Refinance Title Loans
It Is Now Easy To Refinance Your Title Loan
At LoanTruth, we focus on making the process of getting and maintaining car title loans simple and straightforward. We appreciate the fact that your financial situation could change during the loan repayment period, and so we strive to accommodate you and your financial needs. We offer a few options for reducing your monthly installments throughout the loan duration. Refinancing your auto loan is one of the best and easiest ways to reduce your monthly payments and cope with a tough economic situation.
If you have paid a certain percentage of your car title loan and you have established a good payment history with our company, you are likely to be able to refinance your auto loan. All you need is to contact the office from which you received the loan and ask them to check the payment history and tell you if refinancing is the best option. You will also be able to schedule an appointment over the phone to refinance or buy out your auto title loan. If you are eligible to refinance your loan, you only need to pay the interest you have accrued from your last monthly payment. When your refinancing request is accepted, LoanTruth lenders will clear the existing loan and approve a new short-term loan with the previous loan balance. You will also have an opportunity to choose the monthly installments that you will be able to pay.
At LoanTruth, we can find lenders write loans between 4 and 24 months even though eligibility for refinancing varies from one case to another. Your new loan will only reflect the outstanding amount of the previous loan. This means that it will be smaller than the original figure, so you will be required to pay lower monthly installments. The good news is that you will be able to retain the initial interest rate. We ensure you don’t pay high-interest rates just because you chose to refinance your car title loan.
Refinancing your loan may not always be the best option, especially if it involves extending the loan repayment duration. However, it is essential to know that the opportunity is there for you.
Unlike most car title lenders, our loan providers and banks that refinance title loans don’t have penalties for paying off your loan before the due date. The sooner you pay your auto loan, the less interest you will pay! Economic times may get tough, but we will always do what we can to help you cope with the situation. Most importantly, we will ensure your auto title loan is not a burden on your shoulder.