What Is a Title Loan?
A title loan (also known as a car title loan) is a type of secured loan where borrowers can use their car title as collateral. A title loan known as a car title loan is easier to acquire than traditional bank loans where approvals often take many days, which can take too long for financial emergencies. In contrast, you can get approval for your title loan application in an hour. You also don’t need to have good credit to get approval.