Are you located in Lake Havasu, Arizona, and find yourself in need of quick cash for emergencies? If the answer is yes, registration loans in Lake Havasu City, AZ may be the right option to help you with your financial dilemma. But you might ask, what are registration loans anyway? Registration loans are a type of loan where your car registration is used as collateral to secure the money. Keep reading this guide to learn the four things you must remember when you are looking into a registration loan.

Keep These 4 Things In Mind For A Registration Loan

1. You Are Not Required To Own A Vehicle 

The first thing you should know is that you are not required to own a vehicle to get this loan. This is where registration loans in Lake Havasu City, AZ differ from title loans. Unlike a title loan where you must fully own your vehicle, if you want to go for this type of loan, you do not have to provide proof that you fully own the vehicle and are finished paying it off. We here at Fast Auto Loans, Inc. have to hold onto your vehicle title because that isn’t the collateral.

Put it simply, since the car’s registration is the collateral, you aren’t penalized if you are still paying off your vehicle! So, if you purchased a vehicle from a dealer and are still making payments on it, you can use your car's registration for a registration loan. This is what makes registration loans a good alternative. This helps many people that have cars in their possession but do not have the title in their name yet. Just make sure the registration is from Arizona and in your name.

2. Vehicle Registration Is Required To Be In Your Name

As we said above, your vehicle’s registration must be in your name in order for you to use it here as collateral. It's good to remember that you cannot simply show up and apply for your registration loans in Lake Havasu City, AZ by providing someone else's vehicle registration. In order for you to find out if you can be accepted for approval, you must provide a vehicle registration that is in your legal name. It cannot be in your wife's or your husband's name on the car's registration either.

If your spouse wants to get a registration loan and the car is registered in their name, then they would have to be the ones to complete the process – you cannot do it on their behalf. Another thing to note, since this loan is unique to the state of Arizona, the car registration must be registered in Arizona as well. Unfortunately, you cannot bring a car registration that's in your name but from another state. So, if you got a car registered in Arizona and in your name, you will be able to apply for this loan.

3. Loan Amount Depends On Credit History

Credit history isn't always required with different loans. However, when you are looking to registration loans in Lake Havasu City, AZ, we here at Fast Auto Loans, Inc. are required to run a credit check on you before we can tell you if you qualify for approval. If you don't know what your credit score is at this time, you can check it for free at FreeScoreOnline.com to get an idea of whether it is good enough for this kind of loan. And if you fear it isn’t, you can still look into our title loans instead!

4. Arizona Driver's License Or ID Is Required

Remember, when applying for registration loans in Lake Havasu City, AZ, in addition to having an Arizona car registration in your legal name, you must provide proof of a valid Arizona driver's license or Arizona photo ID. If you've recently moved to Arizona, please wait until you receive your Arizona driver's license or ID, as well as your Arizona car registration before you come see us for this kind of loan.

Keep in mind that you cannot apply with a different state's driver's license and car registration even if you could show proof of employment within Arizona. Even if you go for our title loan, you still need to have your Arizona driver’s license or state-issued ID, so it is important you wait until you have either the driver’s license or ID before you come in. And as soon as you've got your valid Arizona driver's license or photo ID, you are good to go!

Apply For Your Registration Loan With Us Today

Are you in a financial bind and are thinking about getting a short-term loan to help you out? You may need to pay an urgent bill, cover a medical bill, or cover urgent travel expenses. Whatever your need may be, registration loans in Lake Havasu City, AZ may be the right loan option to get you the quick cash you need today. Remember the four things in this article and begin the simple process for your registration loan at Fast Auto Loans, Inc. now by filling out the online form on our website.

 

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