Title vs Registration loans

Date: Wed, 05/30/2012 - 08:52

Submitted by anonymous
on Wed, 05/30/2012 - 08:52

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Total Replies: 4

I am trying to figure out the difference between the two, as I live in AZ and payday loans are no longer legal so they have title loans and registration loans. I don't understand what the difference is. My husband and I have 5 registration loans total, there is nothing on my title that shows any of them as a lein holder other than the finance company I got my car from, my question is what will happen if we don't pay? We can't afford it as I am off work due to illness and with the cost of my meds and now no insurance we can't afford the payments any more. We also filed bankrupcty and the lawyer said to find out if the loans hold my title, which they don't. So I am confused on what to do.

You can check out the following page to know about the differenc

You can check out the following page to know about the difference:

"http://pawn1st.net/title-loans/requirements-for-title-loans-registration-loans-at-pawn1st-in-arizona/"

You need to have a vehicle to qualify for a title loan. However, in case of a registration loan, you only need to have a vehicle registration.

lrhall41

Submitted by on Wed, 05/30/2012 - 20:18

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Title loan - New car, registration held by financier, title held

Title loan - New car, registration held by financier, title held by owner, usually a high value loan.

Registration loan - You can get them on older cars, usually a low value loan, somewhere around 10% of resell value, you will need to hold both title and registration of the vehicle to avail the loan.

lrhall41

Submitted by NathanielCopeland on Wed, 05/30/2012 - 21:59

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Still tryin to sort it all out.

That is what I thought, and they never took my registration, but the one place said that they can repossess my car if I do not make my payment, I don't understand how they can take it since I don't own it and neither do they. I have left several messages for my BK attny and have no recieved any word....I think I need to find a new attny.

lrhall41

Submitted by on Thu, 05/31/2012 - 09:07

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BK Attorney

If you need a good BK attorney in Arizona, call Ken Neeley at 480 802 4647. He helped me last year, and he was awesome. I'm sure he could answer this question for you.

-Tim

lrhall41

Submitted by on Mon, 06/11/2012 - 09:51

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