Overhaulin'

Explain to me how a car title loan works?

I heard them advertised recently. Hopefully I will never need one.

Public Comments

1. I have never heard it stated that way, but from what I gather, it's when you can use your title for collateral to get a loan. If your car is paid in full you can use it to get a lower interest rate when you need a loan for personal purposes.
2. first you must have a clear title and than you take it to a title leaning place and they will give you a loan against the car = you will have to have full coverage on the car and there is no limit on the interest they can charge!!! next to pay day loans it is the worst kind!!!!