The Factors Keeping You From Qualifying For Arizona Title Loans Online
Arizona title loans online are known for their easy-to-meet criteria, making them super simple to qualify for. That said, there are certain things that can prevent you from qualifying, such as failing to submit a lien-free title or asking for more money than your vehicle is worth.
In the following sections, we'll detail the top four things preventing you from gaining approval for online title loans in Arizona. We will also discuss the steps you must take to qualify with one of our direct lenders.
4 Things Preventing You from Qualifying for Arizona Title Loans Online
1. You're Asking For More Than Your Vehicle's Worth Allows
Your car, truck, or van needs to hold enough value for title loan lenders to approve you for the amount you want. If you're asking for far more than the car is worth, you won't qualify. It's as simple as that!
We recommend taking the time to not only calculate how much you really need to fund your emergency, but also the value of your vehicle. Otherwise, you risk application denial during the process.
Our highly regarded direct lenders use the following factors to determine your automobile's worth:
- Your car's condition — Our lenders consider the mechanical and cosmetic condition. Things like bumps, dents, scratches, and even stained interiors can significantly impact the value.
- Your car's mileage — With more miles comes increased wear. So, the further you've driven your vehicle, the less it's worth. However, it's age-dependent. For example, a two-year-old car with only 6,000 miles on the clock is considered low mileage and, thus, may increase its value.
- Your car's modifications and color — Our lenders prefer unmodified cars because they can damage the vehicle's overall value. Even though it has nothing to do with the car's operations, the color plays a pretty big role in its ability to resell.
- Your car's make and model — Vehicles from luxury brands with top-end features and sports packages are always worth more than cars from standard manufacturers. You stand a good chance of getting approved for the maximum loan amount with a premium vehicle. But as we alluded to earlier, that doesn't mean you should request the maximum.
2. You Can't Prove Your Ability To Repay The Loan
Some lenders require proof of income for approval. If you cannot show sufficient funds to make repayment then the lender may deny your application.
3. You Have Submitted A Vehicle Title With Issues
This is perhaps the most common mistake — people submit a title document littered with problems, consequently resulting in denial.
If your vehicle title already has a lien in place, you can't use it to secure a title loan. It proves you don't own the vehicle outright, meaning someone else has a claim to your title if you default on repayments.
4. You Don't Have A Valid ID
If you are under 18 years old or don't have a government-issued valid (not expired) ID, you will not be able to move forward with the title loan application. Make sure you have these qualifications so that there won't be any hold ups to your loan.
How to Get Arizona Title Loans Online from Our Direct Lenders
Now that you can ensure you aren't hindering your own chances of getting Arizona title loans online, learn how we can help you access the money you need with this step-by-step title loan process:
- Start by sending us your request using the secure inquiry form on this website. Once that’s done, we will connect you with one of our well-established direct lenders, who will take over from here.
- They will give you a call as soon as we give them your connection request to discuss how much you can qualify for and your monthly repayment amount. You will also set up an appointment at this time. Our lenders usually suggest choosing your home or workplace.
- The representative will meet you there to deliver your loan packet, verify your car's VIN, and assess the vehicle's value to decide how much they can lend you (up to $15,000).
- If you are happy with the dollar amount, supply your physical signature on the forms they give you.
- After the meeting, they will email you the agreement and ask for an e-signature.
- Finally, they deposit the money into your bank account as soon as the next business day. In fact, some borrowers stated they received their money on the same day with our lenders! Although, this depends on the time of your request.
Get Arizona Title Loans Online Today!
As long as you don't apply for more than your vehicle is worth, own the car outright, and can afford to repay the amount you borrow, getting Arizona title loans online is easy.
Just submit our quick form to get connected with a direct lender well-versed in vehicle title loans. You can connect with them in a matter of moments.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.