Is It Possible To Get Multiple Title Loans?
Getting Multiple Car Title Loans
A lot of people often think of getting multiple title loans while they are facing severe financial issues. Making decisions while you are in overwhelming situations can sometimes go wrong and can work against you.
This is the reason that while you are deciding to take the loan amount, you should be clear of every doubt that you have. Car title loans has secured loans that won’t leave you wandering from one place to another to get same-day cash.
There is no doubt that title loans have been a complete savior of many and require a few things to get approved. However, when it comes to getting multiple title loans on your vehicle, then a lot of people get confused.
How Many Title Title Loans Can You Have?
To help you get over your confusion, you should know that getting multiple title loans on one vehicle or car is not possible. But you can get two title loans or more on two different vehicles or more.
The reason behind this is that you have gotten a loan amount on the vehicle already, which means you are getting a percentage of the wholesale value of the vehicle. Thus, you are not eligible to exceed the vehicle value.
So you cant have multiple title loan on the same car, but you can have more than one title loan, but they will need to be on different vehicles.
How Many Title Loans Can You Get?
Getting more than one title loan is possible, but how many can you get? Well this will depend on your monthly income, because you will have to prove that you can afford to pay for more than one title loan at a time.
So you can have more than one title loan, but remember title loans are more expensive than traditional loans, and you do not want to get into trouble, and not be able to make the monthly payments.
Getting Title Loans While Still Making Payments
Can you get a car title loan while you are still making payments on your vehicle? the simple answer is no, but it will depend on if your vehicle has enough equity in it.
If you have enough equity in your vehicle, we can pay off your finance company, and replace it with the auto title loan that you are looking for.
Multiple Title loans
Whether you are looking for bad credit title loans or second title loans, there are some requirements/documents which you need to submit to the lender. Here are some of them mentioned below:
- Age – To qualify for title loans, you should be at least 18 years or more. If you are less than this age, then you won’t be able to get a title loan. This is the reason that you should consider your age before you try to get title loans.
- ID proof – Another thing that is required for you to submit is your ID proof. It should be a drivers license. This is important because it allows the lender to know whether you are a citizen of a particular state or not.
- Clear vehicle title – To get online multiple title loans, it is essential for you to have a clear vehicle title. Or in other words, it should be lien-free. In case there is any loan going on against it, then you won’t get the title loan.
- Income proof – You also need to submit your income proof to the lender. It is essential to submit so that the lender can get to know whether you will be able to repay the borrowed money or not. This can be in the form of utility bills, tax statements, etc.
Conclusion About Multiple Title Loans
Whether you are looking for bad credit title loans for the second time or simply looking for multiple title loans against your multiple vehicles, it is essential to know that they are possible to get.
However, you need to complete some requirements and submit the necessary documents to your lender. After this, you can get quick approvals and solve all your financial issues.
Getting multiple title loan is possible, and TFC Title Loans can help you with it. We will make sure the your multiple title loans, will all have the lowest possible interest rate, and the monthly payments will be affordable. Call us now, we are here for you.