Why Should I Refinance a Title Loan?

February 20, 2019

There are multiple reasons why you would want to consider refinancing a title loan you are currently in the process of paying off. If you currently cannot afford the monthly payment that you are being asked to make, you could potentially get it lowered. On that same note, you may also be able to negotiate a lower interest rate, which would also contribute to having a lower monthly payment to make.

A lower interest rate would mean spending much less time repaying your loan, as you would be able to pay off the principle much faster. However, if you do need more time to pay off your title loan, this is another loan term you could negotiate through refinancing.

How Refinancing Works

Refinancing is the act of taking out another, better loan to repay the balance that you currently owe on a loan you are in the process of repaying. Sometimes your refinancing lender will take care of the last of the loan repayment for you, or instead they will give you the money and then you can send it in to your old lender to square things away.

If you are concerned that refinancing your title loan is a complicated process, you do not need to be. Refinancing a title loan actually works almost identically to taking out a title loan for the first time. The things you will need to do when refinancing with the loan facilitation services of MaxCash include:

Applying for a New Loan

When you apply to refinance your title loan, visit the MaxCash online inquiry form to file for a new title loan. When we get in touch with you, let us know that you are interested in refinancing a current loan rather than taking out a brand new one altogether.

Have the Same Documents Ready

Just like when you applied for your initial title loan, you will need to have a set of documents that will confirm your identity for both MaxCash as well as the lender. For the most part, they will more than likely be the same ones that you used for your last loan. These of course are all government recognized documents, such as:

  • Government issued photo ID
  • Proof of residence (utility bills and government documents that have your name and address)
  • Several clear photographs of your car
  • Vehicle title that is legally in your name
  • Proof of income (like pay stubs and bank statements)

Why Refinance with MaxCash

Refinancing your title loan with MaxCash is one of the best things you could do for your financial wellbeing. We work with all of the best and most reputable title loan lenders in the nation. Work with lenders that will provide the refinancing assistance you need for the best price and terms possible.

Plus, if you need your current title loan refinanced quickly, MaxCash could potentially have you set up with some sweet new repayment terms in as little as a single business day! Talk about fast service!

Some Great Perks of Refinancing Your Title Loan with MaxCash

When you want to refinance your current title loan, there is no better place for you to go than MaxCash. We offer our clients a wide variety of great perks that make the refinancing experience much more convenient and pleasant, such as:

  • Pre-approval can happen in almost no time at all
  • We are open to help you with your refinancing needs 7 days a week
  • Having bad credit or even no credit may not hold you back
  • Complete the refinancing process in as little as one business day
  • Having bankruptcy in your past will also not hold you back
  • There are no penalties that come to you for pre-payment on your loan

Start Refinancing by Talking to MaxCash Today

In order to get the ball rolling to refinance your current title loan with MaxCash, we have quite a few easy methods for you to get a hold of us. Contact us by calling our tollfree number (833) 207-9052.

DISCLAIMER:
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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