Girl who wants fast cash but has no credit

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Registration Loans

  • Keep driving your vehicle
  • Borrow up to $10,000
  • Bad Credit is no problem
  • Fair terms & rates
REGISTRATION LOANS IN LESS THAN 24 HOURS
  • Keep driving your vehicle
  • Borrow up to $25,000
  • Bad Credit is no problem
  • Fair terms & rates

Apply Online With Southeast Title Loans

    What Is A Vehicle Registration Loan And How Does It Work?

    Before you start with our registration loan application, you’ll want to know how a registration loan works. Most borrowers know they can prequalify for a registration loan, but do they know what’s required and how to get approved?

    A registration loan allows you to borrow money with just your vehicle registration documents as collateral. With this type of loan, you’re obtaining cash against your car’s registration. So, instead of providing collateral for the loan, the borrower provides proof of their ownership over the financed vehicle, which is reflected through their DMV paperwork or vehicle title. The lender will use this information to substantiate their claim on the car if something goes wrong with repayment.

    The amount you can borrow with a registration loan is often less than that of online title loans. This is because the collateral used(your vehicle registration) is often less than the actual vehicle. The goal is to receive a smaller amount and then return in time with your registration to pay off the loan.

     

    How Are Registration Loans Different From Title Loans

    The most significant difference with these types of loans is that a title loan uses the equity in your vehicle as collateral for a loan. In contrast, a registration loan uses your registration docs as collateral. You don’t sign over the car’s title to your lender with a registration loan, meaning there’s more risk for them if you default on the payments.

    Unlike a title loan, you still own and drive the vehicle as you please when you get a loan. You can use the car if you make your monthly payments on time and the lender is not noted on the car’s title. If you cannot repay the amount owed at any point during the repayment term, then you face a situation where your lender can sue you to get their money back.

    Registration loans come with a more competitive rate of interest than traditional title loans because there is less risk involved for lenders due to their security being tied only to the borrower’s claim on their vehicle or actual vehicle registration.

     

    What Are The Main Requirements For A Registration Loan

    Registration Loans are available for any borrower with a suitable car or vehicle registered in their name. If you own your car outright, it is eligible to act as security for the registration loan, much as it would for a title pawn from Southeast Title Loans. These loans are often issued in Arizona, and because of that, you need documentation from the State MVD that shows the car is registered in your name. You must also show proof of vehicle insurance and provide a driver’s license or state ID card.

    If your car has a lien (loan) attached, it can still be used to secure the registration loan. However, both partners must own the vehicle if two or more borrowers are involved. This applies even where one partner owns 90% of the car, and the other owns only 10%.

    Registration loans come with repayment terms ranging from 12 months up to 5 years (in some cases beyond). Minimum monthly repayments apply, but they tend not to exceed $200 monthly, even when borrowing large amounts.

     

    When To Expect My Money After Being Approved

    When you apply for a registration loan, the chances of getting funded can significantly improve if you work with a local title loan company. By meeting with a neighborhood lender, you can show them you can make the payments and that you are a good candidate for a loan. Meeting in person can also allow someone who has not applied before to get their questions answered or any concerns they have addressed. You can get cash quickly whether you apply for a registration or title loan in person or online. Expect to see your money within 24 hours or one business day of approval.

    The application process when applying for a registration loan near me or online is similar to what you would expect with any other type of secured loan. You will be asked about your income, expenses, assets, and previous addresses over the last two years. Your job situation will also play a role in determining whether you’re approved for your registration loan near me. If you are self-employed there may be additional requirements, or the amount available to borrow can be less than expected.

     

    Apply For A Registration Loan

    Many customers can’t decide whether to get a registration loan from a local lender or apply online. Both options are convenient, so deciding which way to go depends on individual preference. Applying over the phone will allow you to benefit from speaking with someone in person while filling out an application online, which can be easier and take less time. Either way, you will need all your mandatory documentation on hand regardless of how you make your application. Start an online application with Southeast Title Loans or call us at 800-308–1905 to find out if you qualify!

     

    An agent from Southeast Title Loans speaking to a customer about a registration loan.