A registration loan is a type of funding that is only available in Arizona. When you get a registration loan, you use the registration to your vehicle as collateral, so you can borrow money. The loan is expected to be paid back in full in a short amount of time, and these loans typically come with high interest rates.
Why are registration loans only available in Arizona?
The answer is quite revealing. Registration loans are very similar to payday loans. Payday loans are a type of funding where the borrower is also usually expected to pay back the loan in full in a short amount of time. Registration loans also come with very high interest rates. Since payday loans are no longer allowed in Arizona, registration loans act as kind of a loophole. Many companies in Arizona who used to offer payday loans as their primary lending method switched to registration loans, both of which are unsecured loans. That kind of sales tactic is something you might want to stay away from.
Consider a car title loan instead. A car title loan is a way to use your qualifying vehicle title as collateral to borrow money. With car title loans from LoanMart, you can enjoy competitive rates and convenient terms and do not always come with registration loans1.
Why Car Title Loans Are a Smart Way to Borrow
When you get a car title loan, you are using the money that you have already invested into your vehicle to secure the loan, so you have already done the hard part. All that’s left to do is reap the rewards of your wise decisions.
LoanMart is one of the best lenders to get a car title loan from. We have over 150,000 satisfied customers2. Check out our customer testimonial page to see the personal stories our customer have sent into us. Car title loans can help your life is many different ways!
How to Get a Car Title Loan from LoanMart
- Click – Call – Visit
Pick how you get started with your LoanMart car title loan. You can go to our homepage and click on the “APPLY NOW” link, or try the convenient live-chat feature that is also located on our homepage. You can also email us at customerservice@800LoanMart.com, call us at (877) 237-5530, text us at (818) 315-8741, or you can even stop by our licensed location to speak with a LoanMart representative in person.
First, you will fill out a quick information request. We’ll ask you some information like:
- Name and date of birth
- Address and email address
- Phone number where we can best reach you
- Year, make, model, style, and mileage of your vehicle
- How long you have lived at your current residence and if your rent or own
- Total monthly income from your job and otherwise
- Social security number or Individual taxpayer identification number
- Get Approved1
Upon the successful completion of your information request, your LoanMart title loan agent will contact you with your FREE QUOTE and some of the details of your car title loan contract. Next, they will request a few documents from you. Your agent will tell you everything we need, but here are the essentials:
- Government issued form of photo ID
- Proof of residence
- Proof of income
- Several photos of your car
- Title to your vehicle with your name on it (however, don’t be discouraged if you cannot find your title of it your name is not the only one listed, we still may be able to help you)
- GET PAID
After LoanMart has received your documents and processed your information, it is time to sign your car title loan contract! When you do this, LoanMart will also sign onto your vehicle title as a lienholder, but only for the duration of your loan period. This is so you can KEEP YOUR CAR during your loan period when you make your monthly installments.
Choose to receive your LoanMart car title loan funding one of several ways:
- Direct deposit
- Money Gram
- Stop into our licensed location and get your money in person