Yes, it is possible to have two registration loans. In fact, one person can have up to six registration loans in their name at the same time. While having two registration loans or more could provide much funding for yourself, there are some major downfalls that come with registration loans. Having one could be extremely risky, let alone having multiple!
Let’s break it down: say you had the maximum of six registration loans each funded for just $300. This would make your initial loan amount around $1,800, which seems like a convenient amount of funding. But, this kind of financial assistance can end up costing you big time in the end.
Registration loans (whether two registration loans or six) usually come with very high interest rates and short payback terms. Furthermore, there are typically no caps on how high the interest rates on a registration loan can be this means that the interest rate on just one registration loan can reach up to 300%! If that wasn’t bad enough, the payback terms on a registration loan are generally very short, usually around 30 days.
So, if you had six registration loans funded for $300 each with a 300% interest rate, that would make your total balance of your loans about $7,200! Because of the major down sides to registration loans, your $1,800 of loan funding can turn into a $7,200 bill you are expected to pay off in a month. No thank you!
You should consider a car title loan instead of two registration loans or even six. At Max Cash, you can get connected with an auto title loan lender that doesn’t have to have all the hassles of traditional lenders and registration loans!
Benefits of Max Cash Connected Auto Title Loans Compared to Two Registration Loans
Max Cash is the broker people come to when they want to get connected with the leading non traditional lenders in the industry.
Check out just some reasons why people all over the country come to Max Cash for fast and convenient funding2.
- High approval – Are you tired of constantly getting rejected by lenders who only seem to care about your credit score? Finding the funding you need can be difficult when your credit score isn’t as high as you would like it to be, but with Max Cash that doesn’t have to be a problem! We look at other factors such as your ability to repay the loan and the equity value of your vehicle when we decide to accept your auto title loan inquiry. People with all kinds of credit score are approved for their Max Cash connected auto title loan every single day!
- Convenient terms and competitive rates4 – Don’t worry about scrambling to payback your loan when you work with Max Cash. We work with the top notch non traditional lenders in the business, and they know how to cater to your needs. Most lenders will even create a payment plan using their convenient terms, usually lasting around 12 48 months, along with using their competitive rates! This means that your monthly installments can be spaced out so chipping away at your auto title loan balance is no sweat!
- Friendly and helpful customer service – Nothing is more frustrating than having a simple question and nobody around to give you a solid answer. Max Cash won’t leave you hanging, so we have qualified Max Cash representatives available 7 days a week with extended hours! Never hesitate to call your Max Cash auto title loan agent if you have absolutely and questions, issues, or general inquiries about your auto title loan process.
How to Get an Auto Title Loan with Max Cash
Getting the money you need when you need it is simple and easy when you go with Max Cash. Here’s how you can get your money in a fast and convenient way:
- Fill Out Your Information
Head on over to the Max Cash homepage to fill out your initial information request. The whole form should only take about 5 minutes to fill out. We will ask you some general questions, and you will find out if you are approved right away!
- Send in Your Documents
After you are approved for your auto title loan, Max Cash will connect you with a fantastic lender near your area. Next, your car title loan agent will typically request a few documents from you. These will include:
- Government issued form of photo ID
- Proof of income
- Proof of residence
- Vehicle title with your name on it
- Photos of your car
In some cases, your auto title loan agent might ask for some additional documentation, but this is just to clarify your information.
- Receive Your Money the Way You Want It
The last step of the auto title loan process is to sign your contract! At this time, your lender will also sign onto your vehicle title as a lienholder but note that this is just for the duration of your loan period, when your auto title loan is paid off you can certainly get your car title back.
Choose to receive your helpful auto title loan money in one of the following ways:
- Electronic deposit
- Check
- Money gram from a Walmart cash center
- Stop by our licensed location and receive your money from your lender in person
Your path towards financial success starts now, get started on your Max Cash inquiry today!