 12th Ave, Tucson, AZ 85713
TitleMax Title Loans
7221 E Golf Links Rd Suite 209, Tucson, AZ 85730
3777 E Broadway Blvd, Tucson, AZ 85716
How much cash can I get for a title loan?
Several factors determine the loan amount lenders offer. Loan amounts vary by state, and maximum loan amounts differ from lender to lender. Before determining your loan amount, the lender service will conduct an ability to repay analysis to ensure you can pay back the loan.
The value of your car is also a factor in determining how much cash you will get. In most cases, the loan amount is 25% to 50% of the car value.
How do title loans work in Tucson?
Title loans, Tucson, AZ, are secured loans, which means you offer your vehicle as collateral for the loan. If you fail to make your repayments, the lender has the right to repossess and sell your vehicle and use the returns to repay the outstanding amount.
Your monthly loan repayment depends on the loan amount, the repayment term, and the interest rate. The longer the repayment term, the lower your monthly payment will be, but the more interest you will pay over the loan’s life.
What is the interest rate on a title loan?
Interest is the cost of borrowing money from the lender. With title loans, the interest at an annual percentage rate can be as high as 300%, or 25% in monthly interest charges. Factors determining interest rates include:
- Your credit score
- Your income or ability to repay the loan
- The length of the loan term
- The trade-in value of your vehicle
Generally speaking, if you are a high-risk borrower, the lender will charge a higher interest rate for the loan.
Can I get a title loan on an old car?
Whether or not you can get a title loan on an old car depends on how well your car holds its value and the lender’s policy. Most title lenders list restrictions on vehicles they accept as collateral, including model-year restrictions and mileage restrictions.