Can I Get a Title Loan with a Financed Car?

February 20, 2019

When you’re trying to get a title loan, you may be wondering what you can and can’t do with that title loan, as well as under what circumstances you can obtain one.

If you have a financed car, you’re probably wondering whether or not title loan ownership is available, and how you should go about getting a title loan in such a situation. MaxCash is here to answer all your questions and more!

What is the Definition of a Financed Car?

This terminology might be unfamiliar to those new to the financial world, so let’s cover the definition of a financed car before getting into anything else. A financed car is rather straightforward – it’s simply any car that you still owe money on. So long as you’re still paying back a loan on the vehicle, whether it’s your first loan or your fourth, the vehicle is still being financed. So, the question at hand is whether you can get a title loan on a vehicle you still owe money on.

To that question, the answer is yes! So long as you go through the process for applying for a title loan and follow it to completion, you can get a title loan on a financed car just like you would for any other class of vehicle. So then, what is the process of getting a title loan for your vehicle, and how can you get started?

Step 1: Title Loan Online Inquiry

Your first step in the title loan process will be to make your way onto MaxCash’s website. Once there, you’ll need to track down their title loan page, which we’ve gone ahead and linked here for your convenience. Once there, you’ll be asked for some specific types of information, all of which will be useful for tracking down your potential lenders. The information they’ll be asking for will include:

  • Your General Address – They won’t need anything as specific as your home address but having a general idea of your location in terms of city, state, and zip code, will be necessary.
  • An Estimate of Your Monthly Income – Depending on whether you’re able to afford it monthly, your loan could be big or small. An estimate of how much you earn each month will give lenders a ballpark estimate of how much you can pay each month.
  • Your Contact Information – In order to get in contact with you, MaxCash will need to obtain some contact information. Just your name, phone number, and email will do.
  • Your Vehicle’s Statistics – Finally, the last thing you’ll need is the stats of your vehicle. This will include information such as the make, model, year, and mileage. This will determine your vehicles value, as well as the worth of your title loan on it.

Once you’ve finished providing all this important information, you’ll have completed the first step towards obtaining a title loan. Almost immediately, MaxCash will be putting that information to good use, as you’ll soon see.

Step 2: Tracking Down and Negotiating with Title Loan Lenders

Once they’ve got your information, MaxCash will waste no time helping you find a lender. First, they’ll use your provided address information in order to find out what lenders are available in that specified area. These lenders in the qualifying zone will be presented with your financial and vehicle information before being asked whether or not they’d be interested in working with you.

Once your lender options are discovered, MaxCash will record the best loan offers, taking into account the best interest rate or best monthly payment. These highlights will then be presented back to the interested lenders, who will be asked if they’re willing to match or do better than those offers. Want to learn the art of haggling yourself? Check out this article to learn how to start improving your own negotiation skills.

Eventually, one lender will make a deal none of the others will be willing to match. This loan offer will compliment your unique financial situation.

Step 3: Contact and Conclusion of the Title Loan Process

Once your perfect lender has been located by MaxCash, they’ll put the two of you in touch with each other. There are two methods by which you can interact: over the phone or via email.

Once you establish a mode of communication, you’ll be ready to do the final phase of the process: signing the loan contract. You’ll discuss the loan details with the lender and after signing the loan contract, you’ll be able to receive your funds.

There are 3 ways to receive your money, including: visiting the lenders store in person to pick up the money, having a check sent in the mail, or having the money deposited into an online account of your choosing.

As you can see, in just 3 steps, you’ve gone from a loan-less financed vehicle to having a title loan ready and waiting on your financed vehicle. With the help of MaxCash, you’ll have received an amazing loan deal. Want to get involved? Find out more on MaxCash’s title loans page!

The MaxCash website does not offer or provide loans, but rather, it offers a service. It should not be construed as a lending agent or broker. The site does not endorse any lenders and does not charge visitors any fees. The website owners do not evaluate potential lenders’ applications, nor do they approve or deny credit. The MaxCash website does gather applicants’ personal information and transmits it to lenders that are part of the site’s lending network. No one is required to make use of this website, nor are they under any obligation to begin contact with site operators or to attempt to secure a loan with any of the site’s lending partners. Transmission of your financial and personal information on the website in no way obligates lenders to offer you a loan or any other kind of credit product. Be aware that cash transfer times can vary, depending on the lender and the bank you use. It may be necessary to fax information under certain circumstances. All questions about loans, and any concerns you may have should be directed to your lender. These loans are intended as short-term financial solution to satisfy borrowers’ needs for immediate monetary relief. This is not intended to be part of a long-term financial plan for individuals. These services are not offered in all states. Potential borrows may undergo credit check if lenders choose to use any of the major credit reporting bureaus, including Equifax, Trans Union and Experian. They may also use other alternative sources to check credit ratings. Your request for a loan constitutes your agreement and acknowledgement that (A) your personal data may be shared with lenders and perhaps other third-party partners, and (B) lenders can acquire credit bureau reports that detail your credit history. Reports from major credit bureaus, such as Equifax, Experian and TransUnion may be obtained and used to evaluate your reliability as a borrower.

1Loan amounts by the lenders vary based on qualifications.

2Since we do not lend money directly we cannot offer you a solicitation for a loan. In all serviced states we WILL match you with a lender based on the information you provide on this website. We will not charge you for this service and our service is not available in all states. States that are serviced by this Web Site may change from time to time and without notice. Personal Unsecured Loans are not available in all states and all areas.

3Loans such as, Auto Title Loan companies typically do not have pre-payment penalties, but we cannot guarantee that every lender meets this standard. Small Business Loans typically do have pre-payment penalties and occasionally will use your car as collateral to secure the loan. Other types of loans may have pre-payment penalties as well.

4All lenders are responsible for their own interest rates and payment terms. Max Cash has no control over these rates or payments. Use of the work competitive or reasonable does not mean affordable and borrowers should use their own discretion when working directly with the lender.

5The amount of people who applied for a loan and we helped and those who received a loan is not the same. We cannot guarantee we will find a lender who will fund you. Just because you give us information on this web site, in no way do we guarantee you will be approved for a car title loan or any other type of loan. Not all lenders can provide loan amounts you may see on this web site because loan amounts are limited by state law and/or the lender. Some lenders may require you to use a GPS locator device on your car, active all the time, in the circumstance for an auto title loan. They may or may not pay for this or charge you for this. This is up to the lender and we have no control over this policy of the lender. Typically, larger loans or higher risk loans use a GPS.

In some circumstances faxing may be required. Use of your cell phone to receive updates is optional. Please review our privacy policy.

Loans such as Car Title Loans are expensive and you may have other ways to get funding that is less expensive. These types of loans are meant to provide you with short term financing to solve immediate cash needs and should not be considered a long-term solution. Residents of some states may not be eligible for a loan. Rejections for loans are not disclosed to our firm and you may want to contact the lender directly.

Signature and personal loans are only available in Georgia and Florida. Loan amounts differ at locations. Account approval requires satisfaction of all loan eligibility requirements, including a credit inquiry, and, if applicable, motor vehicle appraisal.

Car Title Loan lenders are usually licensed by the State in which you reside. You should consult directly with these regulatory agencies to make sure your lender is licensed and in compliance. These agencies are there to protect you and we advise making sure any lender you receive money from is fully licensed.

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