Title loans are one of the most popular ways for borrowers to receive fast emergency cash. Almost always, car title loan approval is quick and easy, and can often come with benefits like lower monthly payments and competitive annual percentage rates (APR). But what about a Title Loans buyout?
For many people, a Title Loans buyout may be a good financial option if they currently owe money on their vehicle, are looking for a better title loan company, or simply want to refinance their current title loan. Looking to learn more about buyouts? You’ve come to the right place!
If a Title Loan buyout sounds like it could be the right choice for you, you have come to the right place! Max Cash® Title Loans is proud to be the #1 Nationwide Title Loan Marketplace and wants to find you the best deal! Whether you are looking for a title loan refinance or a brand-new loan, Max Cash Title Loans is here to help!
What is a Title Loans Buyout?
When a buyout occurs, it means that one party has paid the majority share of something, usually for the benefit of another party. When it comes to Car Title loans, a Title Loans Buyout can happen in a couple of different ways. Here are the two main ways a buyout can generally happen for a title loan:
- When Auto Title Loan lenders cover the existing cost of a vehicle to become a lien on the car’s title.
- When an individual refinances a title loan, usually for better terms, lower interest rates, or even a higher loan amount.
One of the ways people can find a Title Loan buyout is when they currently have an existing balance on their vehicle with their dealership and are looking for a Title Loan. In this circumstance, title loan lenders can often buyout the existing balance the borrower owes on their car, along with lending additional funding. When this happens the title loan lender would become a lien on the vehicle’s title and be responsible for repossession if default on the title loan occurs.
Another way to get a Title Loans buyout is through refinancing. For many people, refinancing a title loan can be beneficial and come with several exclusive perks like easy repayments, or improved interest rates!
What is a Car Title Loan Refinance?
Refinancing is when a borrower takes an existing loan, and essentially “rolls it over” into a brand-new loan. Why would someone want to refinance their current title loan? Often, refinancing a loan can lead to better loan terms, a new lender than can better accommodate the borrowers’ needs, more reasonable monthly payments, and more!
How can refinancing get you better loan payments? When you refinance a title loan, your new or current title loan company will lend enough money to pay off your original loan along with additional funding. And, since you already have an existing title loan, lenders are often willing to lend that additional funding with benefits like an improved payment plan, a higher minimum loan amount, or better rates.
Furthermore, the loan application process for title loan refinancing can also be much faster than an initial title loan application because your information and documents may already be on file! During the refinancing process, a title loan lender will generally ask for the following information and documentation:
- Name / Age
- Government Issued Photo-ID
- Proof of Residency
- Proof of Income
- Qualifying Vehicle Title
- Current Photos of the Vehicle
Don’t have something from the list above? Don’t worry! Call 855-561-5626 to speak with a qualified loan specialist and discuss what other forms if information or documentation you can use. You may also be able to get a free quote!
The Process for a Title Loans Buyout Through Refinancing
Think refinancing might be the right Title Loans buyout option for you? Get started with an easy online application today! The process is fast, simple, and you could even get the money you need as soon as the same or next business day!1 To get a Title Loans buyout through refinancing, here is all you need to do:
- Send in your Information – Visit Max Cash Title Loans online and fill out a simple inquiry form, from there a Max Cash Title Loans representative will contact you and you can inform them you wish to refinance an existing title loan.
- Send in your Documents – Upon approval, your new current title loan lender will ask for a few pieces of documentation, which they may already have depending on which lender you go with for your refinance.
- Receive your Money! – After your documents have been processed, your title loan lender will draw up a new contract for you to sign, and then you can get your funds! Pick up your money at any MoneyGram or choose to receive a direct deposit or check in the mail.
Find an Auto Title Loan Buyout with Max Cash Title Loans
Finding the best deal on title loan is streamlined and simple when you work with Max Cash Title Loans!1 Being the #1 Nationwide Title Loans Marketplace, Max Cash Title Loans knows what it takes to make sure you find the most suited title loan for your unique financial situation. Plus, title loans found through Max Cash Title Loans can come with exclusive benefits!5 Check out some of the perks of title loans below:
- No Pre-Payment Penalties – Make your loan payments when it is convenient for you, even if it is before you monthly due date!3
- Competitive Rates – Max Cash Title Loans only works with the best title loan lenders, and that means ditching the ones who charge unreasonably high interest rates.4
- Reasonable Terms – Most title loan can be paid off in a year or less, but you can also get more time to pay if that is what you need. 4 Talk with your title loan representative for your customizable payment plan!4
- Superior Customer Service Representatives – Max Cash Title Loans has phone services open seven days a week, so if you ever have a question about your car title loan, never hesitate to contact us!