What Is A Vehicle Registration Loan And How To Get One

A registration loan is great because you don’t need to own your vehicle. Instead, you simply use a vehicle registration as collateral to get a loan. Similar to a car title loan, you use the equity in your car to get cash and you pay off the loan amount over a prearranged period of time. It’s not too difficult to get one, but here are some tips and information you should know that will help you when getting one.

Not all registration lenders are equal so it’s important to be aware of reputable ones out there before making any sort of decision about which registration lender in Arizona to go with. If there are no registration lenders in your area, you can always shop around online since many title loan companies in Arizona offer registration loans online these days. Just make sure they’re legitimate companies that are licensed in the state and not scammers looking to take advantage of people who aren’t informed.

 

What Does A Lender Require To Get A Registration Loan?

To get a registration loan, you will need to go through the registration lender’s pre-approval process. Many registration lenders offer auto title loans that do not require a credit check in Arizona, but others may insist on a credit report or other methods before they approve you for registration financing. If this is the case, there are options available if you have bad credit and want a registration loan in Arizona.

You can also qualify for registration loans even if you’ve been turned down elsewhere. You might be able to get approval depending on your lender, so it never hurts to try applying at more than one reputable company when looking into registration loans in AZ.Car Title Loans 123 Now Offers Registration Loans! To get started on an application you will need to submit a current copy of your vehicle registration. You will also need your driver’s license, employment records and banking information. This sounds like a lot, but it’s far less than what you would see from an installment loan company and even companies that offer title loans online and use your pink slip as collateral.

 

How Much Can I Borrow With A Registration Loan And How Long To Get Approved?

You can usually borrow any amount up to 50% of the value of your registration. The maximum amount you can be approved for will depend on the registration lender, but registration loans are typically going to max out at around $1,000 in the state of Arizona. This form of funding is much less cumbersome than other types of financing or credit options. You could get a registration loan that is lower than $625 and have it paid back over around six months with about $110 in interest fees. It’s important to note that registration lenders may have different repayment terms so contact a registration company if you need more information before getting a registration loan in AZ.

When applying for a registration loan, many borrowers don’t realize how quickly they can get approved and receive their funds from a reputable company. In most scenarios, you should have a preapproval within a few hours and you can get funds within 24 hours or one business day.

 

How Is A Registration Loan Different From A Car Title Loan?

A registration loan and a car title loan are very similar, but registration loans can be used for different vehicles than those that only use the pink slip as collateral. This means registration loans can be used on any vehicle, not just cars and trucks with titles. Also, registration lenders generally have less stringent guidelines to qualify even if you don’t own your vehicle or it doesn’t have a registration that is worth as much as the loan amount.

Simply put, a registration loan uses your vehicle registration info as collateral while an online title loan company used the actual car title as collateral for a secured loan. Lending companies will typically approve registration loans that are lower than $625 because they still think their risk is worthwhile to approve you for such a small amount of credit. Even though a bad credit title loan is still possible for most people with a paid off car title, you can also use a certified vehicle registration card to get a smaller amount of cash.

 

How Can I Find The Best Registration Loans Near Me?

When looking for the best registration lender in Arizona, make sure they’re reputable and have a good record online. In addition to companies that offer online title loans, you will also want to check out neighborhood financing lenders in your area that can help you get registration financing. It shouldn’t make a difference if you apply online or with a lender near you when it comes to the loan amount and APR. Almost all the large title loan companies in AZ offer cash in person and online and the rates and terms should be the same.

Whichever method you choose to get for your car in Arizona, make sure you do your research and compare the terms of each loan company to ensure you get the best deal. You should be able to find registration loan companies that offer cash for a valid registration within 24 hours, so if you need fast cash, contact a registration lender like Car Title Loans 123 today. We’ll be able to give you a quote based on your vehicle registration info as well as your pink slip equity if that’s an option for you also!

A car registration loan can open up new sources of funding.