Frequently Asked Questions

A title loan is a secured loan that uses your vehicle title as collateral. You borrow money based on your vehicle's value while continuing to drive it. The lender places a lien on your title until the loan is repaid. If you fail to repay, the lender may repossess your vehicle.

Loan amounts typically range from $1,000 to $10,000, though some lenders offer up to $50,000 for high-value vehicles. Most lenders offer 25% to 50% of your vehicle's current market value. The exact amount depends on your car's make, model, year, condition, and mileage.

The entire process can be completed in as little as a few hours. Online applications take about 5 minutes, and you may receive offers almost immediately. Once you choose a lender and complete verification, funding can happen the same business day.

Yes! You keep and drive your vehicle throughout the loan term. The lender only holds onto your vehicle's title as collateral. You maintain full use of your car for work, errands, and daily life.

Most cars, trucks, SUVs, and motorcycles can qualify. Vehicles typically need to be less than 15 years old, in working condition, and have a clear title in your name. Some lenders also accept RVs, boats, and classic cars.

No! Title loans are secured by your vehicle, not your credit score. While some lenders may check credit, bad credit, no credit, or even bankruptcy typically won't disqualify you. Your vehicle's value is the primary factor.

You'll typically need: a government-issued photo ID, your vehicle title (clear and in your name), proof of income (pay stubs, bank statements, or benefits letter), proof of address (utility bill or bank statement), and vehicle registration and insurance.

Generally, no. You need a clear title with no liens. However, if you only have a small balance remaining, some lenders may pay off your existing loan and roll it into a new title loan. This is called a refinance.

Title loans are available in about 20 states, including Texas, Georgia, Arizona, Tennessee, Missouri, California, Nevada, Virginia, and others. Laws vary by state, and some states have banned or heavily restricted title lending.

Yes! Self-employed individuals can qualify by showing proof of income through bank statements, tax returns, 1099 forms, or other documentation showing regular earnings.

Title loan APRs typically range from 100% to 300% annually. This is significantly higher than traditional loans. Monthly interest rates often range from 25% to 50%. It's crucial to understand the total cost before borrowing.

Most title loans require monthly payments over 15 to 30 days, with the option to roll over into a new loan term. Some lenders offer installment plans with longer repayment periods. Payments typically include principal and interest.

Common fees include: origination fees (processing your loan), lien fees (recording the lien on your title), late payment fees, and rollover fees if you extend your loan. Always ask for a complete fee breakdown before accepting.

Yes, most lenders allow early payoff without prepayment penalties. Paying early can save you significant money in interest charges. Always confirm the early payoff policy with your specific lender.

Missing payments typically results in late fees and additional interest. Continued non-payment can lead to loan default and vehicle repossession. If you're struggling, contact your lender immediately to discuss options.

The main risks include: high interest rates making repayment difficult, the possibility of losing your vehicle to repossession, getting trapped in a cycle of debt through rollovers, and borrowing more than you can afford to repay.

If you default on your title loan, the lender can repossess your vehicle. They'll typically sell it at auction to recover the loan amount. If the sale doesn't cover your debt, you may still owe the difference (deficiency balance).

Title loans should be considered carefully and typically only for genuine emergencies when other options aren't available. Consider alternatives first: personal loans, credit union loans, borrowing from family, negotiating with creditors, or local assistance programs.

Alternatives include: personal loans from banks or credit unions, credit card cash advances, borrowing from friends or family, payday alternative loans (PALs) from credit unions, negotiating payment plans with creditors, and local emergency assistance programs.

Protect yourself by: only working with licensed lenders, never signing blank documents, reading all terms carefully before signing, avoiding lenders who pressure you, verifying all fees upfront, and keeping copies of all documents.

No, TitleHarbor is not a lender. We are a lead generation service that connects consumers with third-party lenders. We don't make lending decisions, set loan terms, or fund loans. All lending is done by independent lenders in our network.

We receive compensation from lenders when you submit a loan inquiry through our site and are connected with a lender. This referral fee doesn't increase your loan cost - it's paid by the lender from their margin.

Yes, we use industry-standard 256-bit SSL encryption to protect your data. We never sell your information to unauthorized parties. Your data is only shared with lenders in our verified network for the purpose of matching you with loan offers.

No, there is absolutely no obligation. Submitting an inquiry through TitleHarbor only connects you with potential lenders. You can review offers and decide whether to proceed. You can decline any or all offers at no cost.

We verify that all lenders in our network are properly licensed in their operating states, follow responsible lending practices, provide clear disclosure of terms, and maintain good standing with regulatory authorities.

Title loans are legal in about 20 states, with regulations varying significantly. Some states have interest rate caps and term limits, while others have minimal regulation. Some states have banned title loans entirely due to consumer protection concerns.

Your rights vary by state but typically include: receiving clear disclosure of all loan terms, a copy of your signed agreement, the right to rescind within a certain period, protection from unfair collection practices, and the right to dispute errors.

You can file complaints with: your state's Attorney General office, the Consumer Financial Protection Bureau (CFPB), your state's financial regulatory agency, and the Better Business Bureau. Keep copies of all documents and correspondence.

Lenders must disclose: the Annual Percentage Rate (APR), total amount of interest, all fees and charges, total amount you'll repay, payment schedule, consequences of default, and your right to rescind (if applicable in your state).

Repossession laws vary by state. Most states require lenders to provide notice before repossession, but some allow "self-help" repossession without court action once you default. Check your loan agreement and state laws for specifics.