Can You Have Two Title Loans at the Same Time?
Are you wondering if you can have two title loans at the same time?
The quick answer is no. You cannot have two title loans, on the same car, at the same time.
You can, however, have two title loans out on two different cars.
If you own two vehicles and they have clear titles, it’s possible that you could take out title loans on each vehicle.
Don’t be deterred if you’re still making payments on your car either, we may be able to help you. Fill out our fast and easy online application to get started.
Can You Have More Than One Title Loan?
Can you have two title loans at the same time? Yes. You can have more than one title loan if you are using more than one vehicle as collateral.
It is possible for a family with multiple unique vehicles to get two different title loans. Both of them would be obtained through the collateral value of the respective vehicles.
Many times, two spouses will need to take out a title loan on their own vehicle individually in order to obtain the amount of money they need.
Essentially, you can take out as many title loans as the number of vehicle titles you have. Each clear title to a car represents a ticket for financing. You can cash in on that ticket at any time by using the title as collateral and borrowing against each vehicle in your possession.
As long as the title is free and clear, you’re good to go. Bad credit may not even stop you from getting cash when you need it.
Can I Have Two Title Loans on the Same Car?
When it comes to the question, “can I have two title loans on the same car?”, the answer is no.
When you take out a title loan and borrow against a single vehicle, you will be given money in proportion to the vehicle’s value. You cannot exceed the value of the car in terms of financing, which is one reason why you can’t get multiple title loans on the same vehicle.
What Are my Options If I Need a Second Title Loan?
You have a couple of different options if you need a second title loan:
When you need a second title loan you always have the option of using the title on another vehicle. If you’re wondering, can you have two title loans at the same time? Know that, by using a title on a separate vehicle, you can possibly qualify for a second title loan.
Sometimes having two title loans or more is what it takes to get through a rough patch or seize a great business opportunity.
Another option to get more money is to refinance. It’s a way for you to clear all outstanding loans and liens and then add additional funds to the total financed amount. You will be able to transfer your payments and additional loan amount to a qualified lender.
One thing you should keep in mind is how to keep up with the monthly payments for multiple title loans.
Title loans are meant to be relatively short in duration. You can pay them off quickly but the payments can be steep, which is why it’s so important to partner with a firm that offers reasonable interest rates.
Companies like 5 Star Car Title Loans are a safe option that will look out for you and make sure you don’t get bogged down in interest payments.
Borrow Against Two Cars with 5 Star Car Title Loans for a Great Deal
When you choose 5 Star Car Title Loans as your financier, you can get a great deal when borrowing against more than one car.
When you get a title loan on two vehicles, you can get twice the amount of cash, get competitive interest rates, with 5 Star Car Title Loans. We help customers get access to cash fast!
Chat with 5 Star Car Title Loans right away and see if you can qualify for using two vehicles!