There are multiple reasons why you would want to consider refinancing a title loan you are currently in the process of paying off. If you currently cannot afford the monthly payment that you are being asked to make, you could potentially get it lowered. On that same note, you may also be able to negotiate a lower interest rate, which would also contribute to having a lower monthly payment to make.
A lower interest rate would mean spending much less time repaying your loan, as you would be able to pay off the principle much faster. However, if you do need more time to pay off your title loan, this is another loan term you could negotiate through refinancing.
How Refinancing Works
Refinancing is the act of taking out another, better loan to repay the balance that you currently owe on a loan you are in the process of repaying. Sometimes your refinancing lender will take care of the last of the loan repayment for you, or instead they will give you the money and then you can send it in to your old lender to square things away.
If you are concerned that refinancing your title loan is a complicated process, you do not need to be. Refinancing a title loan actually works almost identically to taking out a title loan for the first time. The things you will need to do when refinancing with the loan facilitation services of Max Cash® include:
Applying for a New Loan
When you apply to refinance your title loan, visit the Max Cash online inquiry form to file for a new title loan. When we get in touch with you, let us know that you are interested in refinancing a current loan rather than taking out a brand new one altogether.
Have the Same Documents Ready
Just like when you applied for your initial title loan, you will need to have a set of documents that will confirm your identity for both Max Cash as well as the lender. For the most part, they will more than likely be the same ones that you used for your last loan. These of course are all government-issued documents, such as:
- Government-issued photo ID
- Proof of residence (utility bills and government documents that have your name and address)
- Several clear photographs of your car
- Vehicle title that is legally in your name
- Proof of income (like pay stubs and bank statements)
Why Refinance with Max Cash
Refinancing your title loan could be a great option for your financial well-being. Here at Max Cash, we work with reputable title loan lenders across the nation. It can be easier than you think to find a suitable lender for title loan refinancing.
Plus, if you need your current title loan refinanced quickly, Max Cash could potentially have you set up with some sweet new repayment terms in as little as a single business day!² Talk about fast service!
Some Great Perks of Refinancing Your Title Loan with Max Cash
When you want to refinance your current title loan, there is no better place for you to go than Max Cash. We offer our clients a wide variety of great perks that make the refinancing experience much more convenient and pleasant, such as:
- Pre-approval can happen in almost no time at all
- We are open to helping you with your refinancing needs 7 days a week
- Having bad credit or even no credit may not hold you back
- Complete the refinancing process in as little as one business day
- Having bankruptcy in your past will also not hold you back
- There are no penalties that come to you for pre-payment on your loan
Start Refinancing by Talking to Max Cash Today
In order to get the ball rolling to refinance your current title loan with Max Cash, we have quite a few easy methods for you to get a hold of us. Contact us by calling our toll-free number (855) 561-5626.
