We are proud to now offer refinancing options for existing car title loans. With Hyperlend you can lower the rate and improve the payoff terms for your existing title loan. Most borrowers can quickly qualify for a refi as it’s likely the amount you’re currently paying is higher than the refinance rate.
Can I Refinance My Existing Title Loan?
If you have an existing title loan, refinancing may be a good option for you. To find out if refinancing is right for your situation, answer the following questions:
1) Are you making your current title loan payments on time?
2) Is your vehicle title free and clear of all other liens and other payment obligations?
3) Have you paid more than half of the title loan amount borrowed to date?
4) Do you have at least 4 months left before it expires?
If you answered yes to ALL these questions then refinancing may be right for you. It’s important that your car title is not being used as collateral against any other outstanding online title loans or lines of credit, since title lenders will not be able to redo or access the current vehicle title. Also, the vehicle needs to be in the same condition as when it was first valued during the inspection.
What Documents Are Required To Refinance A Title Loan
The most important documents you need to refinance your title loan are the title and current title loan contract. You will also need to provide proof of residence (two pieces), a valid state-issued ID, your photocopy, and possibly even a copy of the title insurance policy depending on which title lender you work with. If you can’t provide all of these documents they might be able to electronically verify any of them. Even though you already supplied these when you first got the loan, we’ll still need to verify and update the current information.
How Long Does It Take To Complete the Refinance
The timeframe to finish the title loan refinance with Hyperlend is much quicker compared to when you first applied for an online title loan. We’ll need to process the title loan refinance application, check your title for liens, contact your lienholder if needed, processing time depends on how quickly you have this information ready. It’s not uncommon to see funding for online title loans within 24-48 hours. Refinancing a title loan can actually be done in a quicker amount of time. We’ve seen some loans complete the entire refi process in less than half of day!
How Can I Refinance My Title Loan With Hyperlend?
The title loan refinancing process is much like what you’re already used to with our title loans. The only difference is that now it will be a totally different amount and sometimes even a different term length! Before applying for a refi you need to stay current on the existing loan payments. The last thing you want is to default on your title loan as that can cause you to be ineligible for any future offers.
If you’re interested in title loan refinancing simply click the apply now button, complete the secure online form, submit any requested documents electronically or via fax ( available), and let us contact you to determine if you qualify for a title loan refinance.