What is the definition of a Title Loan?  

This is a quick financing resource that provides an opportunity to use the equity in your vehicle. The loan is secured by the placement of a lien on your title. Individuals that would not normally qualify through a Bank can easily qualify for a Title Loan using the equity in their vehicles.

 

What agency governs your business?  

We are licensed by the Arizona Department of Financial Institutions.

 

How long has your company been in business?  

Goldcrest Financial has been in business since 1987. We have provided a number of direct automobile lending programs. In 2000, the company entered into the Title Loan Business.

 

Do the payments I make reduce the principal of my loan?  

Yes, if you elected a fully amortized loan, or you can select a short term "Interest Only" loan.  The interest only loan provides for the lowest payment. Please speak with a representative to discuss the best option for you.

 

What extra fees are charged?  

None! We do not charge any hidden fees. 

 

When are payments due? 

All payments are due: They are due monthly. Your first payment will be due in 30 days from your loan origination. You can elect to pay semi-monthly, if this helps with your budgeting, but you ae not required to do so.  You can also make extra principal payments during the term of your loan.

 

Are you a member of the Better Business Bureau? 

No. We are no longer a paying member, but we do adhere to strong business principals.

 

Does your company accept personal checks? 

Yes. You may pay with a personal check drawn on a local Bank. The check must be imprinted with your name (no counter checks). We can not accept checks from friends or relatives, as this creates a problem if the check is returned. Return Checks will be assessed a $25 Return Item Fee,  and we may elect not to accept personal checks on your account in the future. Please note that Goldcrest Financial subscribes to CHECK21 Processing. Check images are captured on the date received and automatically submitted for processing. Your account is debited the next business day. 

 

Does your company offer Automatic Payment Deductions? 

Yes. please speak with a representive.  

 

Other Payment Options? 

You are always welcome to visit our offices and make payments in person. Our offices hours are Monday - Friday (9:00 a.m. - 6:00 p.m.). You can of course mail your payment. (Please allow two (2) business days for the payment to arrive at our office). We also provide a Night Drop for your convenience. The Night Drop is located in front of our office and is clearly marked.  Payments made through the night drop are posted the next business day. Please DO NOT deposit cash.  

 

Do I get to keep my Title? 

No. A new electronic title is processed and an electronic image of the title is retained until payoff.  When you payoff we logon on to our E-Title System and release the lien.  The MVD then mails you a title free and clear of our lien.   

 

What late fees are assessed in the event I am late with my payment?  

Prompt payments are important. A late fee of 5% of your payment, or $10 (which ever is less) is charged if you are more than 10 days late. The fact that you are not charged a late fee until after the 10 days does not give you approval to be late! If you are unable to make your payment as scheduled, you must contact our offices. Please contact a company representative to discuss your situation.

 

If I am going to be late by more than five (5) days what does your company require?  

We require that you provide us with a written Letter of Intent. The letter should specify a date when payment will be made. The letter is subject to approval and acceptance by our company. You can fax this letter to (602) 680-5479, or email the letter to customer service at:LOI@GoldcrestFinancial.net. In order to avoid miscommunication; we do not accept verbal requests. On-going and timely communication is critical to avoid adverse action on your account.

 

Can I reach your office after hours? 

Yes. We maintain a 24 hour voice mail service. If you are unable to reach us during regular business hours (Monday-Friday 9:00-6:00) you may call 602-433-7749, and leave a message.

 

Can I verify receipt of a payment after hours? 

Yes. We maintain a 24 hour Web site that is updated with account transactions daily. You can verify receipt of a payment, view your payment history, and get an up to date account balance. (Do not rely on the principal balance due as final payoff on your account). To view your account you will need your nine digit account: Go to our web site at: www.NoteSmith.com\Goldcrest   Please input your account number ALL UPERCASE including the dashes in the RC suffix.

 

If I receive a payment past due letter or call, what should I do?  

Please contact our offices immediately and make arrangements to bring the account current. On-going, timely, and honest communication is critical. Please note that we will not accept a personal check on a past due account that is more than 10 days late. Please submit a Money Order or Cashier’s Check.  Please note an automated dailer may be used to contract you.

 

What if my insurance expires--is their a grace period? 

No. You must maintain insurance at all times. Failure to maintain insurance is a serious breach of your contract. In addition, driving without insurance is against Arizona Law. This can result in substantial fines, impoundment of your vehicle, and/or suspension of your vehicle registration by the State of Arizona.

 

Do I need to notify you if I change my employer, address, or telephone numbers? 

Yes. It is very important to contact us within 72 hours of any change in employment. It is very disturbing to have mail returned, or attempt to call you only to find that your telephone number is disconnected.   Failure to provide this information is a breach of contract. If you move you will be required to provide a copy of your new lease or mortgage information. 

 

Can I drive the vehicle out of state? And what if I move out of Maricopa County? 

You must receive written permission to drive your vehicle out of state. Simply send us a note, or contact us by phone. If you move out of Maricopa County you will need to make arrangements to payoff your loan, unless we provide you with special written consent.

 

What happens if I breach my contract and it results in repossession?

You should contact our offices immediately and make appropriate arrangements to discuss your account. Repossession is a last option with our company. It is not our desire to repossess any customer’s vehicle. Unfortunately it does occasionally happen. 

 

If my vehicle is repossessed do I automatically loose it? 

Absolutely not… Our company will provide a redemption period of up to 10 days. During this time you will have an opportunity to discuss a payment plan. In some severe cases, the company may require the vehicle be redeemed within 10 days, and the account paid in full. In the event it is necessary to liquidate your vehicle; we will make arrangements to sell the vehicle in a commercial manner and refund any excess proceeds from the sale of the vehicle. Please note most companies do not contractually agree to refund any excess proceeds! 

 

If I plan to payoff early what should I do? 

Please contact our offices at least 48 hours in advance. This is not a requirement but a preference, as this will allow us the opportunity to prepare the necessary payoff information and assemble all necessary documents to reduce your wait time. Please Note: Payments are made in the arrears on all loan transactions. If you make a payment on the 1st and elect to payoff on the 10th. You will owe from the 1st to the 10th--an additional 10 days of interest.

 

When I payoff do I need to do anything with the title? 

No. We will release your lien and a new title will be mailed to you within 3 - 5 business days.   For your protection do not store the title in your glove box.

 

Will I receive the lien release immediately on payoff? 

No.  We must release the electronic lien and a title is mailed to you.  Please allow up to 15 days to get the necessary lien release information prepared. 

 

What if I elect to trade-in my vehicle at a new car dealership? 

Please continue to make your payment as agreed. If you do not make your payment, and your deal is not approved you will have a problem with our company. We can also provide valuation reporting so that you can negotiate the best deal. Contact us and advise us the name of the dealership, and the name of the Finance Manager that will be handling your account, and we will coordinate payoff. You are advised to not sign any blank interest rate documents, and avoid spot-delivery if you can--don‘t take delivery of your new vehicle until your loan is 100% approved.

 

Do you report to the Credit Bureau? 

Due to data format changes that occurred in 2010 with Experian (a credit reporting agency); we are unable, at this time, to accommodate the required data format. An advantage of not reporting is that your loan with our company will not affect your credit score, or debt ratio. If you are buying a home you should disclose all debt. We will be glad to take the necessary time to provide a letter of credit to any customer that maintains a satisfactory payment history with our company.