Payday Loans Online in Phoenix, AZ.

Phoenix, AZ, residents who are strapped for cash may turn to alternative lending products to address their needs. Unfortunately, payday loans are not legal in Phoenix. However, installment loans are permitted and can offer financing options during an emergency. We outline the lending laws in Phoenix so that you can make financially sound decisions.

Regulations of Payday Loans in Phoenix, Arizona

Since 2010, payday lending in Phoenix, AZ, has been prohibited. As a result, residents seeking short-term, small-dollar financing won’t have many options in the state. Regardless, financial emergencies occur, and many consumers may require fast funding solutions. Instead, Phoenix consumers can turn to installment loans to address their financial emergencies.

Installment Loans in Phoenix

Luckily, Phoenix consumers who need emergency funding can opt for installment loans. Consumers can request between $1,000 and $5,000. These loans range between 90 days and 36 months. Additionally, APR is capped at 36%.

Consumers in Phoenix can repay their loans earlier without facing any prepayment penalties.

Advantages of Taking Out Installment Loans in Phoenix

Sometimes you may lack the necessary financing when faced with a financial emergency. As a result, Phoenix residents may opt for an installment loan to get quick and hassle-free access to funding. This financing solution may provide consumers with an opportunity to pay for rent and other emergency expenses.

Here are three of the perks offered by installment loans:

• Flexibility. You don’t necessarily need to provide an excellent credit score to get your approval from a Phoenix lender. Some lenders may be willing to work with consumers who have less than stellar credit. This is because they may consider income when determining eligibility.
• Convenience. Apart from brick-and-mortar lenders in Phoenix, you can also turn to online installment lenders. These lenders offer a convenient solution to consumers. You can submit a request online from the comfort of your home.
• Fast Access. Unexpected expenses, such as medical and maintenance bills, may emerge at any time. Thankfully, you can turn to an installment loan provider to enjoy quick access to financing. In Phoenix, lenders offer easy and fast loan request processes. If approved, you may receive funding in as little as one business day.
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Installment Loan Requirements

When requesting for an installment loan in Phoenix, you’ll be required to:

• Be 18 years old
• Be a U.S. citizen or permanent resident
• Show your stable income source

The lender will require the following personal information:

• Name
• Address
• Contact information
• Social Security number (SSN)
• Employment history
• Banking information

Requesting Title Loans in Phoenix

Title loans are also another financing option besides payday loans in Phoenix. Arizona does not have a limit on how much a consumer can request. However, the loan amount will depend on the vehicle’s appraised value. Typically, title loans have a 30-day term.

Interest fees for title loans in Phoenix depend on the loan amount. As a result, the APR will be:

• 15% for loans between $500 and $2,500
• 13% for loans between $2,5000 and $5,000
• 10% for loans exceeding $5,000

Our Favorite Phoenix Lenders

Speedy Cash

Speedy Cash has 10 locations throughout Phoenix, AZ. The lender offers title loans, lines of credit, and installment loans. Your qualified amounts can range between $200 and $25,000. Standard APR fluctuates between 100% and 500%. Prospective consumers can complete a request online or in-store.

Spotloan

Spotloan is an online lender offering short-term loans. The loan amounts range from $300 to $800. Your APR with Spotloan can reach up to 490%. Spotloan belongs to Online Lenders Alliance (OLA) and Native American Financial Services Association (NAFSA) and carries an excellent rating with Trustpilot.

Check Into Cash

Many lenders are limited in product and service offerings. Therefore, Check Into Cash can be a great alternative if you are looking for a wider range of options. Check Into Cash offers title loans, lines of credit, check cashing, and money orders. Additionally, if you prefer to complete your loan request in-store, Check Into Cash has two locations in Phoenix, AZ.