I’ve heard from some friends that you can get a loan with your car title and I could really use the money this month. How do you get a loan using your vehicle’s title?
Reviewed by Shannon Martin, Licensed Insurance Agent.
Your friends are correct! You can use your vehicle’s title to apply for a car title loan. The process varies by lender, but it’s pretty straightforward and you should only need a few additional documents.
Car title loans use your car as collateral, meaning the lender can repossess your vehicle if you cannot repay the loan. To find a loan with a low APR and favorable terms, you should compare offers from multiple lenders.
To simplify the application process, you should gather the following:
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