Where can I get a loan against my car?

Where can I get a loan using my vehicle as collateral? I need cash fast as I can’t afford my bills this month.

Answer
I’m sorry to hear you’re having difficulties! If you’d like a loan that uses your car as collateral, you’ll need to find a lender that offers car title loans. The most common places to find title loans are through:
  • Online lenders
  • Lenders specializing in car title loans
Before getting a title loan, be aware that the APR is often very high and the repayment period is quite short.
Additionally, the bank or lender can repossess your car if you don’t repay the loan on time, making title loans increasingly risky.
If you need some extra money immediately, consider applying for a personal loan with your bank or credit union. These are short-term loans, but you don’t risk losing your car. You’ll also likely get a much better interest rate.
Since money is tight, consider looking at ways to reduce your monthly expenses. One way to save money is with Jerry. Jerry gathers quotes from over 50 top insurance companies. The average Jerry user saves $879 a year on car insurance!
Phoebe Mah
Answered on Nov 24, 2021
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