Can You Get a Title Loan on a Financed Car?

If you’re still making payments on your car and wondering, “Can you get a title loan on a car that is not paid off?”, the answer is often yes, if you have enough equity. Even with an existing loan, some lenders may be willing to pay off your balance and use your car as collateral for a new title loan.

For example, if Lisa owes $8,000 on her car but it’s worth $15,000, the lender might pay off the old loan and let her borrow against the remaining value.

To see how much you may qualify for, simply fill out our online loan request, quick, easy, and with no obligation!

---

Is a Title Loan on a Financed Car the Same as a Title Loan? Yes, It Is

With a title loan on a financed car, you can receive cash based on your vehicle’s equity. A title loan for a financed car ensures you can use your car’s title as collateral and get the cash you need.

A title loan on a financed car works like a typical title loan. First, you’ll need to fill out a title loan application and provide a lender with information about yourself and your vehicle.

Once a lender approves your title loan request, you’ll receive your money. You’ll then be required to repay your loan. Otherwise, you’ll lose your vehicle.

Are You Eligible for a Title Loan on a Financed Car? It Depends on the Lender

The requirements for a title loan vary based on the lender. In fact, the lender you choose usually dictates whether you can get a title loan on a financed car.

Ask a lender if it offers title loans on financed cars. If the answer is yes, learn about the lender’s title loan requirements. Then, you can submit your application and get the financing you need.

Will You Have to Wait Long to Get a Title Loan on a Financed Car? Probably Not

Lenders frequently provide a quick, seamless title loan process. Oftentimes, lenders allow car owners to apply for an auto title loan over the phone, online, or in person. This makes it easy to submit a request and receive a lending decision, often on the same day.

Many borrowers can complete the entire process and access their funds within just a few hours, making title loans a fast financing option.

What Is the Minimum Title Loan Amount in California?

In California, there’s no state-mandated minimum for auto title loans. At Montana Capital, the minimum loan amount is $100, making it possible for qualified borrowers to access smaller loan amounts when needed.

Before approving the loan, the lender will evaluate your vehicle to determine how much you can borrow. Factors such as the age, mileage, and condition of your car will affect the loan amount. In many cases, eligible borrowers can receive their funds on the same day.

Should You Apply for a Title Loan on a Financed Car? Key Questions to Consider

If you’re unsure about whether to apply for a title loan on your financed car, there is no need to stress. Now, let’s take a look at five questions to consider to help you make the best possible decision.

1. Will a Title Loan Provide the Money You Need?

Title loans are great for car owners who need instant cash. If you require money right away and are willing to use the equity on your financed car as collateral, a title loan provides a terrific option.

2. Will You Be Able to Pay Back a Title Loan on a Financed Car?

Beware the consequences of failing to pay an auto title loan on a financed car. One in five borrowers has their vehicles repossessed due to their inability to pay off their auto title loan, according to research from the Consumer Financial Protection Bureau. Conversely, if you understand your auto title loan, you can plan ahead so you can make your payments on time.

3. What Are Your Short- and Long-Term Expenses?

Analyze your expenses. Next, you can determine if an auto title loan on your financed car can help you cover your short-term costs. You can also assess how a title loan will impact your long-term expenses.

4. What Are the Terms of a Title Loan?

Review the terms of a title loan agreement. If you are confused about any title loan terms, reach out to a lender for assistance. This allows you to gain the insights you need so you can make an informed title loan decision.

5. Does a Lender Meet Your Expectations?

Don’t settle for an inferior lender. Instead, choose a lender that employs friendly, knowledgeable title loan officers. This lender should also help you feel comfortable with all aspects of a title loan for your financed car.

---

How Can You Select the Right Lender for a Title Loan for a Financed Car?

Here’s What You Need to Know

Thousands of lenders offer auto title loans on financed cars. However, the right lender for a title loan for your financed car will likely offer the following perks:

1. Convenient Locations

The right lender makes it simple for you to reach out with auto title loan concerns and questions. It offers dozens of locations, along with customer support via phone and email.

2. Flexible Payment Options

The right lender provides multiple auto title loan payment options. It collaborates with car owners, and in doing so, helps you find an auto title loan payment plan that falls in line with your finances.

3. No Hidden Fees

The right lender is upfront with car owners. It has no hidden fees or prepayment penalties. It will also ensure a car owner fully understands all auto title loan terms.

4. Straightforward Application Process

The right lender offers an easy-to-follow title loan application process. It even provides guidance to help car owners complete this process.

5. Fast Loan Decision

The right lender ensures a car owner can receive an instant decision on a title loan on a financed car. If a title loan application is approved, this lender immediately provides financing.

Montana Capital: A Leading Provider of Title Loans for Financed Cars

If you want a title loan for your financed car, Montana Capital Car Title Loans can help. To date, we have helped thousands of customers secure auto title loans. Montana Capital Car Title Loans teams up with third-party lenders across the US to provide exceptional title loan support.

To find out more about how we can help you secure a title loan for your financed car, please contact us today

Serving You Across The US

Montana Capital Car Title Loans serves applicants from various states, including Alabama, Arizona, Illinois, New Mexico, Texas, Oklahoma, and many more!

By connecting with a trusted lender, we help people apply for a title loan safely and quickly. Fill out your loan request now and let our support team guide you.