How can I get a title loan on my car?

There have been a lot of ads for title loans where I live. What is a title loan and how do you get one?

Title loans are complicated, but it’s basically trading the title of your car for quick cash.
Keep in mind, title loans are illegal in many states as they have a high annual percentage rate, which can lead to high levels of debt and repossession of your car.
You will have to be 18 years of age or older for any loan. The term for a title loan is fairly short, generally between 15 to 30 days. You can usually only get a title loan on a car of which you have 100% ownership. Title loans usually don’t require proof of income or credit scores, but you’ll need:
  • Valid ID
  • Name
  • Address
  • Phone number
  • Email address
  • Information about the car you want to get a title loan on
Because these types of loans can be dangerous and are considered predatory, if you’re thinking about a title loan, try something else first, like: Asking for an extension or some short-term help from lenders or credit card companies
  • Ask friends and family for help
  • Check local community resources like churches or libraries for financial advice programs/assistance
  • A personal loan from your bank or credit union
If you’re considering a title loan because you want to save money, consider looking for cheaper car insurance instead. Jerry can help! Jerry pulls quotes from the top 50 companies in under a minute and delivers the best deals right to your phone. The average Jerry user saves $879 a year on car insurance!
Lauren Smith
Answered on Nov 02, 2021
Lauren has written for World Nomads, the Matador Network, Korvia Consulting, and once upon a time Three Fates Games. She graduated from Columbia College of Chicago with a BFA in Creative Writing. After graduating, she moved overseas and lived in South Korea where she spent her free time traveling and going on road trips with friends. She misses the rest stop potatoes and is trying to figure out how to recreate them at home. She's now based outside of Chicago and when she's not writing she spends her free time reading, playing video games, and exploring whenever she can.

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