Can I get a second title loan?

Quick Answer No, you can't get a second title loan on the same vehicle. You can only have one title loan at a time. If you want to borrow more money, you should consider refinancing your existing title loan or applying for a different loan altogether.

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Samuel Fisher Answer updated on Jun 14, 2023

Fact checked by Dwayne Dumesle

Unfortunately, you cannot place two title loans on the same vehicle 😟.

In all cases, for legal reasons and potential disputes over ownership in the event of default, you can't get an additional loan on your car title. However, if you have a title loan in place and need quick cash, refinancing your title loan is an option.

Learn: Can you refinance a title loan?

How does title loan refinancing work? Well, in a nutshell 🥜, a refi for a title loan works a lot like a refi on any other loan:

  • The new title loan lender will pay off your previous title loan.
  • The new lender will slap on new fees (you could have probably predicted that).
  • You'll start paying the new lender.

A title loan refinance is a feasible way for you to get more cash from the same car. Of course, we want to be frank, this is going to cost you. You may avoid defaulting and repossession (at least temporarily), but a new title loan means that you will be paying more in total debt.

Learn: How late can you be on a title loan payment?

Another option is to explore another loan type like an installment loan, the friendlier cousin of the title loan. Installment loans don't require collateral and (generally) come with better interest rates. We recommend looking into those along with a potential title loan refi, see what works best for you!

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