What does car title loan mean?

car title loan meaning in Law Dictionary

vehicle subject loan, or title loan, is that loan where the debtor provides their particular vehicle name as collateral for a loan.

car title loan meaning in Business Dictionary

A situation which makes use of the title of a car as security for a short-term loan. The loans target low-income consumers and also have a high interest. Consumers ought to be the lien holders. The financial loans usually final thirty days or fewer, and also the car is forfeited if a loan is certainly not compensated. Also called auto title loans and name financial loans.