What is a Personal Loan?
Personal loans are based on credit and income. If needed, collateral can be used to qualify. They are a great choice for vacation, fixing your car, home improvement, or paying down debt. Personal loans are added as another line of credit to your credit report. Making on-time payments will build your credit whether you have good or bad credit.
These are closed-ended installment loans. Each payment contains a portion that goes to interest and a portion that goes to principle. At the end of the loan, you will have paid the complete balance off. Interest rates for these types of loans are also capped at 36% in the state of Arizona; which is 3% monthly. This is why these loans are more attractive than auto title loans and registration loans; where their interest rates range between 100% to 207% annually.
How Long Does It Take to Get a Personal Loan?
It can take up to 15 minutes to fill out an application and get you pre-approved for the loan. Then its only a matter of minutes to sign your contract and hand you your money. If you are in a hurry, we can work out a time best for you. There is no pressure when working with us. We want to ensure you have all the time needed to ask all the questions you have.
What if I do not have good credit?
If you do not have good credit, try our auto title loan product. We report credit on title loans as well and can help you get into a personal loan faster.