Best Car Title Loan Refinance Companies of 2024

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Author : Chris Morgan
Updated on : January 1st, 2024

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Refinancing a car title loan is no small matter. If you’ve found yourself in a situation where you need to refinance your car title loan, you may not be sure where to even start.

Loan refinancing is most commonly applied to mortgages or student loans, but you can also refinance a title loan. There are many companies out there that offer title loan refinancing as a service. 

However, refinancing a loan can be tricky for first-timers, so you shouldn’t just go and blindly trust any company out there. Only a select few of them have solid enough track records worthy of being trusted.

This article will explore the best car title loan refinance companies. We’ll also break down how a title loan refinance works, and how you can apply for one. By the end, you’ll not only know which companies to trust, but also how to use a title loan refinance to its maximum potential.

The Best Car Title Loan Refinance Companies

The best car title loan refinance companies will always have your best interests at heart. They will take a complete look at your current loan terms, and craft a new title loan that makes the most sense given your financial situation.

Only a few companies have been able to do this time and time again for their clients. These companies are Max Cash Title Loans and LoanMart, with Loan Center and Title Max as two great alternatives.

Max Cash Title Loans

Max Cash Title Loans Logo

Max Cash Title Loans is the first company to consider for a title loan refinance. They are one of the best-known names in the industry, having helped over 1 million customers in 49 states find or refinance their title loans.

Max Cash is not a direct title loan lender. Instead, they are a platform that matches clients with certified lenders. This offers them two huge competitive advantages:

  • They are a completely free service. Without spending a single penny, you can get started by filling out their online application.
  • They have a huge network of lenders. A single application will put you in front of multiple lenders, increasing your odds of refinancing your loan.

Due to their wide network and availability across almost every US state, most clients will be able to find a title loan refinance at Max Cash. Here is our full list of all the reasons we like Max Cash:

  • It’s Free
  • Quick and Easy Online Application
  • Biggest Network of Title Loan Lenders
  • Transparent About Rates and Services
  • Fair Evaluation of Car Value
  • Ability To Compare Interest Rates and Loan Amounts
  • Protects Your Personal Information
  • Top-Tier Customer Service
  • Bank Account Not Required

Even if you have poor credit, you should have plenty of refinancing options at Max Cash. Just be sure to check that Max Cash has lenders in your state: we have all that information and more in our full review of Max Cash.


LoanMart Logo

LoanMart is a national title loan provider that has been around since 2002. Over the years, they have served over 250,000 customers in 29 states and 1,301 metropolitan areas. One of their main services is helping customers refinance existing car title loans.

Unlike Max Cash, LoanMart is a direct lender, meaning that they come up with the loan terms and provide the funds. Their business is driven by three main pillars: exceptional customer service, focus on financial education, and protecting client information.

One of LoanMart’s greatest advantages is their “Three Day Peace of Mind” guarantee. This allows clients to try out a title loan refinance for up to three days before being locked into the terms.

Here is a full list of reasons why we like LoanMart:

  • Three Day Peace of Mind Guarantee
  • Excellent Customer Service Support
  • Dedicated to Financial Education
  • Protects Your Personal Information
  • Competitive Rates
  • Secure Funds Quickly
  • Multiple Loan Options

Loan Center

Loan Center Logo

Loan Center is another national direct lender that is based in Los Angeles. They have directly funded and refinanced title loans worth over $5 million in total.

When you run into a financial emergency, Loan Center can quickly get you the funds you need. They also specialize in refinancing existing title loans, having successfully helped thousands of clients reduce their monthly payments.

Loan Center does their best to live up to their name of “Lending Made Easy.” Since 2015, they have offered very competitive rates among other title loan companies, though they do only operate in 8 states: Arizona, California, Georgia, Idaho, Missouri, New Mexico, South Carolina, and Utah.

Though they do have less coverage than the other recommendations, we still like Loan Center for the following reasons:

  • Quick and Easy Online Application
  • Bad Credit Scores OK
  • Competitive Rates
  • Car Does Not Need To Be Paid Off
  • Secure Funds Quickly
  • Multiple Loan Options


TitleMax Logo

TitleMax is our fourth and final recommended company for title loan refinances. Since their first physical store opened in 1998 in Georgia, they have expanded their operations to over 1,000 locations in 15 states.

TitleMax has the benefit of experience on their side. Today, their application process is so quick that you could walk out of a store with your refinanced loan in as little as 30 minutes. TitleMax also offers very competitive rates in the industry.

They also offer a variety of ways to pay off your refinanced loan. One of the more unique methods is with their Universe Silver Deposit Account. They can deposit the money into this account and issue you a debit card which you can use to access the funds, making it very easy for those without a bank account.

These are some of the other pros we like about TitleMax:

  • Extensive History and Experience
  • Quick and Easy Online Application
  • Bad Credit Scores OK
  • Competitive Rates
  • Secure Funds Quickly
  • Variety of Payment Options
  • Bank Account Not Required

What Is a Car Title Loan Refinance?

A car title loan refinance is when another lender pays off your old title loan and offers you a new one with better terms. The main reason for doing this is to get a lower monthly payment on your new title loan compared to your old one.

As a simplified example, say you have $5,000 left on your title loan balance. The loan was made at a 100% interest rate and you have 12 monthly payments left. This puts your monthly payment at $678.98 per month, or $8,099.75 total including interest.

A company could then offer to pay off your entire old title loan in exchange for a new title loan at a 70% interest rate for 12 months. This is called a title loan refinance. This would lower your monthly payments to $590.95 or $7,091.37 total.

In this example, a title loan refinance can save you $1,000 on your title loan, and about $90 per month. In theory, the refinance company also benefits, because they still earn the interest on your new title loan. It’s a win-win situation!

It’s important to realize that a title loan refinance does not exempt you from your debt entirely. It simply is a tool to help lighten your debt if the monthly payment is getting too high.

Benefits of Refinancing Your Title Loan

As we’ve seen in the example above, refinancing your title loan can be the right financial move for many reasons. Here are just some of the benefits of refinancing your title loan.

Lower Monthly Payments

The primary motivation for refinancing a title loan is to lower the monthly payment. If you feel that you are overpaying for your title loan, or the monthly payments have simply gotten too high, we encourage reaching out to Max Cash for refinancing options.

Lower Interest Rates

Lower interest rates usually go hand in hand with lower monthly payments. Because title loans usually have sky-high interest rates, finding a company to refinance the loan at a lower interest rate can significantly cut your monthly payment.

You Need Help Making Payments

If you are falling behind on payments, reaching out to a company for refinancing can be an option. Refinancing your title loan at a lower interest rate can give you immediate financial relief by making your monthly payments more realistic.

Avoiding Vehicle Repossession

The ultimate consequence of not paying back a title loan is vehicle repossession. Lenders can repossess your vehicle and sell it in order to cover any remaining balance on your loan. To avoid vehicle repossession, don’t hesitate to reach out to a title loan company for refinancing.

Switching to a Better Company

Some title loan companies aren’t very forgiving once you start missing monthly payments. Most lenders are willing to work something out, but this isn’t everyone. Switching to another company that you know has your best interests in mind can take both a financial and emotional load off your shoulders.

Reasons To Not Refinance Your Title Loan

There are some circumstances where it’s better to not refinance your title loan. Sometimes it just doesn’t make financial sense, as we’ll see below.

There Are Loan Refinance Fees

Usually, there will be fees associated with the title loan refinancing process. Before accepting the new loan, be sure you know about these fees and how much it will cost you upfront to refinance the loan.

There is a small chance that these fees make it not worth pursuing the refinance. If this is an issue, you may be able to negotiate these fees with the refinancing company.

Lower Rates and Payments Not Guaranteed

It’s rare, but it’s possible that you might not come out on top after refinancing your loan. This often happens because people don’t read the fine print or are misled by a scammy company.

Refinancing your loan does not automatically mean a lower monthly payment. This is why it’s always a good idea to sit down and crunch the numbers before refinancing your loan. A good company will do all of this for you, but it’s also best to verify those calculations yourself.

How to Refinance a Title Loan

Refinancing a title loan is not super complicated. Most companies such as Max Cash have similar processes for refinancing title loans, which usually consists of these five general steps:

  • Fill out an application. At Max Cash, you can do this online. You’ll be asked for information you’d provide for a regular title loan, including basic information about yourself and your car. You may get a free estimate of your refinance loan terms right away.
  • Send in any additional documents. A representative will usually get back to you soon and ask for more documents. These include your photo ID, proof of income, car insurance, and most importantly, your current loan terms.
  • Review your refinance terms. You will be presented with a new title loan. Spend the time to look over the terms and ensure that it makes financial sense to continue with the refinance.
  • Sign or decline the contract. Only if everything looks good, go ahead and sign the contract. Otherwise, you can still decline the contract and try the entire process again with another lender.
  • Get your funds. You should get your funds the day of signing the contract. Your old title loan should be paid off by your new loan provider, and future payments will go towards your refinanced title loan.

What If You Can’t Repay Your Title Loan?

You may feel anxious or scared of having your vehicle repossessed if you can’t repay your title loan. However, if you’re starting to fall behind in payments, don’t panic. There are still many things you can do to save your car.

Work It Out With Your Current Lender

If you’re in a financial hole and unable to make an upcoming payment, let your current lender know about it sooner rather than later. The biggest mistake most people make is that they try to avoid all contact with their lender.

If you let them know early enough, they may grant you additional time to make the payment. Alternatively, they might be willing to accept a partial payment.

In any case, do your best to show that you are trying to make the payments, even if you’re short on funds. Trying to avoid your lender may leave them with no choice but to go ahead and repossess your vehicle.

Look Into Refinancing The Loan

Say that you’ve tried talking it out with your current lender, and they’re unwilling to make accommodations for you. If your current monthly payment is too high, now is a good time to look at refinancing options.

Hopefully, if you have been making the majority of your payments on time, your credit score should have improved slightly. A higher credit score can possibly qualify you for better loan refinance terms.

We highly recommend starting with Max Cash and a few other of our top picks to see who can offer you the best rates. Lowering your monthly payment could save your car from repossession.

Consider Other Settlements

If you’ve exhausted all other options, you might consider reaching out to a debt relief service, or considering other settlements. A few of these settlements include:

  • Debt settlement. In some cases, your loan provider may be willing to accept a lump sum payment to settle the loan. This has the benefit of allowing you to keep your car, but will also result in a negative item on your credit report. This can stay on your report for seven years, so be sure to consider the extent of all the pros and cons.
  • Sell your car. It’s not ideal, but you may need to sell your car to provide some financial relief. This can allow you to settle the loan and hopefully have some extra money to spare.

If you cannot refinance your title loan, you must pick one of the above settlements. Otherwise, you will default on your title loan. This is extremely bad, as you’ll end up with a severe mark on your credit report and your car will be repossessed.

As a result of all this, it’s likely that your credit will have taken a significant hit. For a longer-term solution, consider looking into a credit repair service like Credit Saint. Repairing your credit score can help you secure much more affordable loan terms in the future.

Conclusion and Next Steps

A title loan refinance is a great tool to have your disposal if your monthly payments get too high. However, always be sure to verify that you come out on top after a refinance. Hopefully, this article gives you a better idea of how a title loan refinance works and how you can use one to your advantage.

Your next step is to reach out to Max Cash by filling out their application or talking to a specialist. This could be the start of a new title loan with better terms and more savings for you.

If you need cash fast, get in touch with

Max Cash.

Max Cash Title Loans Logo

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About the Author

Chris Morgan

Chris Morgan is a credit expert and founder of Credit Help Info. He has been featured in Addition Financial, GOBankingRates, MSN Money, Yahoo Finance, and many other publications. He has read hundreds of books and resources on finance and the credit industry. Because he did this, you don’t have to. As a school teacher for over 20 years, Chris enjoys taking complicated material and breaking it down into manageable information that’s easy to understand.

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