All you need to know about title registration loans

Posted by CheckmatePhoenix on May 29th, 2017

A registration loan is a loan which is typical and actually only available in the state of Arizona. This type of loan is considered as a short-term personal loan, very similar to the so-called Payday loan, a type of loan which has been banned in Arizona since. In this artice we will tell you about how to define Registration Loan and what its benefits are.

Short term loans:  Pawns, Pawn loans, title loans, personal loans and registration loans were all created for one core reason: in the US, credit score counts a lot. This means, if you have a bad credit, then the banks will see it and will likely not give you any credit at all- Bad credit score is almost equal to someone having a criminal background. All the people, who don’t actually have a proper job and have no papers to prove any larger income or property under their names have no chance to obtain for a loan of any sum.

Short-term loans are personal loans which were devised by specific loan lending companies, who are specialized on providing credits for those with a bad credit score. This also means, that these loans are generally smaller sums, with the maximum sum of registration loans being around USD 2500 and the minimum sum is around USD 150. These loans are typically for those who have something extremely urgent to pay and can provide a lien, in the case of registration loan, that’s the fact that the lender owns a car. The car don’t even have to be fully paid in order for someone to be able to obtain the registration loan. These loans are either automatically deducted from the next salary, if you decide to give access to your bank account or you pay it back in one sum until a pre-specified date.

The benefits of the registration loan:

• There are no hidden fees whatsoever
• There are no pre-payment penalties invoived
• The loan company will revise your payback capabilities and will devise a payment plan for you so that you can comfortably pay the loan back
• This type of loan can enable you to get to cash in just a matter of hours
• The interest rates are normally higher than the normal bank rates but they are for a way shorter term, therefore this cannot be felt as much as it would, in the case of bank loans-
• People with bad credit score are also accepted.
• Your vehicle won’t be claimed as a lien if you fail to pay on time.

What you need for application:

• You must live and be registered in Arizona
• You must be 18+ in age
• You ought to have a vehicle on your name
• A government issued ID
• Your vehicle registration paper
• An open bank account
• And not being on active duty in the military

The interest rates always depend on the actual company and on the exact sum a person is to lend. If you are interested in Title registration loans in Phoenix contact a local registration loan company for more details.