Convenience is a major title loan selling point, and that means most title loan borrowers won’t want to take a lengthy drive just to reach their lender’s office. When you look for title loans Surprise, it’s frustrating to see a bunch of lender listings for title loan companies located elsewhere. Fortunately, the Centerway Financing office is right here in Surprise. It won’t take you long to reach us from anywhere in the city, whether you come here on the highways or surface streets. And finding a place to park isn’t difficult, either.
When you arrive, the process of getting your loan money typically takes well under an hour. Here’s how it will go:
Sooner or later, everyone runs into some sort of costly emergency. This could be your car breaking down, a home appliance failing or an unexpected medical issue. If your income hasn’t allowed you to save up an emergency fund and your credit score isn’t the best, you could be left wondering what to do. That’s where title loans Surprise can give you the financial boost you need to get back on your feet. A title loan is a loan against the value of your car, and if you own a car that doesn’t have a lien on the title, you can obtain a title loan in short order.
The fast application process for a title loan is one of the things borrowers appreciate the most. Here at Centerway Financing, our goal was to make that process even quicker, simpler and more convenient. To do that, we made an efficient online title loans Surprise application. You can go to the application here on our site by clicking the Apply heading, and the application itself is an easy two-step form.
The first part of that form will have you make a few drop-down menu selections to input the following details about your car:
The second part of the form will ask you to type in the following details about yourself:
Once we’ve gotten that, we have all the information necessary to issue your title loan preapproval and provide your title loan quote. A Centerway Financing representative will also be following up with you as soon as they have a moment to provide more information.
You may be curious what you’ll need with you when you come to our office to get your loan. There are only three things necessary, and you likely already have the three of them anytime you go for a drive. We need to check your ID and take a look at your car. After that, we need to get your car title until you’ve paid back your title loan.
There are several rules and regulations to understand when it comes to title loans. The only relevant federal law is the age minimum of 18, which is the reason we need to see your ID before we can let you take out a title loan. Besides that, title loan regulation is done at the state level. Arizona’s laws cover title loans Surprise.
There isn’t a maximum title loan amount in Arizona, which means that depends on the worth of your car. The maximum interest rate correlates to the amount of your loan. Here’s how that works:
Arizona doesn’t put any restrictions on title loan terms, meaning there’s no state minimum or maximum on the term length. The most common term length for a title loan, both in Arizona and most of the country, is 30 days.
You’re expected to pay off your title loan at the end of the term, but if you can’t because money’s still a bit tight, the alternative is to extend it. How does that work? You just need to pay any loan interest. You don’t need to pay any of the loan principal, and you can start a new term with that. Note that the new term will have a new interest charge. Although a loan extension costs more, it’s a better option than a default on a title loan.
Since your car is the title loan’s collateral, defaulting on the loan means the lender can repossess your car. It needs to get a court order to do this. Once it has that, it can take your car and sell it.
If your car gets sold by a title loan lender and the amount of the sale is less than what you owed, then you are still responsible for the deficiency balance. On the other hand, if your car’s sale amounts to more than what you owed, the lender must send you the surplus balance.
Repossession doesn’t happen often when it comes to title loans, and you can avoid it with communication and by extending your loan when necessary.