If you have an existing auto title loan and want to refinance a title loan this article will walk you through on the steps you need to take. First and foremost, you must know that the laws regarding car title loans varies by state. Use this resource here to learn about how it works in what state you are in.
Once you know the laws then you can proceed to refinance a title loan. So, with that in mind here are the steps you are going to have to take.
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First, you must have a car that can qualify to become re-financed. If you have an original title loan then you probably had no lien on your car to begin with and it was paid off. So, to refinance your existing car title loan you will likely need the following information for a lender to work with you:
At The Net Lender we can help you refinance your current auto title loan. While there are no guarantees your vehicle will qualify there is no risk, no hassle, and no pressure from our friendly staff. You can find out in as little as 10 minutes what your vehicle may qualify for. We work with several different lenders who can help you refinance your existing loan.
Once you call in our staff will take down your information, and then pass you along to a loan officer. The main requirement to refinance a title loan is that the lender must deem you a good risk or investment. To put this differently: The lender must feel that once your car title loan is refinanced, there is enough equity in the vehicle for them to make a loan against it. A car title loan works by borrowing against the equity in your car, pickup truck, or SUV.
I am the head of the household and I know that pressure one can get from bills and discrepancies in your credit. I used my car I bought before I got married and it turned out to be such a lifesaver for me. I took out about half of what I was offered and wasn’t pressured any further. Thank you and hopefully my car will be eligible again if need be.