How Does A Cash Advance Title Loan Work?

Written By Louis Tully

Published on August 31, 2023

Borrowing money through a cash advance title loan is an option if you’re struggling to make ends meet, but is it right for you? A title loan can be beneficial when used properly, but understanding your loan obligations is an important part of making an informed financial decision for yourself.

This is why it is important for you to know how this loan works when you come see us at Southwest Title Loans. Keep reading this guide to learn exactly how this loan works and if it is right for you!

What Is A Cash Advance Title Loan And How Should You Use It?

A cash advance title loan uses your vehicle’s title as collateral to secure the money. We place a lien on your title for the duration of the loan and hold onto it while you receive a lump sum of money – which can be up to $15,000.

Once the loan is fully repaid, we remove the lien and safely return your title to you. In short, a title loan from us at Southwest Title Loans is simply a secured loan that requires you to have a title in your name and a vehicle you have finished paying off.

Collateral is an asset put at risk by you as the borrower to demonstrate your intentions to repay the loan. As you can imagine, security is appealing to us since it gives us reassurance that we will make a profit on our money.

You as a borrower benefit, too, since you are able to use the security in the car title to borrow more money, even with poor credit. And you can use your vehicle while there is a lien against the title; just be sure to stick to the repayment schedule outlined in your agreement.

In the image, a lady and a man are seen having a discussion in front of a laptop, with pens and a notebook beside them,

Why Choose A Title Loan?

A cash advance title loan is useful in a number of ways because it was specifically designed to help you with your emergency expenses. Of course, if you can manage your expenses without borrowing money, it’s usually better to do so, but that ideal scenario isn’t always realistic.

Sometimes you get into situations that will only get worse if you don’t handle them as soon as you possibly can. As an example, here’s what our customers use title loans for:

Urgent medical bills
Home repairs
Rent or utilities
Emergency travel expenses

In the short term, a title loan can help you stay afloat financially while you look at the bigger picture. Expenses aren’t going to just go away, and ignoring them will only result in more cost later on.

As such, it’s worth considering borrowing as a way to alleviate your immediate financial stress so that you can focus on rebuilding your savings over time. Just make sure you don’t use this loan for any frivolous spending because that would not be using the loan properly.

What’s Needed For A Title Loan?

The next thing you need to know is what required items we need to see. As you can assume, there are certain requirements you need to meet and certain items we need to see before we can decide if you qualify for approval.

The good thing is our cash advance title loan has simple requirements. We don’t make you bring in a long list of items or meet crazy requirements. Really all you will need is the following:

Your driver’s license – Any state-issued ID like a passport, military ID, student ID, or non-driver’s license are accepted.
Your lien-free title in your name – Clear any liens from your title by paying your lienholder before you apply to get a loan.
Your car itself – Bringing your car is essential so that the representative can evaluate it. Make sure your title and car match if you have multiple vehicles!

The Simple Process To Apply

We make getting urgent cash at a moment’s notice easy. First, you’ll need to fill out our quick request form that you can find right on the homepage of our website. Once you do, expect a representative to call you back when possible.

They’ll review your information and explain what you’ll need to proceed. You’ll also set up an in-person meeting either at the nearest store in Arizona or a location you choose.

Whichever way you decide to have your in-person meeting, you’ll need to bring the above-mentioned items to the meeting – especially your vehicle for the quick inspection to determine its condition and resale value. After the associate has gone over your vehicle, they’ll assess whether you’re approved for the loan.

If you are, they will go over the loan terms and have you finish signing the paperwork. After you are done, you’ll receive your money the same day or the following business day.

The image shows a man and a lady teaching someone about how cash advance title loans work, with a laptop as a visual aid.

Register For Your Title Loan Today!

A cash advance title loan through us at Southwest Title Loans can help you with short-term cash flow, freeing up room for you to focus on financial recovery in the long term. Used properly, they can help you tackle unexpected expenses quickly.

Now all that is left to do is get started on the process! To do that, all you have to do is fill out the online form on our website to get in contact with the nearest store location in Arizona. Don’t wait any longer! Get the urgent cash you need today!

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.