Here, at TFC Title Loans, we occasionally get the question “ how many title loans can you have?” and it is a good question to ask.
We know that you may need that! And many other questions answered. We’ve taken it upon ourselves to get you the information you need.
We are extremely devoted to lender transparency and consumer education. And, it is for this reason that we have been working hard to expand our website’s reach. We also use a purpose with a new wealth of informative resource articles. All of which are designed to answer our current and future customers’ questions.
Ever since we first opened our doors in 1994. We’ve helped thousands upon thousands of customers obtain Car Title Loans! And, on occasion, we’ve helped customers receive multiple car equity loans. Even if they had more than one vehicle! Some of those customers we’ve helped have refinanced their title loans from other lenders with us. This is because we could offer them better rates and friendlier customer service.
If you are interested in what circumstances can allow you to take out more than one title loan, then please continue reading to learn more. Interested in applying for your first title loan? We would like to redirect you to the homepage of our website! Here, you will find our quick and easy online application. You can fill out in under five minutes today!
Unfortunately, you may only have one lien at a time placed on your car title. Therefore, it is impossible to have two lienholders on one car-title at the same time. There cannot be two claims of collateral in one car. Having two lienholders on one car title? It makes it impossible for that car to act as collateral. This is for either loan as the car’s value could not be split into two if the loan were to default!
It is possible for families with two separate vehicles to get two different title loans. Each of which is obtained through the collateral value of each vehicle. We have heard many times of two spouses deciding to take out a title loan on each of their individual vehicles to obtain the money that they needed from the loan.
You can have as many title loans as you have cars as long as the name of the person obtaining the title loan is the name that appears on the title of the car. If you do decide to take out more than one title loan on more than one car, it is extremely important to know for sure that you will be able to afford the monthly payments of each loan. It would also be wise to strategize beforehand how you plan to pay off the loan as quickly as possible, prioritizing the auto title loan that has a higher interest rate of the two.
Looking into a second title loan because you cannot afford the payments for your first? You ought to consider refinancing with TFC Title Loans! Even though we cannot give you a second title loan on one car when you already have one with another lender? We can still help you out by performing what we call, in the title loan business, a buyout. We can pay off the remaining balance of your previous title loan. Then, we get the title from your previous lender. Lastly, we’ll give you more affordable monthly payments, better interest rates, and maybe more money!
Read more about a buyout via https://www.bankofamerica.com/auto-loans/lease-buyout/.
If you are interested in refinancing your auto title loan with TFC Title Loans, then fill out our online application or give us a quick call today. We would love to work with you to make your life a little bit easier. Now you know how many title loans can you have!
No. You cannot have more than one title loan at the same time on the same vehicle.
Yes. It's entirely possible to have two different car title loans on different vehicles at the same time. You will need to check with the lender to identify your rates and fees.
You can have as many auto title loans as you have cars. However, it's as long as the name of the person obtaining the title loan is the name that appears on the title of the vehicle. It's advised you ensure you're able to afford monthly payments if you opt for more than one title loan.