Are Registration Loans Legal?

 
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Registration loans are only legal in the state of Arizona. Why? First you need to understand what a registration loan is. Registration loans are a short-term, high interest rate loans where the borrower uses the registration to their vehicle as collateral. The loan is expected to be paid back within a short period of time, and these loans usually always come with very high interest rates. Doesn’t this type of funding sound like a payday loan?

Well, payday loans are not allowed in Arizona, but registration loans are.

Have you considered a car title loan? Car title loans are provided for in multiple states throughout the United States, because there is nothing to hide. When you get a car title loan with LoanMart, you can receive competitive rates, convenient terms, and, you can get your funding in as little as one business day3.

Benefits of a Car Title Loan from LoanMart

Since 2002, LoanMart has been a top-notch lender. Just ask any one of our 150,000 satisfied customers2. Check out some of the reasons why people throughout the United States come to LoanMart for fast, efficient funding you can count on.

  • High Approval Rate1 – Have you ever been immediately rejected from a lender just because your credit score might be on the lower side? LoanMart knows you are more than a number, so we treat you like it. We consider OTHER important factors when accepting new borrowers that allow us to help the most people we possibly can. Your ability to repay the loan and the equity of your vehicle are more important to LoanMart than your credit score.
  • Convenient Terms – Paying back your auto title loan is manageable when you enjoy the convenient terms that can come with LoanMart car title loans. Different types of loans like payday loans have extremely short terms, with consequences to face if you don’t pay back your loan in full right away. LoanMart wants your car title loan to be a stress-free experience, that’s why we have convenient terms ranging from 12-48 months that make your monthly installments feasible for your lifestyle.
  • Competitive Rates – LoanMart car title loans have competitive rates that actually allow you to pay off your car title loan balance. Other lenders might bog you down with astronomically high interest rates that can make your loan balance go up each month! LoanMart thinks that is just crazy! We will work with you to determine a rate that works for your unique budget. Managing your budget and staying on top of your title loan installments is easy with competitive rates at LoanMart.

What Do You Need to Get a Car Title Loan with LoanMart?

Upon approval for a LoanMart car title loan, we will request a few documents from you. Your LoanMart car title loan agent will inform you of everything you’ll need, but here are some of the basics:

  • Government Issued ID – Something like a driver’s license, a state issued ID, or a passport will work perfectly. The important thing is that your photo is on the ID and that it was issued to you by the government.
  • Proof of Income – More than just a paystub can work for this. A checking account statement, disability, social security, or any source of consistent personal revenue will do.
  • Proof of Residence – We just need to verify your current place of residence. A piece of mail like a utility bill will do, just make sure you keep the envelope with your address on it!
  • Photos of Your Vehicle – Take several photos of your car. Taking them outside during the day will yield the best results.
  • Vehicle Title – Although ultimately your name does need to be on the vehicle title, don’t be discouraged if you cannot find your vehicle title or if your name is not the only one listed. We still may be able to help you.

Head on over to our homepage and inquire about a LoanMart a car title loan today!

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