If you don’t yet own your car outright and you need to get extra cash ASAP, you might want to consider getting a car registration loan online from Fast Auto Loans Inc. You can get up to $900 the same or the next bank day by using your vehicle’s registration as collateral.

In this guide from Fast Auto Loans, Inc., we will explain how to get a car registration loan online, even with a financed car. We will review the requirements and approval process to see how you can get fast emergency cash today for urgent expenses.

Can You Get A Title Loan On A Financed Car?

You can get a loan against your car using a title loan. This borrowing option lets you receive up to $15,000 based on your vehicle’s value. However, you cannot get a title loan with a financed car.

One of the main requirements when taking out a title loan is a clear title. The term ‘clear’ means that the vehicle has no liens attached to it. If you have taken out a loan to pay for the car and you’re still in the middle of making the payments, you won’t be able to qualify for a title loan.

That said, we do offer registration loans that are available if you are still paying off your vehicle. You use your car registration, not your vehicle title, as collateral to get approved for a car loan.

Requirements For A Registration Loan In Arizona

A registration loan allows you to borrow up to $900 by using your car registration as collateral. You can get approved even with a financed car and can keep your vehicle during repayment. Approval is simple with only a few requirements you must meet to qualify.

You’re only going to need a few registration loan requirements to take out a registration loan:

• Your government-issued photo ID – Borrowing money in Arizona requires you to be at least 18 years old. You can prove this, along with your identity, with a photo ID that displays your full name and date of birth. Examples include your driver's license, passport, and student ID card.
• Your valid Social Security number – You will need a valid Social Security number to verify your identity and comply with federal anti-fraud laws. We will also use it to do a soft credit check, but you can still get approved with bad credit. Your credit score may influence your loan amount, but it shouldn’t prevent you from getting approved.
• An Arizona vehicle registration in your name – As we mentioned previously, you will need an Arizona vehicle registration to use as collateral to get approved. The name on the registration must match the one on the ID you provide.
• An active checking account that has been opened in your name – We will use your checking account to verify your income, which can affect loan value. We will also use it to process your funds and ensure that you have a reliable repayment method.

When going for a registration loan, you wouldn’t have to bring your car to the lender’s store for inspection. You wouldn’t have to give up your car to the lender while you’re repaying the loan. You can continue using the vehicle as you normally would, while the professional holds on to the registration. Just make sure that you stick to the repayment schedule

Also, make sure the registration is in your name and from Arizona. If your vehicle is registered in another state, you won’t get approved.

Do You Need To Have Good Credit For Registration Loans In Arizona?

Your credit would typically get checked by the direct lender when determining whether you qualify for approval. This will allow the specialists to get a clear picture of your financial situation.

However, that does not mean that you’ll automatically be declined if your credit score is bad. As long as you manage to meet the rest of the requirements, you might still manage to get the money that you urgently need.

Also, you don’t have to worry about this credit check lowering your score when working with Fast Auto Loans, Inc. We conduct soft credit checks to see your score without notifying the major credit bureaus.

When Does Taking Out A Registration Loan Make Sense?

Taking out any type of loan is worth it only if you are facing an emergency and you know for sure that you will be able to repay what you owe within the given timeframe. You should view any loan as a last resort when faced with bills you cannot afford.

If you still have months before a bill is due, you should try to save money before opting for a loan. You should also avoid borrowing money for frivolous purchases, such as new clothes, vacations, a new phone, etc.

Only borrow a registration loan for emergency expenses, including:

• Overdue bills – Rent, mortgage, utility bills, energy expenses, student loans, vehicle loans, home loans, credit card payments, etc.
• Medical bills – Medication, hospitalization, ambulatory costs, medical equipment, surgery, physical therapy, etc.
• Auto repairs – Replacing fluids, fixing broken windows, getting tires rotated, replacing malfunctioning parts, etc.
• Home repairs – Clearing out mold, cleaning gutters, fixing broken windows, replacing a broken air conditioning unit, etc.
• Unexpected travel costs – Plane or train tickets, rental cars, hotel rooms, food, gas, etc.
• Veterinarian bills – Blood work, surgery, medication, medical equipment, physical exams, vaccinations, dental cleanings, etc.

Are you facing one of the expenses above? If so, a car registration loan online can help you fund up to $900 in financial emergency costs. Continue reading to learn how to apply online and get approved in person in under half an hour.

How To Get A Registration Loan In Arizona

Getting approved for a registration loan in Arizona only takes a few short steps. In fact, you can get same-day approval for registration loans and access emergency cash within one business day. After completing just a few short steps at home, you can visit us in person to get qualified in under 30 minutes.

Here is how to get approved for an Arizona registration loan:

• Submit an online inquiry with our request form
• Answer our phone call to discuss registration loan details
• Head to our nearest Arizona store location with your required items for verification
• If approved, sign the loan agreement to finish up the process in less than 30 minutes
• Receive up to $900 later that day or by the next business day

Borrow A Registration Loan With A Financed Car In Arizona – Get Started Today!

If you’re looking to take out a car registration loan online, we at Fast Auto Loans, Inc. have got you covered. With us, you can get approved for a registration loan with a financed car, and you can even qualify if you have bad credit. You get to keep your car during repayment as well.

If you’re dealing with an emergency, no need to wait any longer. Contact our company right now, and you might receive the money that you urgently need the very same day. Fill out our online registration loan form, discuss how the process works over the phone, and come visit us in person to get approved in under half an hour!

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