Car title loans are a type of secured lending which works by using the borrower’s vehicle as collateral. If you are thinking about applying for one you may be wondering whether you can have two title loans at the same time. The answer to that question is a little complicated. Although one person cannot have more than one title loan at a time, there are different options available.
When looking for your first or second title loan, start with experts of Max Cash® Title Loans and the lenders that we work with. To learn more about the title loan process, and on the team at Max Cash Title Loans call (855) 561-5626.
Can You Have Two Title Loans?
Although a person can only have one title loan at a time, there are a few options to consider:
Refinancing an Existing Car Title Loan
If you already have a title loan, refinancing your existing loan could mean more cash with a higher loan, better interest rates, and more manageable loan terms.
The refinance a new loan amount is taken out and then used to pay off the existing loan. Any amount of money that is leftover, you can use.
Having Someone Else in the Household Take out a Vehicle Title Loan
If a spouse, partner, or family member has a different vehicle that they own, with a clear title they can use it to take out a title loan in their name. If they are approved, that could mean more funds for the household.
Getting a Second Title Loan After Paying Back Your First Title Loan
Once you have completed full repayment with your existing title loan company, and the lender has released themselves from the title, then you can go ahead and apply for another loan. You can choose to work with your existing auto title loan company or look for a different lender.
Why Work with Max Cash Title Loans for a Car Title Loan?
Whether you are taking out a title loan for the first or second time, the best place to start with Max Cash Title Loans and the lenders that we work with.
Here are some of the benefits of the title loan process:
Apply Regardless of your Credit Score or Credit History
Unlike traditional loans (personal loans, credit cards, etc.) having bad credit is okay! The main reason for this is that lenders will focus on the value of your vehicle and income. And so, no need to be hesitant about a credit check and credit criteria.
A Fast and Simple Application Process
The inquiry process with Max Cash Title Loans is meant to be fast and hassle-free. Applying for pre-approval only takes a few minutes and applying within our network takes about an hour.
Once approved for a title loan the loan proceeds can be made available as soon as 24 hours!1 2 Along with providing quick cash, the process is made to be extremely simple, about 3-4 steps!2
We Can Help You with the Refinancing Process
From start to finish, if you are refinancing, we can help you with the entire process. We can even help you with the Department of Motor Vehicles (DMV).
All the title loan lenders that we work with come with highly competitive interest rates.4 This can mean huge savings over time.
Online Title Loans
One of the most convenient parts of the title loan process when working with Max Cash Title Loans, is that everything can be done from the comfort of home, online.
Low Monthly Payments4
Since car title loans are installment loans, there will be a payment each month. The monthly payments with the loans that we service are low.4 If you want an estimate of the payments with your title loan could look like, you can use our loan calculator.
Friendly Customer Service
All of our loan agents are extremely helpful and are happy to answer any questions or concerns about title loans. We are open seven days a week and can be contacted online, or through the phone.
When it comes to repayment, with the lenders we work with you could get a short-term loan— a few months, to a longer loan—up to a few years.4 Talk to your loan agent about the type of loan you are looking for. There are also no prepayment penalties with your title loan.3
No Hidden Fees3
When paying back a title loan, you won’t have to worry about hidden fees!3 All the expenses that will be a part of the loan agreement, so no surprises.3
Apply for a Car Title Loan Right Away!
Max Cash Title Loans, a title loan referral service is the best place to begin when looking for a title loan, regardless of your financial needs. To get started right away, simply head online and apply for an online car title loan or give us a call at 855-561-5626. Once approved you could get the funds you need in as little as one business day!1 2