Registration Loans Online
Are you looking for a loan that doesn't require a vehicle as collateral? Express Car Title Loans now offers registration loans of up to $2,000 in Arizona. You don't need good credit and all you need is proof of a registered vehicle to qualify for fast funding.
Same Day Registration Loan From Express Car Title Loans
Are you struggling to make ends meet and need cash today to pay your bills? Express Car Title Loans offers fast cash for your vehicle’s title with loan amounts up to $25,000. But what about if you don’t have a paid off vehicle or are only looking for a few thousand dollars? Did you know you can use your vehicle registration as collateral for a loan? Registration loans allow vehicle owners to borrow $500 to $2,000; you don’t need good credit or a clean and clear vehicle title. Let’s discuss what you need underwriting and the lending terms!
Registration Loan Requirements
Express Car Title Loans offers these loans in Arizona and a few other states. We only need your MVD documentation showing the vehicle is registered in your name. With these types of loans, there’s no need for a lien-free car title, and you can borrow $500 or more with same-day funding if you apply before 10:00 a.m. MST. Some companies will want proof of income and vehicle insurance, but these requirements aren’t as strict as if you were applying for a title loan.
A registration loan allows you to borrow money when you have nowhere else to turn. The requirements are minimal and you can often get the documents submitted and underwritten in less than an hour. These loans are usually provided by car title loan companies rather than registration agencies because online lenders offer more collateral options. The lender will keep the registration document and all other vital information about the car, including insurance information and proof of registration.
How Are Registration Loans Different From Car Title Loans
Loans using your MVD registration differ from car title loans because you don’t use the car title as collateral for the money you borrow. Instead, you use the vehicle’s registration as collateral. These loans often result in lower loan amounts, which makes sense because the equity is lower with a car registration than with the pink slip.
Registration agencies, car dealerships, and car title loan companies offer many types of loans using a vehicle as collateral. A registration loan works like a lien against the registration, without transferring physical ownership of your vehicle. You will continue to own your registration, but your lender can use it as collateral.
Most lenders do not offer these loans unless the borrower has a clear history of credit payments and repayment plans with previous lenders. The title loan company may also run a credit report to check for recently missed payments or other active loans.
Another difference between registration loans and title loans is the loan amount. Express Car Title Loans offers loans on a pink slip for $2,500 or more, while most registration loans are underwritten for $500 or less. While these loan amounts are lower than some customers request, they typically result in fewer underwriting requirements than a title loan, and some customers can be approved and funded in just hours.
Where Can I Get Approved
Registration loans are offered in many of the same states where you can get a car title loan. In some states, like Arizona, Express Car Title Loans offer these loans just as often as car title loans. Arizona has become a popular state for these types of loans that don’t require a certificate of title as collateral. These lenders are primarily based in Phoenix, and you can apply online or in person!
Companies offering registration loans use your vehicle’s MVD documents as collateral instead of using your pink slip and vehicle’s certificate of ownership. If you want to avoid losing these important documents when refinancing, they might be for you.
How Long Does It Take To Get Underwritten And Approved
It typically takes less than 24 hours to receive approval with us. Once you complete our online application or call us at 888-864-7180, we’ll start underwriting your application. We’ll need documentation from the MVD, and in some cases, we’ll confirm your income and vehicle information and run a quick credit check. Even with all that, processing and underwriting your application takes a few hours. Once approved, you’ll sign a lending contract and can either pick up your funds in person or have them sent to a bank account within one business day.
How Much Do These Loans Cost – What Is The APR
These loans typically have higher interest rates than loans from banks or credit unions because they’re considered high risk by most lenders. Interest rates can approach 100% for a registration loan, which shows that these loans can be costly if you don’t pay them back early. You should only take out a loan if you have no other options and can pay it off within a matter of weeks to avoid the high APR.
Apply With Express Car Title Loans
Contact Express Car Title Loans to see how much money you can get with an online registration loan. Fill out an online application or call us at 888-864-7180, and we’ll get you a lending estimate in minutes!5