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