Financial problems can appear out of nowhere. Unexpected expenses like bills, taxes, or car repairs can be difficult to prepare for. If you already have a title loan and you are considering another to help move your finances along, you might be wondering, “where can I get a second title loan?”
While you will not be able to get more than one title loan on the same car, you may have considered using another available vehicle for a second title loan. A second title loan could cover your financial woes, but there are other resources to consider first.
If you’re experiencing a financial strain, don’t panic. ChoiceCash Title Loans may have the perfect solution for you!1 Refinancing your first title loan could make your current payments more affordable and eliminate your need to get a second title loan!1
How Can I Get a Second Title Loan?
Customers that are familiar with title loans often think about applying for a second title loan if their finances need help. Most borrowers choose a title loan for funding in the first place because of the easy approval process. Title loans can often cater to borrowers that are not confident with their credit history. Whether you are thinking of applying for a second title loan or title loan refinancing, a flexible approval process can take the stress off of you.
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Instead of a second title loan, consider refinancing your current title loan with ChoiceCash Title Loans to obtain more affordable loan payments!1
Before applying for title loan refinancing, you will need to meet these qualifications:
- Be 18 Years of Age or Older
- Have a Vehicle With Equity in Your Name
- Be Able to Prove Your Income
With these simple requirements met, you can apply for refinancing online easily with ChoiceCash Title Loans!1
Where Can I Get a Second Title Loan with Another Car?
Title loans offer a lot of flexibility during the approval process, but you will not be able to take out two title loans on the same vehicle. If you currently have a title loan on one vehicle and have another car available, you may have considered using your second vehicle for another loan.
While you will be able to have more than one title loan at a time if you have two vehicles, there are some nuances to consider before applying for a second title loan. Two title loans can get you more cash, but it can be overwhelming to pay off two loans at a time. When applying for a second title loan, a loan agent will often take a look at your finances and decide what would be appropriate and affordable. Often, it makes more sense to refinance your current title loan to make your monthly payments more affordable. In some cases, you might be able to get more cash when you refinance your loan!1
Where Can I Get a Second Title Loan on the Same Car?
If you already have a vehicle that previously had a title loan on it, you may be inclined to use the same car again to get cash. Once you’ve paid off that first title loan, you’ll be able to get a second title loan on the same car.1 There is no limit to how many times you can use your car to get a title loan. As long as it still has equity or significant market value, it may still be the right candidate for a car title loan. Many vehicles hold market value well, even years after you’ve bought the car.
Unfortunately, you will not be able to take out a title loan on a vehicle that already has a lien on it. If the car already has a title loan on it, you cannot apply for a second title loan on the same car. Instead, you can only apply for a second title loan on the same car if the first title loan has been fully paid off.
If you’re thinking about a second title loan because you currently can’t afford your title loan payments, you have other resources to consider besides a second title loan. You can refinance your current title loan with ChoiceCash Title Loans!1 Take a look at your refinancing options today and see if you can get a more affordable monthly payment on your car title loan.1 Applying for title loan refinancing can be just as easy as applying to get a second title loan!
What Documents Will I Need to Get a Second Title Loan?
Like any loan, there are a few documents that you will need to submit during the approval process for title loan refinancing. These documents can speed up the process and help a loan agent verify your information.
Lucky for you, these documents can all be submitted online for your convenience! ChoiceCash Title Loans was created with the borrower in mind. That’s why you can conveniently submit your documents online when applying for title loan refinancing.
You can expect to need:
- Proof of Income: During the approval process, a loan agent will look at your income to debt ratio and see what you can afford for a monthly payment. To do this, they will need proof of income! While you do not need a traditional 9-5 job to apply for a title loan, you will need some form of income or alternative income. Many future borrowers choose to submit things like paystubs, recent bank statements, or even a Social Security award letter.
- Recent Photos of the Vehicle: Most title loan companies will require an in-person vehicle inspection to find out what your car is worth. Thankfully, ChoiceCash Title Loans is different! You can easily submit photos of your car to bypass the in-person vehicle inspection. Just take a few photos of the back, front, and sides of your car as well as the odometer.
- Proof of Address: Your address is another factor that needs to be verified! Most borrowers will submit recent mail as proof of address. This includes credit card statements, voter registration, or any other type of official mail.
- Your Vehicle’s Title: This is the most important piece of information during the loan approval process. It must be in your name, and it must be lien-free to qualify!
- A Photo ID: Many future borrowers choose to use their driver’s license, passport, or any other form of a government-issued ID to verify their information. In some states, you may be able to use a military ID or FOID card to verify your identity.
What are the Benefits of a Second Title Loan?
If you are struggling to make ends meet, a second title loan can seem like a way to get fast cash. But, you have more options than just a second title loan! Refinancing your current title loan could be more beneficial to you than a second loan.
You may not have even known that title loans can offer you more than just cash to get by!
Take a look at some of the most notable benefits that come with refinancing your current title loan:
- More Time to Pay Back Your Title Loan: While some title loans are short-term loans that only give you a month to pay your loan back, a title loan with ChoiceCash Title Loans can be more flexible. You can get up to 36 months to pay back your title loan. While you will have up to 3 years to pay back your title loan, you can pay it back sooner at any time without the fear of a prepayment penalty.
- You Can Get Rewarded With a Lower Interest Rate and Monthly Payment:2 The relationship between the company and borrower can often feel one-sided. You borrow cash, and you repay your loan. With ChoiceCash Title Loans, however, you have the opportunity to get rewarded for being a responsible borrower!2 As long as you keep your account in good standing, your loan could qualify for an interest rate and payment reduction each month.2 By the time you make your last loan payment, it could be half of what your first one was!2
- A Faster Way to Refinance: ChoiceCash Title Loans was designed with speed in mind. If you currently cannot afford your monthly payments with your title loan, you need to refinance immediately! The refinancing process with ChoiceCash Title Loan can take just a few minutes online, or over the phone with a representative at 855-914-29451
Where Can I Get a Second Title Loan Online?
Instead of getting a second title loan, why not refinance your current title loan? It doesn’t have to be a hassle to get an affordable monthly payment!1
With loan options like ChoiceCash Title Loans, the entire refinancing process can be just three simple steps for your convenience:
- Send in a Loan Inquiry Online, or Over the Phone at 855-914-2945
- Submit a Few Documents to Verify Your Information
- Get Refinanced and Get Your Cash!1
If you can get your emergency funds in as little as 24 hours, why wait to see if you qualify? Get started on refinancing your title loan today by visiting the website, or by calling a loan agent at 855-914-2945 ChoiceCash Title Loan agents are available for extended hours seven days a week for your convenience. Any of your title loan questions can get answered in a snap!