Frequently Asked Questions
At Cash-N-Go, we understand that taking out a title loan can be confusing and raise a lot of questions. We have worked hard to make the title loan process as simple as possible, but have included a list of frequently asked questions below for you to review. If you have questions that you may not see below, please contact our Phoenix title loan office for further information.
What is an auto title loan?
An auto title loan is a personal secured loan, that is based on the value of your vehicle. The loan is secured by your vehicle as collateral. The lender is listed on the vehicle’s title as a lien holder. You get to keep driving the vehicle while you are paying off the loan, just as you would if you were making payments on a regular financed car purchase. An auto title loan is often confused with an auto pawn loan, but they are different in the regard that a pawn loan requires the customer to leave their vehicle with the pawn shop with the loan is being paid off.
How long does it take to get a title loan?
At Cash-N-Go, we make the entire process simple and easy! The application process only take a couple of minutes whether you do it online or over the phone. You will then receive a call with approval confirmation once the application has been reviewed. Once you bring the car to one of either our Phoenix title loan office or Glendale title loan office your paperwork will be processed and your car inspection will be completed. Then, funds will be issues to you in as little as thirty minutes!
Do I get to drive my car during the auto title loan?
Yes! With an auto title loan from Cash-N-Go you get to keep our car while paying off the loan.
Does my car need to be paid off to get a loan?
No. If the vehicle only has a few loan payments remaining on it, whether it be a car title loan with a different company, a bank loan, or dealership financing, you may still be able to get an auto title loan. Cash-N-Go will pay off the existing loan and get you the extra money you need.
Do you charge anything to see if I qualify for the loan?
Nope! The title loan process starts with determining how much you are qualified for. Simply fill out an application and our title loan specialists will work with you to see how much you are qualified for and help determined how you would like the loan to be structured. Click here to get started!
What is required for an auto title loan from Cash-N-Go?
- Arizona title (with lien release if applicable)
- Current Arizona registration
- Proof of insurance (loans over $2500 need full coverage)
- Valid driver’s license
- Proof of residence (current utility bill, mortgage statement, lease with another piece of mail confirming lease address, or four pieces of mail dated in the last thirty days)
- Proof of income (recent pay stub, direct deposit, award letter, co-signer’s income, or if self-employed a recent bank statement)
- If you have a co-signer on the loan, we’ll need an application from them as well as their driver’s license, proof of residence, and proof of income
- Spare key (if costly, this can be waived)
- Four to five references (not living together, only for emergency)
- Vehicle for inspection
- Come in at least one hour before close to get the loan funded on the same day.
Do I have to bring in the car?
Yes, we need to appraise your vehicle. The loan amount that can be offered is dependent on the condition of the vehicle.
How are the loan proceeds given to me?
The loan proceeds will be issued as a check that can be deposited into your bank account. Or, you can take the check and cash it at any Bank of America location.
What payment options are offered?
There are several payment options available. Loan payments can be made via mail, phone, or internet using a debit/credit card or electronic check. You may also set up monthly automatic electronic debits from your checking account on pay in person at one of two Valley locations.
When is the first payment due?
Typically the first loan payment is due around 30 days after the title loan has been funded.
Will I get a bill every month?
Yes. You will receive a monthly statement from us. It will show your payment amount due as well as your balance. We accept multiple payment methods to make it easy to pay your bill.
What if I can payoff my loan before the loan term?
We allow you to pay off your loan at any time without a prepayment penalty.
What happens if I don’t make my payments on time?
It is important to ensure you make your payments on time every month. If for some reason you are having difficulty paying back the loan, it is important to be in communication with our office. We will make every attempt to work out payment arrangements with you. If payments have stopped and you are not responsive, there is a possibility that the vehicle could be repossessed. Repossession is a last option and could negatively affect your credit score.