How do I get a title loan for my car?

I got into a car accident. I'm okay, thankfully, but my car isn't. My insurance won't cover it all, but I need my car to get to work. I heard I can get a title loan to get it fixed quickly. How do I get a title loan for my car?

Answer
I’m glad you’re okay and sorry to hear about your car. You can get a title loan quickly if you are the sole owner of your car, meaning you’re the only name on your car title. Beyond the title, you’ll need a few other documents to qualify, including:
Some lenders ask for additional items like references or copies of your keys as well. With a title loan, your car is collateral. If you cannot pay the loan back, the lender will repossess your car.
Title loans are considered predatory loans that can snowball borrowers into debt and are illegal in many states.
Before agreeing to a title loan, consider alternatives like:
  • Talking with the mechanic to work out a payment plan.
  • A personal loan from a bank
  • A peer to peer loan
  • PAL (Payday alternative loan) with a credit union
Another easy way to reduce your monthly expenses is by using the Jerry app. Jerry collects customized quotes from 50+ top insurers like Nationwide, Allstate, Safeco, Progressive, and Travelers to ensure you’re always getting the best rate for the coverage you need.
Lauren Smith
Answered on Dec 01, 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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