Title Loans Refinance Options in DFW Metroplex

A title loan refinance, or title loan buyout, is when a new lender like VIP Title Loans issues you a new car title loan, which is used to pay off an existing title loan. In doing so, you can secure a new loan agreement with more favorable terms.

the total borrowing amount and lower your immediate out-of-pocket expenses. You can seek out a loan with more favorable terms, such as a lower interest rate. You can also avoid costly penalties that may be imposed by the original title loan, such as administrative fees. Refinancing can reduce your monthly payments, help you avoid immediate late payment penalties, and prevent repossession, auction, and storage fees.

Yes, we can refinance your title loan with bad credit. Your eligibility will be determined by the existing loan terms, your vehicle’s value and condition, your income, and your ability to repay.

For an in-person or online title loan refinance, we will need to confirm that you are 18 years or older, the vehicle title and existing title loans are in your name, your vehicle is paid off or nearly paid off, and you have a verifiable income source to repay the loan. You will need to provide us with a valid photo ID, proof of residence, proof of income, vehicle photographs, and proof of the make, model, year, mileage, and VIN of your vehicle.

Yes, you may be able to get additional cash if you apply for a cash-out title loan refinance. We will consider the remaining equity in your vehicle to confirm that it is worth more than what you owe on your existing loan. We will also need to assess your debt-to-income ratio by evaluating pay stubs or bank statements. Use our car title loan amount calculator to get started.

The process can take 30 minutes to a few business days depending on how and where you apply. If you apply with us in person at one of our five DFW Metroplex locations, we may be able to speak with your current lender to get a payoff quote, review your application and documentation, assess your vehicle’s condition and equity, approve the application, and issue a direct buyout to your lender within 30 minutes to an hour. If you apply online, the process can take one to two business days, or up to a week for complex cases.

You might consider refinancing a title loan if your existing loan is a threat to your financial stability, you are in danger of having your vehicle repossessed, you can only afford the interest payment, you are at risk of missing a payment, your cash flow has improved, or if market rates have dropped.

No, we do not charge prepayment penalties or fees if you decide to pay off your refinanced title loan ahead of schedule.

This is the formal process where we update your vehicle’s title document to swap out your old lender for VIP Title Loans. This ensures that the old lender has no legal claim or lien on your vehicle. When your original loan balance is paid in full, we will change the lienholder to our name. When you pay off your new loan in full, the lien will be released, and your title will be free and clear.