By Contributing Author
No one ever knows when a problematic life situation makes him start thinking of selling his assets to generate cash fast. People usually think of selling an expensive watch at a pawnshop and also their cars. However, there is no need to go for those drastic solutions when a practical financial choice is available in the form of best car title loans. When you check how much you can get in the way of a title loan through a car title loan calculator, and then the amount doesn’t meet all your cash needs, you will start wondering whether I can get two title loans. If that’s your next question, then the answer to this question is yes.
How to Get Two Car Title Loans?
For this purpose, you must have cars with your name on both titles. If you are planning to generate immediate cash for the family, you and your wife can use their car title as the collateral and get two title loans simultaneously.
However, when you have one title loan already up and running, and you are thinking of applying for another title loan, it’s impossible. There is no limit on the number of times you get the best car title loans online; you can get as many as possible. However, you can only get them when you fully pay off your first title loan.
How Much Can You Get with Two Title Loans?
So, you have two different vehicles, and you are looking for two title loans. Now, when it comes to the loan amount calculator, it depends on each vehicle’s market value. It would help if you drove your cars to the car title loan provider’s office, so an auto dealer properly inspects your cars and provides an exact estimate of their market value. The loan amount is usually 25 to 50 percent of your car’s market value. If your car’s worth $1000, you can get $250 and $500 from one car.
Although it’s a car title loan, yet another vehicle doesn’t have to be a car. You can get a loan against the title of a motorcycle and truck as well.
What’re the Requirements for Two Title Loans?
If you are interested in getting two title loans, then the very first requirement is that the titles of both vehicles are clear and lien-free. In case you don’t have another car, but you still need more funds, you can refinance your car title loan from the same loan provider. Title must have your name if you want to get a loan. And if the car’s title has your wife’s name, then your wife will have to apply for the loan. Other things required for this loan are proof of income, vehicle insurance proof, and government-issued identification card.
If your question is, can I get two title loans on the same car simultaneously, then answer is no, it’s not an option. No lender will give you another loan for the same title unless you apply for an auto refinancing option.