Most people around our nation have heard of a title loan, but very few people have heard of a registration loan. A registration loan is a rare loan type that is only available in certain states and offers a fast cash solution for Arizona residents facing emergencies. Unlike title loans, full ownership of your vehicle is not required for eligibility, but it must be registered in your name. A registration loan is an alternative option to other loans you might not have access to.
It’s important that you understand what a registration loan is and what it entails before you apply. That way, you can make a good financial decision based on your situation. Let’s take a look at some important information to know about Arizona registration loans before you apply.
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6 Things To Know Before Getting An Arizona Registration Loan
1. Registration Loans Are Unique To Arizona
Registration loans are unique in the United States. They are not available everywhere. On the contrary, these loans are only available in Arizona. If you are an Arizona resident, you can benefit from Arizona registration loans, unlike citizens who live elsewhere.
2. It’s An Alternative To A Bank Loan
Registration loans are an alternative to a traditional bank loan. As a bank loan alternative, the requirements are less stringent, and the money can be distributed faster. As such, registration loans are a short-term alternative to bank loans and are available to more people.
3. It’s An Alternative To A Title Loan
Title loans are another alternative to bank loans, but they require you to outright own the car. If you don’t own your vehicle outright yet, you cannot qualify for a title loan. The good news is that a registration loan is an alternative to a title loan.
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Unlike title loans, you only need your registration, not a lien-free title, to get the loan money you need. As such, registration loans are an alternative whenever you don’t own your vehicle completely yet.
4. You Get To Keep Your Car
Many people who first hear about an Arizona registration loan are hesitant to apply because they fear they’ll lose their vehicle. With the registration loan, you will still get to drive your vehicle as before. So, you’ll get to walk away with both loan money and your vehicle.
5. You Need A Few Things To Qualify
Because registration loans are an alternative to bank loans, you don’t need everything plus the kitchen sink to qualify. You normally only need a few items. The items needed to qualify for this loan depend on the lender you select.
At our location, you must have an ID, registration, SSN, and active checking account. These requirements are much easier to meet than the requirements needed for a traditional bank loan or a title loan.
6. Your Credit Score Will Be Checked
One last thing to know before applying for a registration loan is that your credit score will be checked. This fact comes as a surprise to many individuals since this isn’t necessarily the case for a title loan.
However, you don’t need to panic if your credit score is not fantastic. It’s best to contact a lender to learn more about how your credit score will impact your chances of getting approved. Most lenders do not expect a perfect score.
How To Apply For Arizona Registration Loans
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If a registration loan sounds right up your alley, all you need to do is apply. Fast Auto Loans, Inc. offers Arizona registration loans. Our registration loans are worth up to $900. You will need to apply in-store at our location to qualify.
Confirm that you have our requirements before you apply. This will save you some time. As mentioned above, you will need your Arizona ID, Arizona registration, Social Security number, and checking account. Make sure all this information is in your legal name.
If you can check off these items, get started with our inquiry form. After the form is completed, we will contact you and formalize an appointment. During your allotted time, you will formally apply for a registration loan, and we will check out your items.
Your appointment time will be fast and easy. In fact, it only takes half an hour for some of our customers to complete the application process. If we approve you, you receive your money that day or the next.
Apply For An Arizona Registration Loan Today!
Registration loans are unique to the state of Arizona. They are a convenient alternative to traditional bank loans and title loans. You do not need to own the vehicle outright to qualify, but you will need some other requirements. If you have everything that is needed, you will get to keep your vehicle after receiving your Arizona registration loan money.
Fast Auto Loans, Inc. can help you find registration loans. Complete our secure inquiry form to kick start the process. We can’t wait to help you get the Arizona registration loan you need today.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.
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