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How To Get Same Day Cash Loans For Emergencies In Arizona

November 5, 2021 | Daniel Dewitt

title loan or registration loan

 

Same day cash loans are essential when a crisis strikes. Whether you need to pay for medical bills, fund urgent travel, or settle overdue bills, these situations don't wait for your next paycheck. So, same day cash loans are available when you need them. But what type of loan should you get? Here is what you need to know about the top two types of loans – either a registration loan or title loan – to make the right decision.

The Top 2 Types Of Same Day Cash Loans

1. Registration Loan

The first type of same day cash loans in Arizona is called a registration loan. It uses your vehicle registration for acquiring between $200 and $1,500 from Southwest Title Loans. However, you don't need to own your car outright. Instead, the amount of money you qualify for depends more on your income and credit.

In other words, it's an alternative to a title loan, which does require you to have a fully paid-off vehicle. Registration loans az – like our title loans – welcome you even if you happen to have bad credit. And just like our title loans, the process is simple. It was designed to be simple and convenient. Follow the steps below to make it happen:

  1. Start the process by completing the easy online form. One of our loan experts calls you to discuss the rest of the process.
  2. After the phone call, head to your nearest Southwest Title Loans store. Make sure you bring your driver's license or state-issued ID, motor vehicle registration, and your vehicle for inspection.
  3. When you arrive, a loan expert will look at your documents and inspect your vehicle to determine how much you could get and if you qualify for approval.
  4. If you are approved, they will go over the loan terms and have you finish the paperwork. Once done, you get your money on the very same day or the next bank business day.

2. Title Loan

A title loan is similar to our registration loans but does have key differences. Title loans use your car's, truck's, or van's lien-free title as collateral to let you borrow up to $15,000. The specific amount you qualify for depends on the value of your vehicle.

Unlike a registration loan, you need to be the outright owner of your automobile to qualify for auto title loans. Before we jump into the actual process, it's worth understanding how we value your vehicle, as this will determine how much you can borrow to fund your emergency. The factors we consider are as follows:

  • The age of your vehicle — Every vehicle manufacturers release newer, shinier versions of their much-loved cars, vans, and trucks. And while we love that, it diminishes the value of all the older models. Yes, even those that are only a year old. Carfax reported that almost all vehicles lose approximately 60 percent of their value throughout the initial five years of their life. That's quite a large chunk of money to lose!
  • The make and model of your vehicle — Run-of-the-mill brands simply don't cost as much as higher-end models. You will never find a Toyota Yaris costing as much as a Mercedes C-class. It's just the way of the world. So, if you own a luxury vehicle, you are more likely to qualify for the higher title loan amounts.
  • The condition of your vehicle — It's no secret that failing to keep up with routine maintenance like oil changes and tire rotations diminishes the vehicle's condition, and therefore, decreases the total value. Moreover, the cosmetic condition reduces or maintains the vehicle's value. We suggest fixing scratches, dings, stains, and dents before trying to get a title loan if you need to qualify for a higher amount. Even just a quick vacuum and wash can be enough to make it look in top-class condition.
  • The mileage of your vehicle — Check your odometer. The bigger the number, the less valuable your vehicle is, even if it's a newer model! If you have ever tried to buy a used car, van, or truck, you'll know that automobiles with a larger odometer reading are priced lower than those with more attractive numbers.

 

auto title loans and registration loans az

 

Getting a title loan is pretty similar to getting a registration loan – especially in the sense that the process is simple and convenient. Follow the steps below to get a title loan:

  1. Complete the online form found on our website. Wait for one of our loan associates from your closest Southwest Title Loans to give you a call. They tell you about the process and requirements. If you don't want to come to the store, our associate can come to meet you.
  2. No matter where you meet, you must have your driver's license or state-issued ID, your lien-free title to your vehicle, and your vehicle. Our loan representative examines your ID and title and quickly inspects your vehicle to determine whether you qualify.
  3. If you are eligible, they will go over the loan terms and have you finish the paperwork. They will also answer any of your questions as well. Once done with everything, you can receive the money either on the same day or the next bank business day.

Get Same Day Cash Loans Right Now!

No matter which one of our same day cash loans you decide to go with, make sure you can afford the repayments. You don't want to end up adding to your list of long-term financial obligations! If you have everything together on your end and you know what loan you want, you can fill out the online form to get started on the simple process. 

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