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Max Cash Title loans has almost 5-star rating with Consumer Affairs so it is a promise made to you that the agents at Max Cash Title loans will do their best to make sure you get the funds your requesting if completing the loan is possible, every option will be explored for you, and every tool utilized to assist in the completion of the loan.
Can you get a loan on a vehicle that is still being financed? Yes, you can! Depending on the state you live in and how much you still owe on the vehicle.
Getting a loan on a vehicle that is still being financed through a bank can be a little tricky, especially when trying to stay within the Federal guidelines to get the loan completed. Now in some states you are unable to get a loan against any vehicle traditionally financed, but that would not be the decision of the lender, but a state mandate. Having a vehicle that is still traditionally financed requires certain criteria to be met, to have the loan accomplished legally.
Now when you purchased your new vehicle the last thing on your mind was, thinking about getting an auto title loan on it. The agents at Max Cash Title Loans understand that this may be embarrassing situation for you and you may be a little frustrated with your current financial position.
When first inquiring about the loan there are certain issues needed to be discussed about the vehicle and what is owed on it. The general rule of thumb when trying to get an auto equity loan is to make sure there is still equity in the vehicle. When doing a buy out on your current loan, financed through your bank its key to confirm that equity in the vehicle is double to what is owed on the vehicle. So, let us say you owe $5,000 on your traditionally financed vehicle, to have the vehicle paid off (buy-out), and a loan received against its equity, the vehicle needs to have a minimum of $10,000 in equity. Читать далее