What is a title loan/pawn?
A title loan/pawn is a quick and convenient way for people who own their car without any liens (i.e., a lien-free title) to get cash using the car as collateral. It allows consumers to use an asset they own (their car) to solve short-term cash flow problems. Without title lending, many consumers would be forced to sell their vehicle in a time of need, probably at a discount.
