Auto title loans are short-term loans that are secured using your auto title, that is, by using your car or any other vehicle you own as collateral. It can serve as a simple way to get cash advance when you are in a jam because getting an auto title loan does not require a credit check. The lender will give you the money and at the end of the auto title loan period, you pay it back with interest. During the loan period, you can continue to use your vehicle; however, the lender will keep a spare set of the keys as well.
Under the terms and conditions of auto title loans, the lender is allowed to repossess your vehicle if you default on your loan payment. On the other hand, this type of loan can be an excellent solution to your financial problems as auto title loans are small consumer cash advance loans designed for short term emergency cash needs. It is also known as 30 day payday loan where you use your car title to secure the loan. You can get your auto title loan cash and continue to drive your car while you pay off your loan.