Car Title Loans in USA Explainer May 2024
Car Title loan calculator
Loan details
Your loan estimate
Monthly payment
$285.83
Total principal
$15,000.00
Total interest payments
$2,149.54
Total loan payments
$17,149.54
Payoff date
05 / 2029
How it works
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Fill our simple formFill out one easy form and your inquiry will be submitted to our large network of lenders. Loan amounts range from $100 to $5,000
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Receive different loan offersReceive and review different loan offers and terms
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Review & accept your loan offer that best suits your needSelect and accept a loan that works for you.
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Money is deposited directlyThe funds are usually deposited within 1 business day.
United States Personal Loan Directory
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Car Title Loans in USA Explainer Video
FAQ
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1. What is a car title loan?
A car title loan is a type of secured loan where the borrower uses their vehicle as collateral in exchange for a loan amount.
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2. How much money can I get from a car title loan?
The amount you can borrow from a car title loan varies based on the value of your vehicle, but generally ranges from a few hundred to several thousand dollars.
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3. How do I apply for a car title loan?
To apply for a car title loan, you'll generally need to provide proof of ownership of your vehicle, proof of income, and other personal information such as your name, address, and phone number. You can apply online or in person at a lender's location.
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4. What happens if I can't repay my car title loan?
If you can't repay your car title loan, the lender may repossess your vehicle to cover the outstanding balance. This can have serious consequences for your finances and credit score.
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5. What are the interest rates and fees for car title loans?
Car title loans tend to have very high interest rates and fees, making them a more expensive form of credit compared to other loan options. Be sure to read the fine print carefully and understand all the costs associated with your loan before signing any agreement.
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6. Can I still use my car while I have a title loan?
Yes, you can usually continue using your car while you have a title loan. However, the lender will hold the title to your vehicle until you repay the loan in full.
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7. Are car title loans available in every state?
Car title loans are legal in many states, but there are some states that have outlawed or restricted them. Check your state's laws to see if car title loans are available in your area.
Car Title Loans rates
| How's your credit? | Score range | Estimated APR |
|---|---|---|
|
Excellent |
720-850 |
Varies |
|
Good |
690-719 |
Varies |
|
Fair |
630-689 |
Varies |
|
Bad |
300-629 |
Varies |
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After your lender has taken and approved your request, cash will be deposited directly into your bank account. That means you don’t have to take a trip to the bank to endorse and deposit a check or pay check-cashing fees.