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Title Loans


Registered Member
We're in a tight spot right now, and need money right away. Has anyone ever used a Title Loan for a quick loan? Are they worth it? What are the pros and cons?

Thanks, in advance, for your advice!


Registered Member
I personally do not consider them worth it.

The pro is that you can get money quickly.

The con is that it will cost you, most of the time, a lot.

They are similiar to a post-dated check that you can do at a quick cash place. You write a check and they will hold it for up to two weeks, but it costs about $20.00 for each $100.00 you want to get. So if you want them to loan you $200.00 for two weeks, you will have to write a check for $240.00. $200.00 for the money they give to you, and $40.00 for them to wait two weeks to deposit the check.

Using the Title Loan option, I believe that they tell you how much they are willing to give you for holding the Title, you tell them how much you would like and then they tell you how much it will cost you to get your Title back. I believe that sometimes it can be as much as 40% of the original amount. (Depends on the place and what their fees are.) So if they were willing to give $1000.00 and you took that amount. If their fee was 40%, you would have to pay them $1400.00 to get you title back. I do not know what their time periods are though. That you would have to look into.

So personally, I think that they are too expensive of an option, but that is just my opinion.
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Registered Member
Thanks for your opinion. No one else has even touched the subject.

The one place I talked to said they had the "lowest" rate guarantee, and a 30-day-same-as-cash option. However, they wouldn't tell me what their "lowest" rate was. Everywhere else it was 25%. Too steep for me! But, I guess if I HAD to have money quick, it would be worth checking into again.