Key Takeaways:
- A Title Loan Buyout lets you replace a high-interest loan with a more affordable option while still keeping your car.
- Presto Title Loans offers lower rates, smaller payments, and fully amortized loans to help you save money and pay off your loan faster.
- You can even consolidate multiple Title Loans into one simple, manageable payment with Presto.
- The process is fast, local, and easy. Just bring a few documents, and Presto handles the rest.
If your current Title Loan feels more like a trap than a solution, you’re not alone. Sometimes, people take out loans in a hurry without shopping around, expecting quick help, only to find themselves stuck with a high interest rate and never-ending payments. If you’re looking for help getting out of a Title Loan with a lower-cost alternative, there’s good news: You have options.
This guide will show you how Title Loan Buyouts work, how they can save you money, and how Presto Title Loans makes the whole process quick and easy.
What Is a Title Loan Buyout?
A Title Loan Buyout is when a new lender pays off your existing loan or multiple loans and refinances it with a new one that is less expensive. It’s also called Title Loan refinancing or Title Loan consolidation.
With a buyout, you still use your car’s title to secure the loan, and yes, you still get to drive your car. So, instead of staying stuck in a high-rate loan that isn’t helping you, you can start fresh with lower payments and better terms.
Why Do People Choose a Loan Buyout?
Here are a few common reasons people make the switch to Presto:
- Monthly payments are way too expensive.
- A loan balance never seems to go down.
- Expensive interest costs.
- They want a loan they can actually afford and pay off in a timely manner.
Getting out of a bad loan arrangement brings relief, control, and peace of mind. Presto helps make that happen.
How Presto Makes Title Loan Buyouts Better
When you choose Presto, you’re choosing a lender that’s on your side. Here’s how we help:
- Lower rates than most competitors, often up to 50% less.
- Monthly payments as much as 40% lower.
- Fully amortized loans, meaning every payment goes toward paying down your balance.
- No prepayment penalties, so you pay off early and save even more.
- Fast approvals and funding, usually the same day.
- Local support; we’re Arizona-based with multiple locations across the state.
You don’t have to settle for a high-interest rate loan. We’ll help you switch and save.
Can You Consolidate Multiple Title Loans?
Yes! If you’ve got more than one loan, we can combine them into one simpler loan that’s easier to manage and more cost effective.
This is called a Title Loan consolidation, and it helps you go from juggling multiple payments to managing just one. It can reduce stress, make your payments more affordable, and help you save money.
What You’ll Need to Start a Title Loan Buyout
Getting started is simple. Just have these things ready:
- A government-issued photo ID.
- Your vehicle’s registration or title if you have it (in your name).
- The name and contact info for your current lender.
- Something to document your current source of income (pay stub, bank deposits, gig app screenshots, or whatever shows you make money).
- Your vehicle available for evaluation.
That’s it! We’ll walk you through the rest.
How the Title Loan Buyout Process Works With Presto
Here’s what happens when you choose a Title Loan Buyout with Presto:
- Get a free quote. Tell us about your current loan and your vehicle.
- We review your info. We’ll evaluate your car and your application.
- Presto pays off your old lender. We handle the payoff, so you don’t have to.
- You start fresh. We set you up with a new, better loan. One that fits your budget.
You’ll enjoy a lower interest rate, reduced monthly payments, a faster payoff, and, most of all, the money you will save when you refinance with Presto.
How to Get Help Paying Off a Title Loan
Just because your current loan isn’t working for you doesn’t mean you have to remain stuck in it. There’s a better way, and Presto Title Loans is here to help. We’ll pay off your old loan and set you up with something that’s more affordable and easier to manage.
Ready to switch? Apply online here or stop by your nearest Presto Title Loans location and ask about a Title Loan Buyout today.