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How can I refinance a car title loan?
I took out a car title loan almost two months ago and have been struggling to pay it back since. I depend on my car to get to and from work every day and cannot afford to have it repossessed. How can I refinance my title loan?
Jack Walsh · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Car title loans can be tough to pay off, and the last thing anyone wants is to have their vehicle repossessed. Luckily, it is relatively simple to refinance the loan.
When looking to refinance your car title loan, you should do the following:
- Contact the lender and ask what their policy is concerning refinancing.
- Find a lender to refinance with. You can refinance with your current lender, but you should shop around and compare rates from multiple loan providers to find the best agreement.
- Submit your new application and provide any documentation they request.
- Sign the new loan agreement.
To help make paying off your loan easier, you should download the
Jerry
app to save on your car insurance
. A licensed broker, Jerry does all the hard work of finding cheap quotes from the top name-brand insurance companies and buying new car insurance. Jerry has friendly agents who are just a text away and will even help you cancel your old policy!MORE: What is APR and how is it calculated?
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- Gregory R.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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