Registration loans are offered by registration agencies in states that don’t require you to physically turn in your plates when refinancing the registration on your car. With a registration loan, you can refinance your registration without turning over ownership of the car, or most importantly you don’t need to hand over your vehicle’s pink slip to your lender.
Registration Loans Explained
A registration loan is an opportunity to refinance your registration rather than losing your license plate or paying expensive fees at the DMV for renewing late. These loans are usually given through car title loan companies instead of registration agencies because online lenders have more options available for collateral. The lender will keep the registration document along with all other vital information about the car, including insurance information and proof of registration.
How Are Registration Loans Different From Car Title Loans
Registration loans are different from car title loans because you’re not handing over or using the car title as collateral for the money you borrow. Instead, you use the vehicle’s registration as collateral. 
Registration loans will often lead to lower loan amounts, but that makes sense because the amount of equity is lower with a car registration versus the actual pink slip.
Many registration loans are offered by registration agencies, car dealerships, and car title loan companies. A registration loan works like a lien against the registration without actually turning over physical ownership of your plates. You will continue to own your registration but your lender can use it as collateral for the registration loan.
Information collected during the application process is necessary whenever you sign an agreement. This information must be documented on paper in some cases; other documents might be established electronically through online registration forms or e-signing techniques. Borrowers must supply several pieces of personal information when applying for a registration loan.
Most lenders do not offer registration loans unless the borrower has a clear history of credit payments and repayment plans with previous lenders. Additionally, a credit report may be run by the title loan company to check for recently missed payments or other active loans.
Where Can I Get A Registration Loan
Registration loans are offered in many of the same states where you can get a car title loan. In some states like Arizona, registration loans are offered just as often as car title loans. In other states however registration loan companies may only offer registration loans in limited circumstances. Arizona has become a popular state for registration loans and we see multiple companies that don’t even offer title loans are instead pushing registration loans!. These lenders are mostly based in Phoenix and you can apply online or in person!
So, what is a registration loan? Basically, a registration loan is a chance to refinance your registration online so you don’t have to turn over ownership of the plates or lose the registration documents for any reason during refinancing if you’ve lost them already. Registration lenders use this information 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, registration loans might be for you.
How Long Does It Take To Get A Registration Loan
It typically takes less than 24 hours to receive registration loan approval. Similar to online title loans, you can get approved for registration loans online or in-person with local lenders. Typically, registration loan approvals are completed within one business day after the application is received. Credit checks are not always required to obtain registration loans so it’s possible to get prequalified before filling out necessary documents.
How Much Does A Registration Loan Cost
Registration loans typically have higher interest rates than traditional types of financing because registration loans are considered high risk by most lenders offering them. Interest rates on registration loans are usually fifteen percent above what you’d normally pay if you went through a traditional lender since registration lenders do not offer credit lines and only work with established borrowers that have good payment records. The APR rate will be similar to a title loan online, but the amount available will be lower.
Contact us at Express Car Title Loans to see how much money you can get with an online registration loan. You can fill out an online application or call us at 678-788-6710 and our friendly agents will walk you through the process to get cash within 24 hours!