A registration loan is simply a loan you can take out where you use the registration on your car as collateral. This means that you are still making payments on your car. You pay back this loan with the terms you agree to with your lender.
What's the difference between a title loan and a registration loan?
The main difference between the two is that a title loan is secured by the borrower's vehicle title and registration loans are secured by the borrower's vehicle registration. If you've ever been in a situation where you need a quick sum of money for a short period, a title loan is a fast and convenient solution.
What do you need for a registration loan in Arizona?
- Current Arizona Registration.
- A recent bank statement.
- Account number and a debit card.
- Proof of income (pay stub, pension statement, etc.)
- Proof of residence (i.e. utility bill)
- Bring your car.
- Have a valid ID and be 18 years or older.
How many registration loans can you have in AZ?
five registration loans
What do I need for a registration loan in Arizona?
What do I need to qualify for a registration loan? All you need is your valid Arizona driver's license, Arizona Motor Vehicle Registration in your name, and an active checking account where most of your income is deposited.