Title loan in phoenix: Myths & Misconceptions debunked

Title loan in phoenix cause unnecessary debt and bad credit issues.

Dublin, OH (prHWY.com) July 11, 2012 - "I will get ripped off" ; " there are loan sharks" - these are perhaps the most common reaction to car title loans. Without a doubt this title loan in Phoenix is helpful still myths and misconceptions exist.

Possibly all these myths and false conceptions have actually arisen owing to the malpractices of some loan sharks or due to misinformation about this particular form of financing. Arizona title loan is not a traditional loan and it stands as essentially the last resort loans and you need to consider this kind of funding when other conventional forms of borrowing become too difficult. As a matter of fact, the typical horror stories about predatory lending have somewhat augmented the case.
First things first - let us find out why do you need the title loan in Phoenix?

In case, if you have the required money streaming in still if you cannot prove it die to a number of reasons (for example, if you are a freelancer hence you cannot give proof to the lender that you do have regular paychecks), Arizona title loan can be of great help. Truth of the matter is, you need to do anything to qualify for this loan all that you need is to provide proof of income to qualify.

Myths vs. Facts

* Myth 1: Title loan in phoenix cause unnecessary debt and bad credit issues.

Fact: This kind f loan needs to be repaid on time or else you might get a bad credit rating.
* Myth 2: You need to avail the title loans from the first lender, whom you may come across.

Fact: that's wholly false. You are free to make an informed decision by exploring the market before you zero-in on any particular lender.
* Myth 3: The rate of interest on this kind of loans is low.

Fact: Typically the rate of interest charged varies from state to state, and to a great extent depends on where the lender is located. However the annual percentage rate (APR) on interest can vary from 36 to as high as 600.

To conclude, you need money fast and the Arizona title loan can thus put money in your hands often on the same day of your application!

This content has been taken from: http://www.newdesignworld.com/press/story/559289

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Tag Words: arizona title loan

Categories: Finance

Press Release Contact
Community Choice Financial Inc
7001 Post Road
Suite 200
Dublin, OH 43016
(602) 639-4500
http://www.phoenixcartitle.com/

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