How Much Time To Pay Off A Title Loan


Before someone applies for a car title loan, they often ask, “how long will it take to pay off my loan”? You must understand that most applicants have never taken out a cash advance or title loan. They either saw an advertisement online or searched for a specific lending term. The customer was likely asked how much they needed and told to fill out the application. They will be presented with different payoff terms only after they’ve been approved for a loan. Some companies will have a fixed payoff term and set rate that is not negotiable. Set payment terms are becoming less common over the past few years. As more direct lenders offer loans online, we see more transparency from companies when they break down the rates and terms for a vehicle title loan.


Can I Pay Off A Title Loan Early

To understand how long a consumer has to pay off a title loan, the answer is never easy or definite. With most lenders, you often have set financial terms with each loan offer. That’s not the case with a secured lending service that provides equity financing. Loan offers and financing rates are often dynamic and determined by your financial situation. As you use the vehicle’s pink slip as collateral, the amounts you borrow can range from a few hundred dollars to tens of thousands! You will see considerable differences in payoff times with the difference in loan amounts.

Another factor to consider is that some states have specific regulations and limits on the payoff time you can expect with a car title loan. Take Delaware as an example. Delaware state regulations set a term limit of 180 days or six months. This payoff is not allowed to include rollovers. Other states allow car title loans but cap the payoff time at 30 days. One month may seem like a short amount of time, but those states also allow extensions or rollovers in certain situations.

Man checking his watch to determine the loan payoff time.

Pay off A Car Title Loan Quickly By Negotiating The Payments

Some larger equity lenders will go with a payoff estimate of 12 – 36 months. At Highway, we are proud to offer title loans online, we don’t give you or set any specific length or term for a payoff, and it’s not an issue if you want to pay off a title loan early. It all comes down to the vehicle’s title loan value and other qualifying factors like employment and credit issues. Another positive development with car title loan payoff times is that you are not necessarily set in with your payment period.


Are There Any Companies That Pay Off Title Loans Early

Most reputable secured loan companies will allow you to pay off the total amount early. By making early payments, you can avoid significant finance charges and get out from under a car title loan. There are also 3rd party lenders who will either refinance your current title loan or look to do a title loan buyout, where they work with your current lender to purchase the rights to your lending contract. These scenarios are rare because most people looking for a title loan payoff or buyout are likely already behind on their payments or may have a low value or rebuilt car title that further diminishes the loan value.  That doesn’t mean you can’t find companies that pay off title loans early, but the financing options may be limited.


pay off my loan to save money on interest.

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