Get a Title Loan in AZ Even with a Lien on Your Car


Obtaining a car title loan in Arizona or Nevada is a relatively easy process—even if your car title already has a lien on it. You are eligible for a car title loan on any of your vehicles or any type of motor vehicle. So, instead of selling your car for quick cash it might be worth your while to pursue a secure title loan—whether you have a lien on it or not.

The Importance of Title Loans

A title loan is actually, in many ways, an important asset you may not have even considered. It provides the opportunity to borrow quick cash against the value of your car. If you are confronted with a financial emergency of some kind or thinking of consolidating your debts and catching up on your bills, rather than selling off the family jewels, so to speak, or other valuable assets you may own, a title loan is something you should consider. Rather than applying for a traditional loan, it provides the borrower a hassle-free, quick and easy short-term solution to a long-term problem.

Car Title Loans

A car title loan – or more precisely, an auto title loan – is a secured loan where an asset of monetary value that you own can be used as collateral to secure a loan equal to the value, its equity. The equity of your car is the difference between the amount you owe on it and the amount the car is worth. With a car title loan, the owner uses his or her vehicle as collateral. In other words, a car title loan is a short term cash loan against your motor vehicle. You can use trucks, cars, motorcycles, your delivery van, even your RV—any vehicle you own with a title.

What Is a Lien on a Car Title?

A car title is a form of property, and with it comes an amount of value equal, the equity, of the car. A lien on your car’s title means that a lender has given you a loan using your car or vehicle as collateral. With that loan the lender has the right to keep possession of the car title (your property) until the loan on it is paid in full. The title remains in your name. However, the lender who placed the lien holds the original title and has the legal rights to the vehicle. The purpose of a lien on a car title is to ensure payment is received on the loan as stipulated or if not the lender can legally take possession of the vehicle to sell for repayment on the loan.

Getting a Title Loan on a Car with a Lien

If a lien is on your car title, the original copy of your vehicle’s title is in the possession of the lender. If you need more funds than you originally thought, or you simple are not happy with the terms from your current lender, there is an option open to you. In Arizona or Nevada, you can refinance your title loan through another lender. A refinanced loan could mean better interests rates or other repayment terms more favorable to you, the borrower.

To receive a title loan that already has a lean on it the lender reviews each application on a case-to-case basis. In general, the lender will need to know how much the borrower has to pay on the current loan and compare it to the equity in the car. If the equity is more than what is owed on the car, the borrower is set to receive a loan equal to the equity on the car minus what the lender has to pay to the current holder of the title. In other words, if you have $3,000 in equity on your car, and owe $1,500 on a car title loan, you would be eligible for a $3,000 loan. Half of that amount would go toward paying off the current loan and the other half you would receive in cash.

Tio Rico offers a seamless, quick, and easy opportunity to secure a title loan in AZ. Use the title as collateral to get the funds you need or require. If there is already a lien, we will review your case and work to refinance the title for you. Essentially, the available amount of funds you will receive will be determined by the equity you have in your vehicle. You can apply for a title loan in AZ online, over the phone, or at stop by one of Tio Rico’s convenient store locations in the greater Phoenix area.