Do you currently have a title pawn but find that you have misplaced your car title? It’s important that you replace your car title because it demonstrates ownership of your vehicle. Luckily, you can easily inquire for a lost title even if you currently have a title pawn.
How Can I Apply for a Lost Title if I Have a Title Pawn?
When you realize you have a lost title, the first step you have to do is inquire for a new one. Each state has a different process for car title replacement, but you can usually complete the process by mail or in person at your local Department of Motor Vehicles (DMV) or Secretary of State office (SOS).
When you visit the DMV or SOS office in person to inquire for a lost title, you will usually need the following:
- Government-Issued Photo ID
- Car Registration
- Completed Car Title Replacement Form
- Money for the Replacement Fee
What if I Need to Update a Lost Title when I Have a Title Pawn?
There are various reasons why someone may need to update their car title. If more than one name is on the title, you may want to remove a name so the car is entirely yours. Or perhaps you want to add a name to the car title, that way you have equal ownership with a family member. Either way, you can easily update a lost title when you go to replace a lost title.
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Updating a car title will require an additional fee, so make sure to check the DMV or SOS website to learn how much money you will need for the car title update and what forms you need to fill out ahead of time.
Can I Apply for a Refinanced Loan if I Have a Title Pawn and a Lost Title?
If you needed emergency money and obtained a title pawn, you may have been initially relieved. However, if you find that your terms are not ideal or you need additional quick cash to cover an unexpected expense, consider refinancing!
When you are approved for a refinanced loan, you could receive a multitude of benefits, such as:
- Lower Interest Rates
- More Emergency Money
- Lower Monthly Payments
- More Time for Repayment
The process to refinance your title pawn starts with the simple inquiry process. But if you have a lost title, you need to first get a copy of your car title. Once you have completed the process to replace a lost title, you could start the refinance process!1
How to Apply for a Refinanced Loan if I Have a Title Pawn?
If you have a title pawn that uses your car as collateral, you may want to refinance to regain possession of reliable transportation. When you refinance, you could choose to do so with another type of loan, such as a title loan.1
Title loans typically use the car title as collateral, not the actual car. If deemed eligible, you could receive better terms and get to keep your car during the repayment process. To start the inquiry process, you could call a title loan business or complete an inquiry form online.
During the initial inquiry, you will be asked several questions about your car. The vehicle year, style, make, model, and current mileage details will be used to determine the current value of your car. If your car has enough value, you may get the green light to continue the approval process.
Documents Needed to Apply for a Refinanced Loan if I Have a Title Pawn?
The documents needed to inquire for a refinanced loan are similar to the documents you used to obtain the title pawn. But in addition to the documents used to verify your identity and income, you also need to provide information on your current title pawn.
- Car Title: The car title is necessary if you want to refinance a title pawn. If you have a lost title, you need to inquire about a copy.
- Photos of the Car: The photos of the car are used to confirm the current condition of the car.
- Proof of Income: As proof of your ability to repay, you may show paycheck stubs, bank statements, and more.
- Proof of Residence: To be approved for a refinanced loan in your state, you can show proof of residence through phone bills, utility bills, credit card statements, house deed, etc.
- References: You can usually choose to submit personal or professional references.
Can I Apply for a Refinanced Loan if I Have a Title Pawn?
If you have a lost title, you can absolutely inquire to get a replacement. And if you have a title pawn, you could inquire to get a refinanced loan for better terms!
Title loans are known to offer flexible qualification requirements, affordable terms, and competitive rates1. To start the inquiry process for a refinanced loan, turn to title loans serviced by LoanMart! Call 855-422-7412 or complete the online inquiry questionnaire.
If approved for refinance, you could receive your money and new terms in as little as one business day.3
