Balancing finances can be tricky, especially when there are loans involved. The process of refinancing your car title loan is similar to how you would refinancing a car. All you need to do is apply for a new title loan, pay off your old debt, and start paying off your new loan.
Make sure to shop around before settling for a new lender. Remember, title loans often have high interest rates and short repayment periods, so take your time to find a loan with manageable terms.
Once you find a lender you like, they’ll probably run a credit check on you. If they find everything acceptable, you’ll need to provide your new lender with:
A copy of the original loan certificate.
A certificate of inspection with adjustments for repairs made after taking out the first loan.
Once your application is accepted, your new lender will pay off your old loan and assume the lien
. From there, you can start paying off your new loan! For help keeping up with your monthly payments, start saving on car insurance with Jerry
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