Can I refinance my title loan with LoanMart in Cedar City?

 
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LoanMart may be able to refinance your loan1. It may be a great decision to make if you think your interest payments are too high or you aren’t satisfied with something like the customer service at your current lender.

How much money can I get with a refinanced Title Loan from LoanMart in Cedar City?

Your refinanced title loan may be for the balance of the loan you are refinancing1. In Utah, LoanMart offers title loans in the amount of $1,500 – $25,000 and are influenced by a number of factors1:

  • Your ability to repay the loan
  • Value of your vehicle

The more your car is worth and the more money you make, the more you may be able to get1. That said, there’s more to a title loan than simply showing up at a bank.

How can you get a Title Loan refinanced in Cedar City?

You may be able to get your title loan refinanced the same way you got your original loan1. When you contact LoanMart, either at a participating location, over the phone, or online, you’ll need to let them know that you want to refinance an existing title loan from another company. There will likely be an application process similar to the one you filled out to get your initial title loan.

What documents do I need to refinance a Title Loan?

There are a few documents you need if you want to get a title loan refinanced with LoanMart which is most likely not much different than what you needed to get it financed originally:

  • Qualifying title for the vehicle
  • Proof of residency
  • Proof of Income
  • Photos of the front, back, and sides of vehicle
  • Government-Issued I.D. (Driver’s License, State I.D., Passport, etc.)

What is considered proof of income for a LoanMart Title Loan refinance?

People often think the only way to show proof of income for a title loan is through a paystub. In reality, there are a number of different ways to show you can repay your title loan:

  • Social Security
  • Annuity
  • Settlement/Court-Ordered Award
  • Workers’ Compensation

How much interest does LoanMart charge for a refinanced Title Loan in Cedar City?

The annual percentage rate for LoanMart’s loans in Utah range from 80%-204%.

Are there any costs other than the interest for a refinanced Title Loan in Cedar City?

LoanMart does not charge you anything to apply for a loan refinance. However, there may be fees from your original title loan from your current company, like early repayment fees, that you need to be aware of. LoanMart will inform you of any fees and charges other than interest associated with your refinanced loan1.

How long do I have to pay back my refinanced Title Loan in Cedar City?

LoanMart’s auto title loan terms range from 12-48 months. LoanMart will outline the repayment schedule for you during the application process1.

What happens if I don’t pay back my refinanced Title Loan in Cedar City?

If you are unable to pay back your new loan, your car can still be repossessed by your lender. Utah has no right to cure period, meaning as soon as you miss a payment your lender can repossess and auction your vehicle without notice. Once they repossess it they can sell it immediately. Unlike other states, when a lender sells a repossessed car in Utah, if they recover less than the value of the debt, they cannot continue to pursue the borrower for payment. In contrast, if they sell your car for more than the value of the loan, they must return the excess funds to you.

Is there any way I can extend the terms of my refinanced Title Loan in Cedar City?

If you are unable to pay your title loan in the allotted time, you should speak to LoanMart as soon as possible. It may be possible to extend the length of your loan. You may have to pay any interest and fees owed on the loan and will be responsible for new interest payments on the balance moving forward.

How to get a Title Loan with LoanMart

Are you stuck with a title loan with too-high interest rates, poor customer service, or both? Don’t let an inconvenient loan add stress to your day or derail your budget. Contact LoanMart and see what your refinance options are. You may qualify for a better interest rate and to take advantage of LoanMart’s superior customer service1.

With our easy process, we give you three ways to contact us that make it convenient for you:

  1. Visit a participating store
  2. Call us at 1-877-787-4923
  3. Sign up online without leaving your home

Once you’ve decided how to get in touch, all you have to do is follow these steps to apply for the money you need:

  1. Fill out the registration form.
  2. Submit your important documents to your LoanMart representative
  3. Sign your LoanMart agreement1
  4. Collect your funds1!

Now that you’re familiar with what you need to know to begin the title loan refinancing process, you may not need to worry if you got stuck with high interest rates by your lender. Reach out to LoanMart today and find out if we can help relieve some financial stress1.

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