How to Have a Finance Company Buy My Title Loan

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Title loans can be a convenient way to access quick cash when you need it the most. However, there may come a time when you find yourself in a position where you want to sell your title loan to a finance company. This could be due to a variety of reasons, such as needing a lump sum of money, wanting to get out of debt, or simply wanting to transfer the loan to another lender. In this article, we will explore the steps you can take to have a finance company buy your title loan, along with some frequently asked questions related to this process.

1. Research Potential Buyers:
Before approaching any finance company to sell your title loan, it is crucial to conduct thorough research. Look for reputable companies in your area that specialize in buying title loans. Read reviews, check their licensing, and ensure they have a good track record. Remember, you want to deal with a trustworthy company that will offer you a fair deal.

2. Gather Necessary Documents:
To sell your title loan to a finance company, you will need to gather all the necessary documents. These typically include your original loan agreement, vehicle registration, proof of insurance, and a valid ID. Make sure all your paperwork is up-to-date and in order to avoid any delays or complications during the selling process.

3. Calculate the Amount You Owe:
Before approaching a finance company, it’s essential to have a clear understanding of the outstanding balance on your title loan. This will help you determine how much you should expect to receive from the sale. Remember to include any additional fees or interest charges that may be applicable.

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4. Contact Finance Companies:
Once you have done your research and gathered all the required documents, it’s time to start contacting finance companies to inquire about selling your title loan. Provide them with accurate information about your loan, including the loan amount, the remaining balance, and any other relevant details. Be prepared to answer any questions they may have about your loan.

5. Negotiate the Sale:
When you receive offers from finance companies, take the time to compare them and negotiate the best deal. Keep in mind that the amount you will receive may be less than the outstanding balance on your loan, as finance companies will often offer a discounted price. However, it’s important to find a balance that works for both parties involved.


Q: Can I sell my title loan even if I have bad credit?
A: Yes, you can still sell your title loan to a finance company, regardless of your credit history. Unlike traditional lenders, finance companies that specialize in buying title loans often consider the value of the collateral (your vehicle) rather than focusing solely on your credit score.

Q: What happens to my vehicle if I sell my title loan?
A: When you sell your title loan, the finance company becomes the new lienholder of your vehicle. This means that they will have the right to repossess your vehicle if you fail to repay the loan according to the terms and conditions agreed upon in the sale.

Q: How long does the process of selling a title loan take?
A: The time it takes to sell a title loan can vary depending on various factors, such as the finance company’s internal processes and the complexity of your loan. In some cases, the sale can be completed within a few days, while in others, it may take a couple of weeks.

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Q: Will selling my title loan affect my credit score?
A: Selling your title loan should not directly impact your credit score. However, it’s important to note that if you have any outstanding debts or missed payments associated with your title loan, these could affect your credit score independently of the sale.

In conclusion, selling your title loan to a finance company can be a viable option if you find yourself in need of immediate cash or prefer to transfer the loan to another lender. By researching potential buyers, gathering the necessary documents, and negotiating the best deal, you can successfully sell your title loan and alleviate any financial burdens you may have. Remember to carefully consider your options and consult with professionals if needed before proceeding with the sale.