Yes, you can get a title loan in Ohio on a car you’re still financing. At VIP Title Loans Ohio, we specialize in helping you get the most money at the lowest interest rate, even if your vehicle is not fully paid off.
We understand that life’s financial challenges can arise, and a title loan on a financed vehicle may be a great option for you to access quick cash.
All of our referral lenders are licensed by the state, ensuring that you are working with a trusted and reputable lender.
How Does a Title Loan on a Financed Car Work?
When your vehicle is still being financed, a title loan is based on the equity you’ve built in the vehicle. The lender will work with you to determine how much equity is in your vehicle and offer a loan amount based on that value.
Since the car already has an existing lien from your original loan, the title loan lender will take a second position on the title. This means the title loan lender can offer a loan while the original loan is still in place.
As part of the loan process, all title loan applications will require a credit check. However, even if you have bad credit, VIP Title Loans Ohio can still help. In this case, your vehicle’s equity serves as your credit.
Title Loan Refinancing for Financed Vehicles
If you already have a title loan with another company, VIP Title Loans Ohio can help you refinance your loan for better terms.
Refinancing allows you to potentially lower your interest rate or get more money if your vehicle has additional equity. Even if your car is still financed, we can refinance the loan to provide you with a more favorable arrangement.
Types of Vehicle Title Loans Available in Ohio
In Ohio, title loans are not limited to standard cars. VIP Title Loans Ohio offers title loans on various types of vehicles, including motorcycles, RVs, commercial vehicles, and even classic cars.
This means that no matter what type of vehicle you drive, you can access the funds you need using the equity in that vehicle. Whether your vehicle is fully paid off or still being financed, we can help.
Can You Get a Title Loan With Bad Credit in Ohio?
Yes, you can get a title loan with bad credit. At VIP Title Loans Ohio, we understand that many people face financial hardships that impact their credit scores.
Because your loan is based on the equity in your vehicle, your credit score is not the main factor in determining your eligibility. We work with people from all credit backgrounds to help them secure the funds they need.
FAQs About Title Loans on Financed Cars in Ohio
Can I get a title loan if I’m still making payments on my car?
Yes, as long as you have equity in your car, you can get a title loan, even if the vehicle is still being financed. The lender will take a second lien position on your vehicle’s title.
What happens if I still owe money on my car?
If you owe money on your car, the amount you can borrow with a title loan will depend on how much equity you’ve built up. You’ll need to continue making your regular car payments while also repaying the title loan.
Can I refinance my title loan if I’m still financing the car?
Yes, VIP Title Loans Ohio offers title loan refinancing. Even if your car is still being financed, we can help you refinance your existing title loan to get better terms or more money if your vehicle has positive equity.
What types of vehicles can I get a title loan on in Ohio?
We offer title loans on a wide range of vehicles, including cars, motorcycles, commercial vehicles, RVs, and even classic cars. No matter what type of vehicle you have, you can access a title loan as long as it holds value.
How fast can I get my money with an online title loan in Ohio?
The online title loan process is fast and efficient. Once your application is approved, you can receive your money in as little as 24 hours. This makes it easy to get the funds you need quickly.
Pink Slip Title Loans and Title Pawn Loans
In Ohio, you may come across terms like pink slip title loans or title pawn loans. These are alternative names for the same type of loan: a secured loan where your vehicle title is used as collateral.
Whether your car is fully paid off or still financed, these loans work similarly, allowing you to leverage your vehicle’s value for a loan.
A Fast, Easy Process with VIP Title Loans Ohio
At VIP Title Loans Ohio, we offer a streamlined and efficient online car title loan process. You can apply from the comfort of your home and receive your funds within 24 hours once your loan is approved. Our priority is ensuring that you get the best loan terms possible, whether your vehicle is fully paid off or still being financed.
Our referral lenders all carry the state-required lender’s license, so you can trust that you are working with reputable and licensed professionals. Plus, with a wide variety of title loan options, including loans for motorcycles, RVs, and commercial vehicles, you can find the loan that best fits your needs.
Quote from Daniel Joelson, Consumer Finance Expert
“When considering a title loan on a financed vehicle, it’s important to understand how much equity you have in the car. This equity will determine how much you can borrow. Make sure you work with a licensed lender to avoid any potential risks,” says Daniel Joelson, a consumer finance expert. “Title loans can be a helpful option for those needing fast cash, but it’s essential to continue making payments on both loans to avoid complications.”
In conclusion, getting a title loan in Ohio on a vehicle that is still being financed is possible. VIP Title Loans Ohio is here to help guide you through the process, offering competitive rates, fast online service, and the flexibility to work with any type of vehicle, from motorcycles to classic cars.
If you’re looking to refinance an existing loan, we also offer refinancing options to help you get better terms or more money. Contact VIP Title Loans Ohio today to start your application and get the funds you need fast.