If you’ve never researched or used car title loans in Tempe, you might have a lot of questions about how they work. They are a unique kind of loan, and they differ from bank or credit union loans with the type of collateral used, as well as from pawn shops in what happens to your collateral. Title loans have their own rules as well as their own benefits, and the best way to be happy with the outcome of your loan is to understand fully what you are getting into before you sign up.

Car Title Loans in Tempe

Car title loans in Tempe rely on having collateral to back the loan you need. If you get a second mortgage on your home, you are using your home as collateral— and the bank can take your home if you don’t pay the loan. If you get a signature loan, the bank is relying on your credit score. They are saying you have a proven track record of repaying loans and paying your bills on time, so they trust you. If you go to a pawn shop with your vintage Victrola, the pawn shop holds that until you repay the loan.

With car title loans in Tempe, you continue to have the use of your car as collateral, and unlike a pawn shop, they don’t keep your car—you do. You bring in the vehicle, along with your title or registration, and we value the vehicle. We also look at the income from your employer to ensure you can make payments on the loan. We determine the value based on the age, condition, and make and model, then we loan you money against the value of your vehicle and your ability to repay the loan. Then you drive away with a check! That’s it. If you don’t repay the loan, we will own your vehicle, just as a bank does with a mortgage loan, but unlike a pawn shop loan, we don’t keep your collateral while you pay back the loan: you do.

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