Is it Possible to Get a Title Loan Without Clear Title in Arizona?
The answer is yes, it is possible to get a title loan without a clear title in Arizona. However, there are some nuances to keep in mind! Some lenders will reject your application if you do not possess a clear title free of any liens. But, you may be able to find another lender who will work with you. You can potentially refinance your current loan with a new title loan if you have a lien on your car title!
As long as you have a car with enough equity and have the ability to repay a loan, you may qualify for a title loan without a clear title in Arizona. Keep reading to learn more about how it’s possible to earn quick funding through a car title loan online or over the phone.
How Can I Get a Car Title Loan Without Clear Title in Arizona?
For those who don’t know, a clear vehicle title is a title that indicates the car owner has no outstanding financial burden on the car or any liens on it. A lien is the lender’s legal right to the asset used as collateral, which in this case, is a vehicle title.
Typically, a clear title is the only way a person can be eligible for an auto title loan in Arizona. However, there’s still a way to do it!
Suppose you currently have a title loan, which is the cause of the lien on your car title. In that case, you can refinance that existing loan with a new title lender! You must fill out an application in order to apply for a car title loan without a clear title in Arizona. You can easily sign your loan agreement if you are approved for refinancing. Essentially, what can happen is that your new lender could help you refinance your existing loan and replace it with a new one. The new lender helps you pay off your current loan, and then you will have a lien-free title!
Similarly, if you are still financing your vehicle, you can apply for title loans even if you do not have a clear title. Some lenders are willing to pay off your existing auto loan, leaving you free and clear to get approved for a car title loan with them!
Another option is to take out a second lien title loan if the lender offers it to applicants.
If you’re still unsure you’d qualify for an Arizona car title loan, you can always reach out to a title lender and apply. Typically, title loan agents could answer any of your questions and walk you through the application process.
How Do I Know if My Vehicle Has Enough Equity to Get an Auto Title Loan Without Clear Car Title in Arizona?
As you may know, if you have a qualifying vehicle with enough equity, you can get a title loan without a clear title in Arizona. But how can you determine your car’s current equity amount?
A vehicle’s equity is the difference between the vehicle’s market value and the amount still owed on the loan. Calculating your car’s equity is as simple as comparing its current value to the amount you still owe on it. If your vehicle is worth less than the amount you still owe on it, then the car has negative equity. However, if your car is worth more than what you owe, it will have positive equity.
While you can manually calculate your vehicle’s equity, it may be a lot to do on your own. But some title loan applicants can opt for an easier option by using an online calculator tool provided by their lender! No matter which assessment tool you use, it could be simple to utilize if you provide some basic information about your vehicle, such as its make, model, style, year, condition, and current mileage. Once you input the details from your car, you could receive a rough estimate of your vehicle’s equity and determine if it’s enough to warrant a loan.
Remember, if your car is without a clear title, you could still qualify for an auto title loan in Arizona! Speak with your title loan lender or provider if you have questions.
Where Can I Apply for a Title Loan Without Clear Title in Arizona?
If you have a car but don’t have a clear title, you could still get the money you need for an emergency! You can apply online or over the phone today.
The most important thing is to make sure the lender is willing to work with you, regardless of how you decide to get car title loans. If you qualify, you could get money as soon as the next business day if you find a convenient lending option!