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    How to Transfer a Car Title Loan to Another Person

    How to transfer a car title loan to another person, all you need to do is to contact the title lender and see if the other person will qualify to take over the title loans.

    TFC Title Loans offers how to transfer a car title loan to another person if you wish to do so.

    This article was brought to you by TFC Title Loans, we try to bring to you the most informative information. If you are interested in getting a title loan in your area, we are able to help you with our large referral network.

    All of our referral partners are in compliance with the CFPB.

    Transfer Title Loan To Another Person

    Sometimes a title loan can become too much for us to handle or we just don’t want it anymore. The only problem is that you still owe money on a loan for it through a bank or lender.

    You know that it could potentially be worth less than what you owe, but you don’t want to be left paying off a car that you wouldn’t even own anymore.

    What if there was a way to fix that? TFC Title Loans is here to teach you just how to transfer a car title loan to another person.

    Transfer Title Loans

    TFC has been one of the leading auto title loan lenders for more than 20 years. Our customers have trusted us with all their financial issues through our title loans.

    When it comes to car title loans, we believe we are the best people to educate you on all your options. Get started with transferring a car title loan to another person by following the advice below.

    Car title loans
    We will get you the best title loans

    Check Loan Agreement

    Before you transfer a car title loan to another person with your buyer, check with your bank to ensure you can transfer a car title loan to another person.

    If you can’t find anything in your agreement documents, contact your bank or lender to check with them. If the transfer is not authorized under your agreement, then it’s going to be near impossible to switch the title loan.

    Fees & Charges

    If you’ve verified that you can transfer the title loan, then check if your bank or lender charges any levy fees or transfer charges.

    Being prepared for those is important because you will have to decide if you will make your buyer reimburse you for them or if you will pay for it.

    Modify Directly

    Modifying the loan directly through your lender is one of the options you have for transferring.

    You will have to contact your lender to let them know you are selling your car, and that you want the loan to go with the car. This is a common process when you trade in a car to a dealership.

    For the title loan to be transferred, you and the new owner will need to prove they are creditworthy. You’ll have a higher chance of them being creditworthy if their credit is equal to or greater than yours.

    Title Loans Transfer

    If your new borrower does not have a good credit score, you might need to move on to the next potential owner. Read more about car title loans with no credit check

    Once you’ve proved they’re creditworthy, the entire title loan will be transferred. It will be like you never borrowed the title loan.

    The new borrower will receive the good standing of the title loan transfer but will be on the hook for the remainder of the balance.

    Seeking New Lender

    When trying to transfer the title loan to a new borrower with a new lender, the new lender will usually pay off the remainder of your loan and issue the new loan with the new borrower.

    This could be a pricier or damaging way to transfer the title loan, depending on your original lender. Read our reviews to learn why we are the best auto title loan company!

    Again, make sure you check the agreements of your title loan. If you have any prepayment penalties established through your agreement, transferring the loan with a new lender could count as a prepayment with the existing lender.

    Transferring the Title

    To transfer the title of the car, you will have to go to the DMV to acquire any of the documents. These are some of the steps you may need to go through when transferring the title:

    • Provide the title of the vehicle to the new owner
    • Fill out the odometer reading (for cars less than 10 years old) and complete a title transfer form.
    • Potential smog check certification
    • Submit a form for transfer and liability within 5 days of the “sale” date

    Refinancing with TFC Title Loans

    If you decide that you want to refinance your title loan, come over to TFC Title Loans!

    We can offer a possibility to lower their monthly payment and/or obtain some extra cash after getting their new car title loan.

    The process is simple and quick and we will explain how the process works with us. Choose TFC Title Loans and save yourself some money today! You can even apply online for title loans today!

     

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    Disclosures

    DISCLAIMER: As our policy to make sure you know what we do and what are our limitations, we offer you these disclaimers. We are NOT A LENDER and we do not make short term cash loans or credit decisions. We are a referral service and work only with licensed lenders/brokers.

    We may act as the broker for the loan and may not be the direct lender. Loan proceeds are intended primarily for personal, family and household purposes. We do not offer or service student loans.

    *Loan amounts by the lenders vary based on your vehicle and your ability to repay the loan.

    *Since we do not lend money directly we cannot offer you a solicitation for a loan, except in the state of California. In all other serviced states we WILL match you with a lender based on the information you provide on this website. We will not charge you for this service and our service is not available in all states. States that are serviced by this Web Site may change from time to time and without notice. Personal Unsecured Loans and Auto Title Loans are not available in all states and all areas.

    *Auto Title Loan companies typically do not have pre-payment penalties, but we cannot guarantee that every lender meets this standard. Small Business Loans typically do have pre-payment penalties and occasionally will use your car as collateral to secure the loan.

    *All lenders are responsible for their own interest rates and payment terms. TFC Title Loans has no control over these rates or payments. Use of the work competitive or reasonable does not mean affordable and borrowers should use their own discretion when working directly with the lender.

    *The amount of people who applied for a loan and we helped and those who received a loan is not the same. We cannot guarantee we will find a lender who will fund you.Just because you give us information on this web site, in no way do we guarantee you will be approved for a car title loan or any other type of loan. Not all lenders can provide loan amounts you may see on this web site because loan amounts are limited by state law and/or the lender. Some lenders may require you to use a GPS locator device on your car, active all the time. They may or may not pay for this or charge you for this. This is up to the lender and we have no control over this policy of the lender. Typically larger loans or higher risk loans use a GPS.

    *In some circumstances faxing may be required. Use of your cell phone to receive updates is optional.

    *Car Title Loans are expensive and you may have other ways to get funding that is less expensive. These types of loans are meant to provide you with short term financing to solve immediate cash needs and should not be considered a long term solution. Residents of some states may not be eligible for a loan. Rejections for loans are not disclosed to our firm and you may want to contact the lender directly.

    *Car Title Loan lenders are usually licensed by the State in which you reside. You should consult directly with these regulatory agencies to make sure your lender is licensed and in compliance. These agencies are there to protect you and we advise making sure any lender you receive money from is fully licensed.

    *Trading Financial Credit, LLC dba TFC Title Loans, Car Title Loans California, Dineromax. If you are using a screen reader and are having problems using this website, please give us a call at 1-844-242-3543 for immediate assistance.

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