If you’ve heard of title loans, you might think you need to own your car outright to qualify for a loan. However, if you’re still making payments on your vehicle, you may be eligible for registration loans in Prescott Valley, AZ instead!

At Fast Auto Loans, Inc., we offer registration loans that allow you to borrow money using your vehicle registration as collateral—without needing a lien-free title. This unique loan type is specific to Arizona, making it a convenient option for those who need fast cash but are still financing their vehicle.

Let’s break down exactly what you need to qualify for a registration loan in Prescott Valley and how you can get started today.

Everything You Need to Qualify for Registration Loans in Prescott Valley, AZ

Now that you know the difference between a title loan and a registration loan, you should know the items you need for registration loans are different as well. However, like a title loan, you won't need many things for us to decide if you qualify for registration loans in Prescott Valley, AZ. But there are still a few requirements that you need to meet. Keep reading to learn about the required items you will need.

1. A Government-Issued ID

Firstly, if you are trying to get registration loans in Prescott Valley, AZ, you must have a government-issued ID. Of course, this needs to be a valid ID that proves you are of legal age. In other words, it cannot be expired or your maiden name. Now, usually people use their driver’s license as their form of ID to prove their age, but that isn’t the only ID we allow you to use to prove you’re of legal age.

The good thing is if you can’t show us your driver’s license, we work with all types of IDs including student ID, passports, passport cards, military-dependent's ID and so on. Essentially, you can use it if it is given by the government and boasts your full name, your date of birth to prove you aren’t a minor, and your photo. Additionally, the name on your ID must match the name on your other documents.

2. An Arizona Motor Vehicle Registration

The next thing you need is your Arizona motor vehicle registration. Your Arizona motor vehicle registration shows that you own the car, truck, or van in some capacity — owned outright or financed. Since registration loans in Prescott Valley, AZ aren't title loans, you do not need to supply us with a lien-free title, which means you can have outstanding liens on your vehicle. We will, however, use your registration as collateral, so make sure it is in your name and issued in Arizona.

And also unlike title loans, we won't ask you to bring us your vehicle to assess its value. Since you don't own it outright, we do not need to figure out how much money you can qualify for if you are approved. So, when getting registration loans in Arizona, there's no need to worry about the condition, age, odometer reading, make, model, service history, or customizations. Instead, we use other factors to determine if you qualify for approval and how much we can lend you.

3. A Social Security Number

A Social Security Number is a unique identifier given to you by the Social Security Administration. You will definitely have one as you need it to work and for the government to determine your eligibility for public services and Social Security benefits. We use your Social Security Number for similar reasons; it gives us a decent idea of your current financial state based on your work history and proves you are legally allowed to live and work in the United States of America.

4. A Checking Account

Fourth and finally, you will need a checking account to get registration loans in Prescott Valley, AZ. Please note that it must be active throughout your loan term to ensure you can repay the loan within the agreed timeframe. As we've mentioned for the other documents, the bank account you give us needs to be in your name as well. We simply can't offer you a loan when you're using somebody else's bank account.

How to Apply for a Registration Loan in Prescott Valley, AZ

If you have the required items above ready to go, you are ready to start the process! The good thing is we here at Fast Auto Loans, Inc. of Arizona make the process as simple and quick as possible. In fact, you can get through the entire in-person process in around 30 minutes! And by the end, you’ll know if you qualify for approval and how much we can lend you. When you are ready, here is the process you will go through:

1. Complete our easy online form found on our website. It should only take you a few moments. We don't ask for any in-depth information at this stage.
2. Once we receive your form, we will call you to talk you through everything, including the requirements. We want to make sure you have the documents you need.
3. After the phone call, head to your nearest store. We'll assess your documents when you arrive to determine if you qualify for approval and how much we can lend you.
4. If you do qualify, we'll go over the loan terms and help you finish the paperwork. Once you are done, you can get the money either the same day or the next bank business day.

Get The Registration Loans You Need Today

Now that you know what requirements you need, you are set to get registration loans in Prescott Valley, AZ. You no longer have to worry about going through an emergency alone just because you can’t get a title loan. So the next time you need help with an emergency expense but can’t get a title loan, look into our registration loan instead! Fill out the online form on our website to begin the process right now!

 

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.