No. It is against the law for a lender to provide two title loans to a person that currently has an outstanding title loan balance on a vehicle in their name. You might be thinking, Why? Its my car I should be able to do with it what I want.
However, it is probably not in your best interest to have two title loans out at the same time. Car title loans are meant as a short-term loan. Although they don’t always come with the hassles that come with most traditional lenders, it is best to pay off a car title loan as soon as you can. With any kind of loan, the longer you wait to pay it back, the more you will inevitably pay in interest.
But if you already have a car title loan out in your name and still need additional funding, there are still options for you. If you happen to have a second car that is under your name, you could possibly receive a car title loan, which could allow you to have two title loans. Beware, you would then have to pay two separate interest rates for both of those loans, which might not be in your best interest if you are going through a difficult financial situation.
Don’t be discouraged, there are still more options for you if you are looking for additional funding when you already have a car title loan. Many car title loan lenders offer a refinancing option. That means you can possibly refinance your existing car title loan to get a little extra funding, without having to have two title loans. This could be the most favorable option for you if you need additional funding with a pre-existing car title loan out in your name.
If you want, you can even switch car title loan lenders. Potentially, a new lender might be willing to refinance a car title loan you may have with another lender. This could also be a nice option for you if you are looking to change your payment plan, so it fits better with your financial capabilities.
Why One Car Title Loan is All You Need
When you have the right car title loan, two title loans are not necessary. There are many kinds of lenders, so you want to make sure you choose the best one. Max Cash can help you do just that. Being the #1 nationwide title loans referral service, Max Cash could be able to connect you with a great deal on a car title loan close to your home.
Max Cash has a network of multiple qualified lenders throughout the country. When you are approved, Max Cash can get you in touch with the best deal on a car title loan in your area, eliminating the need for you to take the time out of your schedule to look for a good lender on your own.
One of the best things about working with Max Cash is that its completely free! Yup, that’s right, free! Max Cash won’t charge you anything for connecting you with the best deal on a car title loan. We have an arrangement with the lenders in our network, so we don’t have to charge you a penny for our services.
Some perks that come with Max Cash associated car title loans are:
High approval rate – get approved5, even if you have poor credit!
Competitive rates4 – get an interest rate you can live with and that works for you.
Convenient terms4 – don’t worry about paying back your car title loan right away, many of our lenders offer payback terms ranging from 12-48 months.
No Pre-payment fees – payback your loan when it is convenient for you, even if that is before the due date. Most lenders won’t penalize you for being responsible and making an installment early.
Fast funding – Get the money you need when you actually need it. In many cases, you can get approved and receive your funding as soon as the next business day!
Quality customer support – When you work with Max Cash, you are working with a broker who is there for you. We are open seven days a week from 6am-9pm, call us at 855-561-5626 if you have any questions or concerns about your car title loan processes.
Max Cash can help you get the car title loan of your dreams. It only takes a few clicks to get started on your financial success, so begin your Max Cash car title loan process now!