No. A registration loan lender does not have the legal ability to repossess your vehicle should you default on your registration loan or miss a payment. When you get a registration loan, you only present the registration card of your vehicle to the lender so your car cannot be taken away from you if you don’t make your registration loan payments.
Instead of repossessing your car if you happen to default on your registration loan, the registration loan lender could sue you for your car or the remaining balance on your registration loan plus interest. This could leave you with lawyer bills and court fees that can put you even more in debt!
It is very possible that you could default on a registration loan because they almost always come with extremely high interest rates and very short terms. When you are trying to manage a strict budget, you don’t have time for sketchy loan lenders who are just out to get your money.
Consider a car title loan instead! Car title loans from Max Cash Title Loans2 come with competitive rates and convenient terms4 that can allow you to achieve your financial goals. Lose the unnecessary hardships that can come with registration loans and come work with Max Cash Title Loans, a company that cares about you!
Can a Car Title Loan Repo Your Car?
While a car title loan can repossess your car, the lender Max Cash Title Loans connected you with might work with you to make sure that doesn’t happen. Your auto title loan lender will usually work with you to determine the best loan contract and payment plan for you, to make sure that you can manage your monthly payments. When you stay on top of your monthly installments on your car title loan from Max Cash Title Loans2, you won’t have to worry about your car being repossessed!
Max Cash Title Loans will not sue you for your car if you default on your loan. Instead, your car will be taken to a secure tow yard where it will stay until you have the funds to get it out. If this happens, your lender might continue to work with you. They probably can create an entirely new payment plan that works better for you. Other lenders might just drop you and leave you figure out your finances on your own, but lenders provided to you by Max Cash Title Loans won’t give up on you!
How You Can Get a Manageable Car Title Loan Provided by Max Cash Title Loans
The Max Cash Title Loans car title loan process2 is simple and easy! Here’s how it works:
- Click Call Visit
To get started on your Max Cash Title Loans car title loan, just go to our homepage and fill out a quick information request, or you can even stop by our licensed location to speak with us face to face.
We’ll ask you to complete a small form, the whole thing should only take about 5 minutes. Some information we will ask for is:
- First and last name
- Cell phone number (or phone number where we can best reach you)
- Date of birth
- Email address
- Address of current residence
- If you rent or own at your current residence
- How long you have lived at your current residence
- Year, make, model, style, and mileage of your car
- Gross monthly income (from your job and all other sources of personal income)
- Social security number or individual taxpayer identification number
When you are finished with your small information request, you can find out if you are approved right away! We know you don’t have time to waste so Max Cash Title Loans gives you answers fast.
- Talk to Your Max Cash Title Loans Agent
Once you are approved your Max Cash Title Loans auto title loan agent will connect you with a lender who will want to discuss your free quote. At this time your agent will also work with you to determine the best rates and terms4 that fit your budget and lifestyle. We move at your pace, which means that Max Cash Title Loans won’t go through with a car title loan process2 unless you feel totally comfortable with your contract.
When you decide to proceed with your car title loan, your agent will request a few documents from you. Once we have received your documentation they can begin drawing up your loan contract! Some documents we will need are:
- Government issued form of photo ID
- Proof of income
- Proof of residence
- Title to your vehicle with your name on it
- Several photos of your car from multiple angles
Your car title loan agent will inform you of everything you will need, but it is good to have these basic documents on hand to make the title loan process move swiftly.
- Get paid
Sign your car title loan contract and get your money! At the time of your title loan contract signing, your lender will also sign onto your vehicle title as a lien holder. But this is just for the duration of your loan period. From there you can pick how you receive your money:
- Electronic deposit
- Money gram from Wal Mart cash centers
- Stop by our licensed location and receive your money in person
Registration loans can be a hassle. Ditch all the problems and strings and come to Max Cash Title Loans instead! Our friendly and experienced title loan agents are waiting to help you!