PLEASE READ THIS IMPORTANT INFORMATION BEFORE YOU APPLY FOR AN AUTO TITLE LOAN FROM PHOENIX TITLE LOANS
Auto Title Loans, Car Title Loans or Pink Slip Loans are SECURED LOANS in which you would use your clear vehicle title as collateral. By accepting an auto title loan from Phoenix Title Loans, LLC, you are allowing us to place a LIEN on your car’s title which means that you will surrender your title over to us in exchange for the loan amount that you receive.
We emphasize this: it’s important that you fully understand how auto title loans work. This important information explains your obligations, our policies, and the loan structure. You will be required to sign a Loan Agreement clearly showing the amount borrowed, the Annual Percentage Rate (APR), the amount of interest and fees charged, and the payment terms. Once you repay your loan, the lien is released, and your car’s title is returned to you.
Phoenix Title Loans strives to maintain important levels of transparency during the entire process. If anything in this important section is unclear, you are encouraged to reach out and ask questions. Our goal is to be your trusted title loan lender in any situation—especially in important financial moments—and we remain committed to serving customers in Phoenix, Tempe, Mesa, Scottsdale, and surrounding Arizona cities.
We’re available for important portions of the day at most of our locations, and you’re always welcome to walk in and discuss your loan options with a team member. We know how important in-person consultation can be when you’re dealing with financial pressure.
YOU NEED TO KNOW that AUTO TITLE LOANS are intended for short-term financial relief and SHOULD NEVER BE CONSIDERED as a long-term financial solution. The fact is that Auto Title Loans may be one of the more expensive borrowing options available to you. Phoenix Title Loans, LLC encourages you to review Federal, State and Local laws governing auto title loans and to understand some of the risks that might be involved. You are also urged to look into other possible loan alternatives that might be available.
If you are having credit or debt difficulties perhaps you should seek credit or debt advisory help or possibly credit counseling.
CREDIT
Phoenix Title Loans, LLC will not run your credit to determine your qualifications for an Auto Title Loan, Loan Amount or Interest Rate. You should also know that we do not report your payment history to the credit bureaus so your auto title loan will have no impact either positive or negative on your credit score.
But we do ask you to understand that we may take necessary steps to verify the accuracy of the information you provide including, but not limited to, clear title, social security number, verification of employment, driver’s license number, National and/or State identification.
FINANCIAL ASPECTS/RENEWAL POLICY
As stated earlier, our auto title loans are considered and should be used as a short-term financial relief. A title loan is primarily a 30 day interest only loan. The only fees that are associated with obtaining an auto title loan is a $20.00 Lien Transfer Fee. You can choose to pay off your car title loan at any time by paying the principal and interest that had accrued for the time you held the loan. With an auto title loan through Phoenix Title Loans, LLC there are never any fees or penalties associated with paying off your loan early.
Should you need more time to pay off your loan, you can choose to renew your loan for another 30 days with no fees.
COLLECTION PRACTICES
If you are unable to pay your loan in a timely manner or fail to renew your monthly interest only payments, we may pursue your payment through collections which could make you responsible for additional legal fees, court costs and repossession of your collateral vehicle under the provisions of A.R.S. Title 47, Chapter 9. Our collections practices are subject to the Fair Debt Collection Practices Act which may include calling your home or place of employment , voicemail messages, notices by mail, door to door and in some instances by e-mail.
DISCLOSURE: Loan amounts, terms, and rates vary by applicant and are subject to final approval. Not all applicants will qualify for the maximum advertised amount. All loans are secured by the value of your vehicle, which must be titled in Arizona and owned free and clear, unless otherwise stated.
Representative Example: A $2,000 auto title loan with a term of 12 months and an annual percentage rate (APR) of 35.99% would require 12 monthly payments of $200.96, for a total repayment of $2,411.52. All applicable fees and finance charges are included in the disclosed APR. This representative example is typical of a preferred loan with 25% Loan-to-Value ratio, $5,000 loan amount minimum, and a credit score of 700 or higher. Actual loan terms may vary based on vehicle value, requested loan amount, repayment ability, and applicable state regulations.
Early repayment is allowed at any time without penalty. Paying off your loan early may reduce the total cost of borrowing. Borrowers may be eligible for interest reductions when loans are paid off within an early payoff window, where applicable. We do not require a credit check for most auto title loans; however, all applicants must demonstrate the ability to repay the loan. Proof of income may be requested for underwriting purposes but is not always required for approval.
Approval times may vary and are subject to identity verification, vehicle inspection, confirmation of clear title status, and review of all required documents. While many loans are funded on the same day, some may require additional time for processing.
Phoenix Title Loans, LLC complies with all applicable federal and state lending regulations, including but not limited to the Arizona Revised Statutes Title 6, Chapter 5 and Title 44, Chapter 2.1, the Truth in Lending Act (TILA), and the Equal Credit Opportunity Act (ECOA). We are committed to transparency, fairness, and the responsible servicing of every loan. For borrowers who prefer to communicate in a language other than English, translated disclosures may be available upon request.
