What is a car title loan?

Answered by Car Loans Expert Eric on April 7, 2021

I need some money fast and my cousin recommended looking into a car title loan. What is this?

expert avatar

Eric

Car Loans Expert

“A car title loan is a type of loan that provides the borrower with access to quick cash in exchange for handing over the hard copy of their car title. The title loan company then places a lien against the vehicle, and you can’t receive a lien release until you pay the amount back.

In most cases, you have 30 days to pay the amount back, plus fees and interest. “


Car Loans

Have an insurance question?

Our insurance agents are ready to help you, for free.

Ask your question, it’s 100% free
Recommended
Thousands of customers saved on average $887/year on their car insurance with Jerry
This app is great, but the customer service is even better! Not to mention convenient! My husband and I got the lowest rate (much lower than the rates I was finding online through my own searches), quickly, and pretty much all through text message! Thank you so much for a hassle free experience👍
user
Gabriella R.
Find savings (100% Free)
stars
4.6/5 Rating on App Store
logos
logos
logos