How Do Car Registration Loans Work?
June 16, 2021 | Daniel Dewitt
People run into unexpected financial trouble all the time, even when they're otherwise prepared with a healthy savings account and great credit. But what about the average American consumer? A majority of adults have a credit score of 710 or less, with no more than $3,000 in their savings account. What can they do when something bad happens?
If you happen to not own your vehicle outright, there is another financial option available to you in Fast Auto Loans, Inc. in Arizona. You can take out car registration loans when you need quick cash but do not meet the qualifications of our title loans. A registration loan allows you to use your vehicle’s registration as collateral – even if you haven’t fully paid off your vehicle!
So, now is the time to find out how they work and discover where to get one. After all, you don't want to start searching when it's too late.
What Are Car Registration Loans?
Car registration loans, again, are a type of secured financing that uses your vehicle's official registration as collateral. And since your credit rating isn't the primary factor for approval, you can get one even if your credit score falls below the national average. As long as you're at least 18 years old and can submit the required items, you can apply for up to $900 in emergency cash.
This type of convenient loan offers fast help when you need it the most. It helps pay for emergency expenses to protect your lifestyle and credit rating. Thus, it's an option for consumers who can't get approved by a traditional bank. Less than half of all United States citizens are eligible for a rapid cash advance from a conventional institution.
How Do Car Registration Loans Work?
The way car registration loans work is simple. First, you submit some basic information through our online form. Then, you provide the agent with the documents required to get through the process. Once that's done, you'll know whether you qualify and how much you can get within 30 minutes or less.
Depending on several factors, you can get up to $900 in same-day cash if you get approved. It is a quick and simple process and there is no waiting days or weeks to hear if you’ve been approved or not.
3 Reasons To Get A Registration Loan On Your Car
Because car registration loans are so easy to understand, they can be an appealing option to some. Of course, like with any loan, you should do your research to make an informed decision. Here are a few reasons why you might choose to get a registration loan:
- Your income can change at any time. Today's job market is sketchy, but even in the best of times, your income can drop without much notice. When that happens, it may become harder to pay your bills on time. That, in turn, can do major damage to your bank account and credit rating.
- You could get sick or injured. Hopefully, this never happens, but you could fall ill or get hurt in multiple ways even if you're extremely careful. That's because life is unpredictable and we can't always avoid accidents. But when we're hurt, we can't make money and that's a problem.
- You may have to travel unexpectedly. You never know when you might have to pick up and leave, but airline tickets and bus passes aren't cheap. If you don't have a choice, the trip can wreck your budget and send your finances flying off the rails. This is not a good situation.
How To Get Car Registration Loans In Arizona
Luckily, getting through our registration loans process at Fast Auto Loans, Inc. in Arizona isn’t complicated. In fact, you don't even have to leave the comfort of your own home to get started. Just follow this guide below:
- Go online to submit the online form. After you click submit, your form will be sent to the nearest Fast Auto Loans, Inc. location, where a loan representative will give you a call for further instructions.
- Gather your driver’s license or state-issued ID, your vehicle’s title, and your vehicle for the loan representative. You will either meet at a location of your choosing or the nearest registration loans location.
- The loan representative will inspect your vehicle and assess your items to determine if you qualify for approval. If you do, they will explain the loan terms and help you finish the paperwork. Once everything is done, you will either get the cash right then or the next bank business day.
Get A Car Registration Loan, Today!
A car registration loan is easy to understand, and it's even easier to get when you go through the right source. Come to Fast Auto Loans, Inc. in Arizona to get one today. Fill out the online form when you are ready to get started.