When you need a sizable sum of money in a hurry to take care of an unexpected bill or expense, you might not know what options are available to you to get you out of financial hot water. A car title loan may be just the thing you need! You may even keep driving your car during loan repayment with the help of Max Cash® Title Loans.2 5
Can I Use My Car When I Get a Title Loan?
Absolutely yes! Car title loan lenders understand that in order for you to pay back the loan they have provided you, you need reliable transportation to get to work where you make the money to do so. It would be counterintuitive to take your vehicle away from you until you have paid back the money. You may keep driving your car just as long as you keep up on paying the convenient monthly payments.
Is There Any Way I Could Get My Car Taken from Me?
Unfortunately, there is. There does exist the possibility of your car getting repossessed when taking out a car title loan. However, repossession will only occur if you frequently miss loan payments and do not notify the direct lender. If you are having trouble paying, consider asking for an extension on the payment or ask the lender to reevaluate your terms. Once repossession happens, your vehicle will be sold by your lender to make back the remaining loan amount.
Avoiding Repossession of Your Vehicle
Without a shadow of a doubt, the single best way for you to avoid repossession by your lender is for you to keep up on your monthly payments. That said, even if you are unable to pay the full amount, any amount being repaid is a good amount. By keeping the money coming in to your lender, it will show them that you are making an effort to keep up on your payments.
Even if the amount of money that you pay is just a partial payment, those payments could keep you in better standing with your lender. Lenders will usually repossess a vehicle from a borrower who is lying about their identity or hiding their car. To avoid repossession:
- Find out if your car title loan lender would be ok with refinancing the loan. That said, this is an option you should only utilize if it will improve your capability of repaying the loan.
- If you have been able to avoid default, then you still have time to get yourself out of any trouble you are in. Make sure that you do the best you can to get up caught up with your payments.
- Propose a new repayment plan with the lending company you are already working with. This option may often be cheaper for your lender than going through repossession.
- Stay honest and open with your lender. Do not lie to them about your current situation. Lying may simply make matter worse, not better.
- If you cannot avoid repossession, then you may want to consider working with your car title loan lending company by making it easier for them to obtain your car. If you bring your car to the lender, you could avoid the heavy fees that come with vehicle repossession.
Contact a Max Cash Title Loans Processor Now
Max Cash Title Loans has experienced loan processors who are friendly, knowledgeable, and constantly ready to give you the assistance you need with all car title loan needs and questions. If you need to get in touch with Max Cash Title Loans, we can be easily reached via:
- Calling or texting us directly at 1-855-561-5626
- Emailing us at email@example.com
- Writing to us or visiting in person at 1270 E. Broadway Rd. Suite 208, Tempe, Arizona 85282