What is a car title loan?
A car title loan is a secured loan that uses your vehicle as collateral. In this case, the customer borrows against their vehicle. The lender will use the vehicle’s value to determine your loan amount rather than your financial history or credit score. For example, if your vehicle is worth $10,000, then your loan amount can be up to $10,000. Now, you are probably wondering if you get to keep your car. Yep! You can continue driving your vehicle just like normal while making your loan payments. However, we will hold the vehicle’s title until the loan is paid off. If you happen to default on your loan, vehicle ownership will be transferred to Go Arizona Title Loans to cover the debt.