A car title loan permits you to borrow money against the title of your vehicle depending on the value of your car and its equity. Not all title loan lenders are the same, some may add so many high fees that it can cause someone who was already facing financial difficulty in an even worse situation. If you have become the victim of one of these lenders, it is possible to get your finances back in order by refinancing your title loan with a company that will treat you with the respect you deserve. Read more about car title loans at https://www.investopedia.com/terms/t/titleloan.asp. Next, let’s look at what is title loan refinancing?
Refinancing your title loan to a lower interest rate can lower your payments and help you pay off your title loan more quickly. It can also prevent you from defaulting on your loan which could lead to repossession. Just like the initial car loan, you do not have to undergo a credit check and the application can be completed in just a few minutes.
In order to refinance your title loan, you simply need to provide paperwork from your existing car loan and complete a new application. The title loan company then checks the status of the existing loan and reviews whether your current lender has placed a lien on your vehicle. They may request an inspection of the vehicle, depending on the year, make and model. Once the application has been processed, the new lender will pay off your existing car loan and you get to keep your vehicle. You may even be eligible for additional cash if what you owe is less than the value of your car.
Requirements to apply for a car title loan are as easy as anything you can think of with TFC Title Loans. You do not need to waste time searching for bank statements, once you are 18 years and above and you have a few documents listed below; you are qualified to apply for a car title loan.
Your vehicle is one of the most important requirements; the vehicle along with its equity will be assessed by our expert staff to determine how much you qualified for. The resale value of your car will determine how much you can get from us. However, you won’t need to park your car with us. Once we’ve determined the amount you qualify for, you can drive away your car.
The car must be registered in your name, and the title must indicate that the car is registered in the city where you are applying for the loan. The car must be paid off and without liens on it.
Be an Adult
You must come with a valid government-issued identity card; driver’s license and passport are perfect examples.
Your address will be required in the process as this will prove that you are a resident of the location. A perfect example to back up your address is the utility bills contain your address. Electric bills and cable bills are a perfect example.
Proof of Auto Insurance
Since car title loan permitted you to drive your car during the loan period, we need to be sure that the vehicle you are using as collateral is insured. This will limit our risk, should anything happen to the car during the loan period.
Proof of Income
We don’t just lend you money to put you in another difficult situation so, this document is important as it helps us to schedule a repayment plan that will suit your source of income. It is majorly needed for your own comfort.
This is the initial stage of the process, it requires that you fill and submit a simple online application which entails your basic contact information and the car details such as manufacturing year, model, manufacturer, and mileage. This detail will give an insight into how much you can get with your car.
Immediately you submit an online application, a loan agent will be dedicated to you to determine how much you qualify for; taking into consideration the resale value of your car. This is done within couples on minutes usually 15 min or less.
Bring all necessary documents along with your vehicle to our office
Your check or cash will be available the same day without any delay.
Now that you know what is title loan refinancing, contact us today to see how our lower interest rates can reduce your monthly payment and help you pay off your loan quickly, saving you money. You can visit us online, reach us by phone or stop by our office to see how we can help you with a title loan refinance.
Few steps and you already have the cash in your hand! Our application is easy; you can apply online, call 844-242-3543, or walk into any of our offices near you. You can always contact us on the phone for any help regarding your application.
We know you need fast cash to aid your planning and that’s what we do when you choose us as your loan lender. We offer you fast money as long as you meet our requirements. You can get the money you need without any hassle the same day you applied for the loan.
Great Customer Service
Even while we are offering you helping hands, we still do it with courtesy. Our staffs are well trained to attend to your need without keeping you waiting, once you have all the required documents as mentioned above, you can access our car title loan without any stress. We are always discreet about any information you submit to us and we treat them as confidential as we can. We will tell you all you need to know about the loan and ensure that you understand all prior to the signing of the loan contract. We are always available on phone1-844-242-3543 should you need any help.
Most of our competitors try as much as possible to be on a safer side so they will offer you 30 to 50% of your car resale value but, we are distinct, we take a high financial risk to satisfy our customers. We will offer you up to 85% of your car value and you can get up to $50,000 depending on the value of your car.
Keep and Drive Your Vehicle
You need your vehicle for your comfort on a daily basis. So, when you get a pink slip loan from us, you keep your car while you owe the loan to us. We put you first and that is why we designed our title loan to offer you money without causing any havoc to your lifestyle.
Our title loan is cheaper when compared to other types of loan especially loans from payday, banks, and cash advances. This can be attributed to our low-interest rates. We offer you low interest because it’s a secured loan as your vehicle serves as the security for the loan.
No Hidden Fees, No Prepayment Penalties
We ensure that you understand all the details in our drafted loan deal including the amount payable, capital, interest, and repayment break down before you sign the loan deal, there are no hidden fees apart from the one you sign in the loan deal.
Use Multiple Car Titles if Needed
When you need huge urgent cash that a car resale value cannot be enough to get you, you can use different cars to serve as the collateral. However, it is important for you to be sure that you will be able to repay the loan as default may result in losing your cars.
No Credit Checks
Unlike banks and other conventional loans that regarded credit check as a top priority, TFC Title Loans do not need your credit reports, we may check but it doesn’t disqualify you for a loan. Car title loans are obtained using your vehicle title as collateral, so without your credit scores, we still feel relax and have full confidence in you that you will make your payment on time. Learn more about car title loans with no credit check.
Pay On Time, Pay Less
We do all we can to ensure our customers’ satisfaction, we offer a long period as long as 24 to 48 months for repayment and also schedule a repayment plan in accordance with our customer source of income. But vast majorities of our customer repay their loan on time and pay less interest. We told them the amount to pay and when to pay. We offer loan renewal for our clients who are unable to pay at the right time. This permits them to pay only the interest and renew the capital into a fresh loan.
Refinancing is the replacement of an existing debt, like a loan, with another debt under different terms.
Yes, you can refinance your title loan. When you refinance a title loan, you have the opportunity to receive lower interest rates and a better experience from a new lender.
A title loan is a type of secured loan where a potential borrower uses their car title as collateral for the lender to use if the loan can't be paid off. The car title is given back after the loan has been paid in its entirety.