What if I have bad credit, can I still get a registration loan from Cash Time? Yes, bad credit or no credit is OK.
Accordingly, are registration loans legal in Arizona?
Registration loans are a type of financial instrument unique to the State of Arizona. … The state law allows for a single borrower to have up to five registration loans at any one time.
Correspondingly, how many registration loans can you have in Arizona?
What do I need for a registration loan in Arizona?
To apply for a registration loan in-store in Arizona, you will need the following:
- Phone number.
- Your valid vehicle registration.
- Valid, government-issued ID.
- Proof of a steady source of recurring income, such as employment, disability, retirement, self-employment, or another income source.
In Arizona, there is only security on a title. You can’t secure a loan to a car’s registration. Typically, if you default on a Registration loan, the lender will sue you in court in attempt to recoup their money. If the lender obtains a judgment, then they can look at wage garnishment or bank levy.
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.