How A Registration Loan Can Be A Payday Loan Alternative
If you need money to cover an emergency like medical bills, home repairs, or same-day urgent travel, your first thought might be getting a payday loan. However, for those who live in Arizona, have a vehicle, and can’t get a payday loan, there is a payday loan alternative available to you — a registration loan. In this article, we will uncover the inner workings of registration loans and why they make a suitable alternative to a payday loan.
Learn Why A Registration Loan Can Be A Payday Loan Alternative
As many people will probably know, payday loans are loans taken out over a short period, allowing you to borrow small amounts of money to cover unexpected scenarios. They can be an option among bad credit borrowers who might find it challenging to gain approval from traditional financing through credit unions or banks. But this kind of loan is not available here in Arizona. This means you will need to find a payday loan alternative.
A registration loan is a loan that uses your vehicle’s registration as collateral to secure the loan, giving you access to quick money when you need it most. When you come to Fast Auto Loans, Inc., you can qualify for anything up to $900. And unlike our title loans, you can still qualify for this loan even if you are still paying off your vehicle. Perhaps the best part is, if you qualify for approval, you can get the money you need on the same day or the next bank business day.
How This Payday Loan Alternative Works
You might be thinking that registration loans require more documents and come with hard-to-meet criteria. But that isn't the case when you come to Fast Auto Loans, Inc. for this type of loan. In fact, the easy requirements are another reason why it's a payday loan alternative when you need quick cash for emergency expenses. In fact, you only need the following things to learn if you qualify for approval for a registration loan from us:
- Your Arizona driver's license or state-issued photo ID.
- An Arizona motor vehicle registration in your name.
- Your Social Security number.
- An active checking account in your name.
Just make sure that your name matches all your documents so you can get through the process without issue. As we said, the primary difference of registration loans is that this loan uses your vehicle registration as collateral. And again, you don't need to own your vehicle outright to get a registration loan from us. Just know that we will have to run a quick credit check before we can tell you if you qualify for approval.
Understanding The Registration Loan Process
Another benefit to using registration loans as a payday loan alternative is we make sure the process is simple and quick to get through. So, if you're one of those people that need quick cash for an emergency situation, understanding the steps you'll need to take to get one is worthwhile. That way, you can make sure you are well-prepared to get through the process and find out if you qualify for approval. Here's our registration loan process from start to finish:
- Fill in our online inquiry form found right on the homepage of our website. Quick note — please ensure you select registration loan when completing the online form because we also provide title loans.
- Once we receive your request, we will give you a call as quickly as possible. We recommend having your phone nearby once you've submitted the form to ensure the process moves along smoothly and efficiently. During the conversation, we will tell you about the loan in more detail and answer any questions you may have about the process.
- After that, you need to head to your local Fast Auto Loans, Inc. branch for the in-person portion of the process.
- When you arrive, we will take a look at the documents (we listed them in an earlier section) to figure out whether you are eligible for a registration loan.
- If you do gain approval for the loan, your hard work is done. All you need to do is finish the simple paperwork and get the money you qualify for either on the same day or the next bank business day.
Get A Registration Loan From Us At Fast Auto Loans, Inc. Today!
Registration loans can be a viable payday loan alternative if you have a vehicle registration in your name to use as collateral. This money can definitely help you out when you have emergency expenses you can’t handle alone. So, if you need to pay for a time-sensitive situation and have no other avenues to try to get quick cash, go to our website and fill out the online form to get started 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.