Refinance Your Current Title Loan

Do you have a title loan that's taking forever to pay off, or are you simply looking to lower the monthly payment to a more manageable amount? With Highway Title Loans, you can reduce the APR on your existing loan and get a much quicker repayment term with a quick 24-hour refinance.

We know how challenging it is to be stuck with a loan that won't be paid off for months or even years. Some of our recent customers have seen huge savings, and it only took a few minutes to get an initial quote. Read on to find out what you need to refinance a title loan with Highway, the benefits you can expect, and exactly how the process works from start to finish.

Refinance With Highway Title Loans - What's Required

• A Clear Title To The Vehicle. Of course, your current lender will be the current lienholder on the pink slip. But we still need to confirm there are no other lenders or third parties on the title. We'll need the original DMV documents showing the current lender has first rights to the vehicle.
• Proof Of Income. We need to know you can afford the monthly payments on a title loan refinance. Even if you're looking to reduce the payment, we must still confirm income with pay stubs or bank records. Are you behind with your current lender and facing repossession? We may be able to help you, but we still need to know you can repay the loan after refinancing.
• Vehicle Inspection. Does your vehicle run, and does it still match the resale value as shown on your existing loan? Similar to when you applied for the first loan, we need to confirm the vehicle's value and check for any mechanical or surface issues.
• Comprehensive Insurance Info. If you already have a title loan, it's likely you have full insurance on the vehicle, so this shouldn't be an issue. We must verify full insurance coverage on the vehicle.

How Much Can I Save By Refinancing?

You can save thousands by refinancing an existing title loan. Even by reducing the interest rate on your loan by a few percentage points, a larger percentage of your payment will go towards paying the principal each month. Whereas if you don't refinance, most, if not all, of your payment would go towards interest, and that's why it takes so long to pay off a vehicle-secured loan. Think of it like this: a loan on your vehicle with an interest rate of 90% may take 4 years to repay. Apply with Highway Title Loans for a refinance, and you can possibly get that interest rate down to 40% in some states. So instead of repaying the loan in 4 years, you may be looking at a repayment period of 2 years or less just for lowering the APR to a more manageable level.

Another reason that people turn to Highway Title Loans for a refinance is to lower the monthly payment. This can be a viable option for someone who's struggling to make ends meet, but unless you lower the APR, it may not make sense, as you'll have to repay the loan over a longer period of time. Contact us to not only lower your payment each month, but also to reduce the interest rate on your existing loan. All it takes is one call to go from paying $300 a month for 3 years to paying $250 a month for 2 years. It's that easy when you refinance an existing title loan with us.

Other Benefits That Come With Refinancing A Title Loan

Besides lowering your interest rates and monthly payments, you can also count on unexpected benefits from a title loan refinance. Did you know you can skip the first monthly payment when refinancing your loan? Similar to refinancing a home loan, the new lending terms are often set for a month out, and most lenders will let you skip the next monthly payment when refinancing.

Another benefit of refinancing your title loan is that you can possibly avoid repossession and get back to current on your payments. It's not always easy, but there are ways for a new lender to buy out an existing loan, and in turn you get a fresh start and a new set of payments. Contact Highway Title Loans today to see how we can help you get back on track with a new lender by refinancing a loan that's currently in default.

Can I Still Qualify For Refinancing If My Vehicle Mileage Has Increased

All legitimate lenders know you will add miles and wear and tear to your vehicle throughout the life of a secured loan. Even though the resale value of your car will be lower when you apply for a title loan refinance, the odds are that you've also paid down some of the original amount owed, and most of these issues should equal out.

A typical customer applies with us to refinance a vehicle-secured loan after 12 months of making payments with their previous lender. So even if your car's value has decreased, we'll be able to lower the monthly payments on your new title loan terms. The bottom line is it doesn't matter if you're behind on payments or close to paying off your existing loan. Even if your lender is threatening repossession, we may be able to help you. Apply with us online or call 877-433-5454 to see how much we can save you with a fast 24-hour refinance.