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The office who loaned you the money keeps the title until you pay the loan back in full. It's kept for security purposes. If you one day refuse to pay the loan back the office who loaned you the money can keep your car to satisfy the loan.

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14y ago

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If the loaner keeps a car title is it considered a secured loan?

A car title seems to be considered a secured loan because it can be used as collateral for whatever type of lending you may need. But checking with the preferred establishment is in your best interest.


What is a title loan?

A title loan is also known as car title loan. It is a type of secured loan where you can use your vehicle title as collateral to get the funds you need. When you borrow with your car title, you allow the lender to place a lien on the title of your car, SUV, RV, truck, or motorcycle in exchange for a loan amount. This loan don't rely on your credit score.


Can I get my name off the title and loan of my ex-son in law's van if he still has a loan on the van?

The loan must be paid off and you must sign the title over in order to get the title and loan out of your name and responsibility.The loan must be paid off and you must sign the title over in order to get the title and loan out of your name and responsibility.The loan must be paid off and you must sign the title over in order to get the title and loan out of your name and responsibility.The loan must be paid off and you must sign the title over in order to get the title and loan out of your name and responsibility.


What is Title loan?

A title loan is also known as car title loan. It is a type of secured loan where you can use your vehicle title as collateral to get the funds you need. When you borrow with your car title, you allow the lender to place a lien on the title of your car, SUV, RV, truck, or motorcycle in exchange for a loan amount. This loan don't rely on your credit score.


Can one title loan company find out if you already have a title loan?

Yes, they would obviously know about it. When a title loan company offers you a title loan, it will check the car title well in advance. When it checks the title, it will easily come to know about any liens.


Is it possible to get a title loan on a motorcycle?

Yes, it is possible to get a title loan on a motorcycle.


Bought a car out of state but loan is with your bank Who receives the title?

The bank receives the title until the loan is paid. If the loan is paid off then you receive the title.


Is there a statute of limitations of a title loan in Alabama?

No, there is no statute of limitations on a title loan in the state of alabama. As long there is a recorded security interest on your car title i.e." Lien" you are obligated to repay your title loan


Can you go to jail for title loan?

Can u go to jail for now paid a title loan


Can you get a title loan without vehicle inspection?

Can u get a title loan without a vehicle inspection


Can you sell a vehicle if the cosigner refuses to sign off on the loan?

The loan must be paid before you can transfer title to the car.The loan must be paid before you can transfer title to the car.The loan must be paid before you can transfer title to the car.The loan must be paid before you can transfer title to the car.


Can your car be repossessed on a title loan after gone into collections?

Yes, your car can be repossessed if the title loan is in collections. Actually, this is one of the most common ways for a defaulted title loan to be settled.