No. Since registration loans do not require the borrower to present a vehicle title at the time of the loan, the lender has no lien possession over the vehicle. However, this does not mean that there are no consequences to defaulting on a registration loan. In fact, you could face some major problems if you fail to pay the ridiculous terms and conditions that can normally come with registration loans.
Registration loans are unsecured loans, known for their high interest rates. If this wasn’t inconvenient enough, registration loans are also usually accompanied by extremely short terms—which means that if you do not pay back your loan in full within a brief period of time, your loan balance will most likely get larger and larger each month.
It is even possible for one person to have multiple registration loans in Arizona, increasing the risks attached to this uncertain method of borrowing.
An auto title loan can be a much more reasonable way to receive financial assistance. When you get an auto title loan from LoanMart, you could even receive funding as soon as the next business day3!
What is the Difference Between a Registration Loan and an Auto Title Loan?
While a registration loan is a type of unsecured funding that requires a vehicle registration, an auto title loan is a type of secured funding that uses a vehicle’s title as collateral.
Unlike most registration loans, auto title loans from LoanMart do not come with come sky high interest rates and short payback terms. Instead, you can enjoy convenient terms and competitive rates when you receive financial assistance with LoanMart1.
Here are a few reasons why LoanMart auto title loans are superior to registration loans:
- LoanMart auto title loans have convenient terms ranging from 12-48 months
- LoanMart has competitive rates and will work with you to determine the best rates for your personal budget1
- Auto title loans are more accessible than registration loans because they are offered in multiple states
How Can a LoanMart Auto Title Loan Help You?
Auto title loans from LoanMart can help you do anything from getting you and your family out of debt to setting yourself up for success in the future. Check out just some of the ways a LoanMart auto title loan could help you out in your life:
- To send money over to loved ones
- To catch up on medical bills
- To pay for the childcare you need while you are out working
- As a down payment for a new home
- To get ahead or catch up on upcoming bills and payments
- To set aside as savings for the future
- To pay for sudden and necessary home repairs
- To purchase home appliances such as a refrigerator or a clothing washing machine
Scroll through our customer testimonial page and to read through the personal stories our customers have sent to us. Learn how LoanMart has helped changed the lives of people all around the United States!
Who Can Get an Auto Title Loan with LoanMart?
Virtually anybody can get an auto title loan from LoanMart! Unlike other traditional lenders, LoanMart has a high approval rate so we can accept loan inquiries from anyone!
Sometimes, people can be apprehensive about auto title loans because they are afraid their credit score will hold them back. You can check those worries at the door when you come to LoanMart. Since LoanMart has a high approval rate, we can accept people with a wide variety of credit scores1. Don’t be discouraged from auto title loans if your credit score isn’t as high as you would like it to be, people with all types of credit are encouraged to apply.
If you would like even more details about how you can get approved for an auto title loan with LoanMart, you can call us at 1-855-422-7412, email us at email@example.com, hop on your home page and try the convenient live chat feature that you will find on the side of the screen, or you can stop by our licensed location and speak with a LoanMart representative.
Where You Can Get a Title Loan from LoanMart
While registration loans are available in one state, Arizona, auto title loans are offered in many state throughout the United States. At LoanMart, you can get an auto title loan in the states of Alabama, California, Georgia, Missouri, New Mexico, South Carolina, Utah, as well as in Arizona.
To get started on an auto title loan from LoanMart, you can fill out a small information request on our website. The whole form should only take about 5 minutes, and you will know if you are approved right away3!
From there you will be contacted by your LoanMart title loan agent who will give you your free quote and request a few documents from you. Once we have your information and documentation, we can draw up your contract for you to sign. The entire LoanMart auto title loan process can be completed in as little as one business day3!
Ditch the stresses and hassles that can come with registration loans and inquire about a stress-free and convenient LoanMart auto title loan today!