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What is a car title loan?
I need some money fast and my cousin recommended looking into a car title loan. What is this?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“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.
“
View full answer
- Gregory R.
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