Arizona Title Loans: Everything You Need To Know


Arizona was among the hardest hit states in the country during and after the financial crisis of the past decade. Only Nevada recorded a greater loss in jobs than Arizona. Corporations based in many states may have lost more money, in market cap or liquidity, but ordinary Americans were most affected in Arizona and Nevada. This is also a reason why these two states have taken such a long time to recover. Growth rates across many states swung back from their post recession lows in two to five years. Arizona took almost ten years to witness a substantial recovery.

The Purpose of Title Loans

2016 and 2017 have been moderately encouraging years for the economy in Arizona. The healthcare and real estate sectors are on a path of resurgence. The finance and service sectors are employing more people and it is being anticipated that retiring baby boomers will pave the way for enough vacancies that will resolve the unemployment crisis in the state. However, the banks are still holding onto their stringent grip and are yet to adopt lenient lending policies. The housing market has not recovered to its pre recession state. There are many who do not have enough cash on them and are hence looking for title loans to pay their debt or to take care of their monthly bills.

According to online lender titlelo, “auto title loans have become an obvious choice for Arizonians looking for a short-term secured loan”. Payday loans and other unsecured loans charge too heavy an interest and it defeats the whole purpose of trying to manage debt and control expenses. Title loans using a vehicle as the security are a more pragmatic option. These loans are licensed and regulated in the state of Arizona. There is a state law supplementing the federal law. There may be local laws in certain counties and cities that further supplement the state law.

Arizona Title Loan Laws

Title loans are offered by lenders that are known as secondary motor finance companies in Arizona. The state law mandates that the total interest a lender can levy on a borrower should not be more than 17%. If the value of the loan or the loan amount is up to $500, the rate of interest cannot be more than 15%. For loan amounts ranging from $500 to $2,500, the interest must be a maximum of 13%. For title loan amounts greater than $2,500 but less than $5,000 and a maximum of 10% for loan amounts greater than $5,000.

If you are being charged a higher rate of interest for the given loan amount according to the caps assured by law, you can take legal action against your title loan lender. Title loan lenders can cease and possess your vehicle should you fail to repay or not pay the entire loan amount along with the accrued interest. However, the lender must get an appropriate order to that effect from the court. You can always ask the repo for such a legal document before you permit the seizing of your vehicle. This does not mean your vehicle will be sold straightaway. You can work with your lender, ask for some more time, repay the remaining loan amount with interest and reclaim your vehicle.

Repossession and Extension

All title loans must be executed only after the whole agreement is put in writing and both parties understand all the terms. There should be no confusion or concealment of any facts whatsoever. Borrowers have the right to ask as many questions and they can seek as many clarifications as desired. The lender has the right to seize and sell the vehicle after the term and if the loan is not repaid. The lender has the right to keep any profits from the sale. If there is a shortfall, then the borrower may have to pay the balance. Should a borrower work out a deal with a lender wherein the former will pay the remaining loan amount with interest and repossess the vehicle, there could be additional expenses to be paid that the latter would have incurred in seizing and towing the vehicle. Any such agreement between the lender and borrower with both parties agreeing to an extension should also be executed in writing. No verbal agreement is legal for title loans in the state of Arizona.

Helpful Resources

How to Write a Winning MBA Application Essay?

How to Write a Winning MBA Application Essay?

In this article, we are going to discuss what makes an MBA essay good. Also, we are going to talk about how to create such an essay and how to win a competition among hundreds of other students who want to study at a business school. Follow these tips given by experts and create a prosperous essay!

Becoming a master of business administration requires a lot of skills. Since modern youngsters become more and more interested in business, how to build up a business and lead it, there is a great competition between students who want to get an MBA degree. To become a student of a business school, you need to write an MBA application essay, and it has to be successful in order to pass the admission process.

Five Tips for Creating a Successful MBA Essay

Usually, all business schools require a set of skills and knowledge that allow them to choose the best students. One of the most important things is to be confident when you are writing an application. Review the following five recommendations that will help you write an amazing MBA application:

  • Leadership.  The first and main skill you need to demonstrate through your essay is leadership. As long as this skill is necessarily required for building and leading any business, you need to show and prove your ability to become a leader, and grab attention. In your MBA essay, you should describe your experience when you were a leader. You will have to explain what you learned through this experience and how you overcame difficulties in reaching objectives. Be specific and name the company you did your project for.
  • Personal growth. This is the second important skill a successful MBA requires. You have to describe how you have changed during the past years and how you want to improve in the future. List your goals and explain how you want to achieve them. Think of the traits that you have and those that you gained to help you grow personally and professionally. This way, you will allow the admission committee to find out more about your personality and understand your business prospects for the future.

Think how you imagine yourself in the future, and write a few paragraphs about your ideal future career and achievements, and describe what you need to do for making it real. Review the connection between your future goals and the MBA program to prove that you deserve to become a student of that business school.


  • Release your plan. The examination committee will definitely want to see your plan. So, you have to be as specific as possible and release your plan. Describe the position that you would like to hold. You can even name a specific company if you have one on your mind. Describe what you would like to do, how you see yourself among a team of professionals, etc. Conduct research before you start writing an application to give information on the companies you would like to work for and why they attract you.



  • Do not talk but show. A skill to talk well and be persuasive is great for a leader but what makes a good leader is the ability to show and inspire. So, instead of just saying that you have been participating in a project and it was useful, name the company and the people, so that your experience can be admired. Do not be shy to sound too confident, add all the information about your business experience which will be great to know.



  • Write early.  As we have already discussed at the beginning of the article, writing an MBA essay is a tough task. So, it is recommended to start as early as possible so that you have time to polish your paper before giving it for examination.


More Tips On Writing a Winning MBA Essay

Remember that an essay is all about you. Do not focus on other people or objects in your paper. It is all about who you are and what you want. It will be great if you research the school you want to join so that you can explain why you have chosen this specific school and why in your opinion you will gain knowledge and skills that will benefit you in the nearest future.

Financial Emergency? GoFundMe to the Rescue

GoFundMe Help

Disaster often strikes when you least expect it. Then, your left with a financial emergency, and may not have many places to turn to for help.

Sure, you could try getting a loan, but that leaves you with debt. And, if you’re already short on funds, is that really wise?

Instead, there’s an online resource might be your ideal answer. It’s called GoFundMe. Continue reading