Emergency Finance Rescue With Registration Loans
If you need emergency funds but are still paying off your car, you might think getting a loan is not an option for you. You see, loans like title loans require a fully paid off vehicle before you can even find out if you qualify. But the good news is that there is another option.
When you come to Southwest Title Loans, you can see if you qualify for registration loans instead. Registration loans differ from title loans because you can qualify even if you are still paying off your car.
Instead of using your vehicle’s title, your vehicle registration acts as the collateral to secure the loan. At Southwest Title Loans, we understand that financial emergencies pop up.
Though the registration loan process is similar to a title loan, there are a few differences, and it is important that you know the differences so you can see how a registration loan can help you out. Keep reading to find out what the benefits are and if this could be a good fit for your needs.
Here Is How Registration Loans Can Help You With Your Emergencies
What Is A Registration Loan?
A registration loan provides the same type of emergency funds that a title loan does, but – as we said above – you don't have to finish paying off your vehicle before you can find out if you qualify. These loans are for people who are still making payments on the vehicle but need quick cash. Instead of backing up the loan with your vehicle's title, you'll back it up with your registration. Another difference is we don’t have to inspect your vehicle before we can tell you if you qualify.
What Are The Requirements To Qualify For A Registration Loan?
One good thing about registration loans is all we need to see from you is your state-issued ID or your driver's license, the Arizona registration for the vehicle in your name, an active checking account in your name, and your valid social security number. You'll get the registration back when you've paid the loan back and the terms are completed. Once we’ve seen these items, you could see if you qualify to be approved in under 30 minutes, in some cases.
Unlike title loans, we do not need to see your vehicle before we decide if you qualify for approval. This is because we base your approval on your financial situation and whether you will be able to make the loan repayments on time.
This means we place importance on your finances. With that being said, we also have to do a quick credit check before we can tell you if you qualify for approval. This gives us a full picture of your finances so we can really understand if you can handle the loan repayments.
Benefits Of A Registration Loan
There are a few great benefits to taking out a registration loan. The biggest one is you don't have to own your vehicle outright. There is also no lengthy process with confusing loan terms.
You should know that we will have to run a quick credit check before we can tell you if you qualify, but that doesn’t automatically mean poor credit will mean you can’t get approved. Just as with a title loan, you can continue to drive your car throughout the duration of the loan.
How Do I Complete The Loan Process?
As we said in the above, the process is quick and easy for a registration loan. When you come to our website, you can find the webpage for registration loans that has an online form to fill out.
You'll typically get a call from a loan specialist within minutes of submitting the form. It's best to try to pick up when that representative calls to expedite the process. During the call, we will go over the process and set up a meeting for you to come to the nearest store location.
When you do come in with your required items, the loan representative will assess your items and run a quick credit check to see if you qualify for approval and how much we can lend to you. If you are approved and you agree with the loan amount, we will go over the loan terms and help you finish the paperwork. Once you are done, you can get the money either later that same day or the next bank business day at the latest.
Get Help With Your Emergencies With Registration Loans Right Now!
When it comes to emergencies, you don’t have to worry about still paying off your vehicle if you want to get a loan. Instead of getting a title loan, you can take out a loan against the registration of your vehicle at Southwest Title Loans to help with those financial emergencies that pop up out of nowhere.
Don't get off track with your finances because unexpected expenses arise. Get started right now with the online inquiry form on our homepage to see if you can get registration loans.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.