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How much can I get for a title loan on my car?
How much money would I be able to get if I take out a title loan on my car? I’m trying to figure out if it’s worth it.
Liz Jenson · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Usually, the average car title loan is 25-50% of the value of your car. This means that most title loans are worth $100 to $5,500, but some lenders will allow you to borrow more.
Keep in mind that title loans often have very high APRs and short repayment periods. This means that the more you take out, the larger your monthly payments will be. Make sure that you can make the monthly payments before taking out the loan to avoid losing your vehicle to repossession.
If you can, try to avoid taking out a loan by saving some money in other areas. Many people pay too much for car insurance, but the
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app can help you find the best rates available to you in a matter of minutes. Jerry compares personalized rates from the top 50 providers, including Nationwide, Allstate, and Travelers, and delivers the best deals to your phone in minutes for free. The average Jerry driver saves $879 a year on car insurance!View full answer
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