Title loans are the riskiest loans to take. This opinion comes from the lender who will come for your property if you fail to repay the loan. Unfortunately, in most instances, people with dismal credit scores are the ones who go for title loans. So it means that they have exhausted all other means of getting loans.

The lender will need you to provide your property documents before you can get a title loan. For example, you can use a car title, land title, or even a house.

However, if you do your calculations well, it may never get to the point of repossession. And that starts from taking a loan that you can comfortably repay.

But what should you do if you have exhausted all means of repaying the title loan? First, you can refinance your title loan to avoid repossession. And that is the best option you have if you have no other means of income to use.

But what is title loan refinancing?

If it reaches a point where you are now unable to repay your title loan, it’s always a good idea to think of ways to salvage your property. Remember, you can only get a title loan if you hand over valid ownership documents to the lender.

And that means that the lender has all rights to repossess your property if you fail to repay the loan.

To refinance your title loan, you can talk with your existing lender to get another loan to pay off the title loan. You can also look for another lender with better terms and apply for a loan that you will use to repay the title loan.

However, it would be best to get better deals with a refinance loan with a good credit score. But that should not worry you because your credit score will be better if you pay your title loan on time.

What do you need to refinance your title loan?

1.     Prove that you can repay

If you have reached a dangerous point of not repaying your title loan, the new lender will need you to prove that you can repay the new loan. You can provide them with your bank statements or salary paycheck. Once the new lender is satisfied with your proof, you can go ahead and discuss terms.

2.     The title loan agreement

The new lender would like to see your previous agreement with the old title loan lender. That will help him to know what amount you have been repaying and after how long. Furthermore, the agreement can prompt the new lender to give you better deals.

3.     Valid address and Identification documents

The new lender will also need you to provide your actual identity documents and address. To prove your address, you need to show a billing statement showing your exact address. Borrowers are quickly trapped in never-ending debt cycles, which often result in the loss of their vehicles. Reform Debt Solutions can be a debt saver in that case. Consider the alternatives if you require emergency cash and are unable to obtain it. When it comes to obtaining needed funds, there is no one-size-fits-all solution.

4.     The car Title

The new lender will also need to see the car title if you still need it as collateral. However, if you have built your credit score over time, you can take an unsecured loan. Taking an unsecured loan will remove the risk of losing your property over a loan.

5.     Vehicle Inspection

If you still want to use your vehicle as collateral, the new lender will need you to go for a vehicle inspection. In addition, you will still need to have valid comprehensive insurance. Having insurance will reduce the risk of losing the vehicle to an accident.


Yes, you can refinance your title loan to avoid repossession. However, you can also sell the property at the desired price, and you will repay the loan and have some balance.

Getting buyout existing title loans is easier as it is flexible, and get better payments which can be easier for you.

If you wait for the lender to take your property, you will get some losses unless you have never paid a penny of the loan. The lender will auction your collateral at their desired price, and you will never know how much they got.

However, selling the property with some other ownership details is more challenging, but it’s possible.