REFINANCE YOUR EXISTING CAR TITLE LOAN

We offer pre-approval for title loan refinancing. Reduce your interest rate and pay off your loan quicker.

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TITLE LOAN REFINANCE

Are you looking to reduce the APR or lower the monthly payment on your existing title loan? Premier Title Loans can help you get new lending terms and payoff amounts. We offer fast pre-approval refinancing options. Customers who are current on their loan can possibly get a significant reduction on their interest rates and payoff terms.

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Why It Makes Sense To Refinance Your Car Title Loan

Are you struggling to pay down the balance on your title loan, or have the monthly payments become more than you can handle? Or maybe your lender threatens to repossess your vehicle if you don’t make the next payment on time? It almost always makes sense to refinance your existing loan, especially if your interest rate is more than 40%. There are certain situations in which a refi or even a revision of the payoff terms is unnecessary. This includes whether you already have a decent rate with favorable payoff terms. Of course, a “decent rate” is open to interpretation, and you can save a considerable amount of money even if you bring your APR down by a few points. Another time is when you’re close to paying off the balance, and in these cases, better off staying the course.

Finance charges on title loans are often high because many lenders won’t check your credit and instead rely on your vehicle’s equity as collateral. But as time passes, making monthly payments on time can become harder, and that’s when people turn to us to refinance their loans. At Premier Title Loans, we work with anyone who’s making payments on an existing vehicle-secured loan, and we’ll know within minutes if it’s in your best interest to refinance.

Do you need to lower the monthly payments on your title loan? It makes sense to expect a lower rate after making timely payments, much as you would with a car or home equity loan. Another scenario is if you are about to pay off the loan in full due to an early payoff, or near the end of the payoff terms. When refinancing, you should see improved repayment terms and lower monthly finance charges. You can benefit from a quick payoff or a lower monthly payment, as refinancing often leads to a lower interest rate.

What To Look For When You Want To Refinance

Once you’ve decided to refinance your title loan, there are a few things to consider to get the best terms and rates. As with a simple vehicle equity loan, you first need to choose a lender. Do you go with a company that provides title loans because they’re in your neighborhood? Some direct lenders in your area will tell you the process will be easier if you meet with them in person. However, it may be quicker to get an online title loan, as most companies that offer them streamline their processes. It pays to shop around when looking for the best terms. Even an interest rate improvement of one or two percent can save you considerable money in the long run.

We’ll work with you to get the best rates and terms when you apply to refinance a title loan online with no inspection or credit check. It may take less than 15 minutes to submit lender information and updated vehicle details. Rest assured, refinancing will likely take less time to underwrite than a typical title loan. Since you already have a lienholder on your car’s title, any new lender already knows you own a vehicle that recently qualified. After you submit your info, we’ll contact you and let you know what options are available and your expected interest rate. Lastly, your lender will contact the original lienholder and negotiate to buy out the title loan. You’ll end up with more favorable terms and may not have to deal with the stress of a vehicle repossession. Contact Premier Title Loans today at 1-800-250-6279 to estimate your savings by refinancing

Online title loans are now available with same day funding.

Terms To Expect With A Title Loan Refinance

Every lender offers different terms with a refinance, but ultimately, they need to be better than what you currently have. It doesn’t make sense to refinance your loan only to end up with a similar repayment term or an interest rate that’s only a few percentage points lower. That means you should expect a lower interest rate and repayment terms that help you get out of debt more quickly. At Premier Title Loans, we work with direct lenders nationwide, and most are ready to offer rates far lower than your current rate. Many borrowers took out high interest title loans over the past few years, and there’s no reason you can’t have a lower monthly payment and reduced interest rate if you’ve been making your payments on time each month.

Are you trying to decide whether it makes sense to refinance your existing vehicle-secured loan? Let’s assume you live in California and have a 60% interest rate on your existing loan. By refinancing, you can lower your APR to less than 36%. By cutting your interest rate in half while keeping the same monthly payments, you can repay the loan much more quickly and get your car’s pink slip back in half the time. Lenders are now limited in the interest rates they can charge in California and a few other states, and most will jump at the chance to get a new loan on their books, even if it’s at a lower APR than what you currently have. Review the quotes you receive and move forward only if the payment terms and interest rate reductions make sense. While you should always strive to lower your finance charges, refinancing may not make sense if you can only reduce the APR by a few percentage points.

What's Required To Refinance And How To Apply

The requirements to refinance an existing title loan are similar to what you needed when you first applied for a car title loan. In addition to your current lending documents, we need proof that the vehicle is still titled in your name and that your current lender is listed as the main lienholder on the certificate of title. There can’t be any additional liens on the car, and we’ll need to see the current loan agreement to ensure it’s still valid and enforceable in your state. We require proof of income to verify that you can satisfy the repayment terms of a new loan. We also need proof of registration and insurance, and we’ll need to verify your residency. Lastly, the vehicle can not have been repossessed by your original lender. While some customers in default may qualify for new repayment terms, buying out an existing loan that has already been repossessed is challenging.

Are you ready to see if you can qualify? Contact us at 800-250-6279, and we’ll verify the vehicle’s value and evaluate your current income to pre-qualify you. We’ll let you know within 30 minutes if we can lower the interest rate or improve the terms on your current title loan.

Arrange new loan terms with a refinance.