An auto title loan, also known as a car title loan, pink slip loan, car equity loan, or auto collateral loan, allows you to offer the title of your vehicle as collateral for a loan. Auto title lenders loan a percentage of the vehicle’s value and place a lien on the title for a period during which the loan is outstanding. Once you’ve fully satisfied the repayment terms, the lien is removed and the title is immediately returned to you.
← 1. What is an automobile title loan?