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A title loan (also known as a car title loan) is a type of secured loan where borrowers can use their vehicle title as collateral. [1] Borrowers who get title loans must allow a lender to place a lien on their car title, and temporarily surrender the hard copy of their vehicle title, in exchange for a loan amount. [2]
If you live in one of the 25 states where car title loans are allowed, you will generally need to own your car outright to obtain a loan. (Note: 12 states offer these loans but with restrictions).
Having a good credit rating can help you get an auto loan without a job. If you have bad credit, consider waiting to apply until you're employed or improve your score. ... While some lenders offer ...
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A government-backed loan is a loan subsidized by the government, also known in the United States as a Federal Direct Loan, which protects lenders against defaults on payments, thus making it a lot easier for lenders to offer potential borrowers lower interest rates.
TitleMax, Inc. is an American privately owned title lending business with corporate offices in Dallas, Texas and Savannah, Georgia. The company has more than 1,100 stores in sixteen states. The company has more than 1,100 stores in sixteen states.
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