In case you haven’t heard, payday loans are no longer legal in Arizona. Operation Sunset ended the payday loan industry in all of Arizona, including Phoenix. With that in mind, payday lenders shifted to other cash advance and installment loan options for people who need cash for emergencies. Payday loan lenders in Phoenix shifted to offering title loans and registration loans instead.
While you won’t find a traditional payday loan in Phoenix, a registration loan is just as easy to get and ensures you have the cash you need for emergency expenses. Here are five of the best payday loan lenders in Phoenix who offer this alternative to an Arizona payday loan.
1 Stop Title Loans
At 1 Stop Title Loans, you get up to $10,000 cash the same day you apply, providing your application is approved. If you have a clean title to your car, apply for a title loan. Otherwise, a registration loan replaces the payday loan in Phoenix offices. You borrow the money you need, even if you have a lousy credit score, and get to use your car for the duration of the loan. If you’re able to pay off your loan early, don’t worry about pre-payment penalties. Most loans are complete within half an hour, so it’s a quick and easy way to get cash for emergency expenses.
ACE Cash Express
Title loans replaced payday loans at ACE Cash Express in Phoenix. Borrow the money you need by using your car as collateral. There are five Phoenix cash advance loan offices, including one on North 27th and one on North Cave Creek Road. Borrow as much as $2,500 from any of these locations and be prepared to provide proof of income, a current bank statement, your car’s title, and a photo ID.
Cash 1 Loans
Cash 1 Loans offers installment loans for as much as $50,000. If you have the title to your vehicle, you’ll use it to qualify for the installment loan. If you don’t, apply for a title equity installment loan in Arizona. With a title equity installment loan, you can borrow up to $2,500 using the value of your car, even if you still owe money on it. Find Cash 1 on East Bell, East Camelback Road, East Southern, East Thomas, West Bell Road, and West Northern.
Checkmate Cash Loans
Checkmate Cash Loans has multiple locations in Phoenix. To get a registration loan, visit a local office. Options include East Warner Road, North 19th, North 32nd, North Cave Creek Road, South Central, West Lower Buckeye, West Peoria, and West Thomas. Use your car as collateral for a short-term cash advance, even if you still owe money on your car. Repay your loan at the local offices or online if that’s more convenient.
At Speedy Cash, payday loans have been replaced with Express Title Loans. Use your vehicle’s VIN and borrow as much as $1,500. A clear title is unnecessary, and they don’t require a vehicle inspection. If you have the required documents like a photo ID, SSN, bank account, and VIN, loans can be approved instantly. Plus, you get 24 months to repay the loan. Head to East Bell Road to Speedy Cash’s Phoenix office.
Title loans require you to have a clear title to your vehicle. You borrow against the value of your car. This isn’t an option with everyone. That’s why payday loan lenders in Phoenix switched to registration loans. You don’t need a clear vehicle title. Instead, you provide your vehicle’s registration or insurance card, proof of income, and current bank statement. After proving your identity using a photo ID, you borrow the cash you need, just as you would with a payday loan in Arizona.