How Does A Car Title Loan Work

how does a car title loan work


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How does a car title loan work? A title loan is meant to be a short-term loan however, you can keep the account as long as you need to if you make the minimum monthly payment on or before your due date.

Step 1: Apply online or come by our office to get approved for a loan. To be approved, please bring all required documents with you.

Step 2: Our title loan staff will complete a quick 5-minute inspection of your vehicle.

Step 3: You are given cash for the value of your vehicle. No keys are required; you get to keep your vehicle.

Step 4: Once you have paid back your title loan in full, we will release the lien on your vehicle and will return the title to you.

Learn more about how car title loans work here.

**Because of the high risk associated with short-term loans, the Annual Percentage Rate (APR) can be as much as 300%.

Responsible Lending

Jacksonville Title is committed to giving its customers the best experience possible.  How does a car title loan work? – Car title pawns are secured by the equity in your vehicle. This type of pawn is not intended to be a long-term solution. The max APR for a title pawn is 0%*, plus a mail fee of $5.91. Pawn repayment periods can range from 61 to 90 days.

Representative Example

If you choose to pay your pawn within 61 days, then the total repayment for a $100 loan is $100. The customer is also responsible for paying a mail fee of $5.91.

PAWN AMOUNT (Amount Financed) PAWN TERM (# of Days) PAWN FEE (Finance Charge) CHECK AMOUNT (Total of Payments) APR
$100 61 $0 $100.00 0%
Representative Pawn Examples (Changing Terms) One Time Fee Total
Amount Term Rate (APR) No. of Payments Monthly Payments Mail Fee
$100.00 61 days 0% 2 $50.00 $5.91 $105.91

 * This offer is only provided to customers whose applications originated via a paid Google advertisement. Your actual rate depends upon loan amount, loan term, credit usage, and history, and will be agreed upon between you and the lender.

Check our Additional Title Products, and discover what other financial options we can offer you!