What is a car title loan?

Car title loans are loans that use your vehicle’s value as collateral. Customers borrow against the value of their vehicle in order to receive a lump sum of money through a car title loan. Since the loan is based on your car, you don’t need a perfect credit score to be eligible. The amount of your loan is determined by the value of your car. If your car is worth $5,000, you will have access to up to $5,000.