Arizona Title Loan Laws

There are a few laws and regulations to go by when taking out an Arizona title loan that may vary from other states, so it's important to know the requirements so that you are able to efficiently meet them when obtaining your own loan. In this article, a few of the guideline requirements regarding title loan laws will be mentioned in order to help you remain within the guidelines of the law should you ever need to obtain a loan on your vehicle, when you are in need of fast cash for emergencies!

    The Arizona Laws are regulated by the state of Arizona, and normally fall under what's called the Arizona Revised Status, or ARS. Companies that offer loans are not allowed to impose or accept an interest rate that exceeds 17% for loans under $500 according to the ARS 44-291.

    In Arizona, sliding scale curriculum is implemented, and allows loan amounts that range from as low as $500 to a high of $2500 to have limited finance fees of 15% or less. Any loan amounts ranging from $2500 to $5000 are capped at 13% interest, and any loan over $5,000 have 10% interest.

    There are no specific rules, regulations or laws specific to many of the cities in Arizona, but they for fall under state laws and federal regulation, making them impossible to legislate around.

    It is also required by Arizona State Law to present a valid identification and an Arizona vehicle title belonging to the owner of the vehicle you wish to take a loan out on, as well as being at least 18 years of age.

    Car title loans in Arizona allow you to make affordable monthly payments will be made in order to pay off the debt, and in the meantime, once you've obtained the loan, though you may maintain your vehicle, a lien is put on the title. Once you've paid the loan off in full, the lien is removed from the car title, and full ownership is returned to you.

These guidelines of some of the Arizona title loan law requirements will help you be prepared should you ever need to use this method of loan, a trustworthy loan company should be able to help you to receive the cash you need quickly through a title loan, as well as assist you in being able to remain in compliance with the Arizona laws!