A car title loan is a small short-term personal loan which retains your car’s title as collateral for the loan. Since the loan is secured, it will not incur the high rates of interest associated with other forms of short-term lending such as the cash advance. Also you are able to receive cash immediately for any type of emergency circumstance.

The first thing you’ll need to do is arrive at the true equity you now have in your automobile. If you currently do not own your car, it is very unlikely you are in possession of the title. However if you are looking to borrow money from a car title loan lender, you will need your title in order to apply for the loan.

Secondly look for an auto title loan lender that offers instant cash. These are companies that are dedicated to lending money based on the equity you now have in your car. You can find a significant number of auto title loan companies online. Generally the application process is very easy. All that is needed is that you visit the lender’s website, provide some basic personal information and hit the submit button. You should receive a preapproval in minutes.

Third, you will visit the lender and provide him or her with the title information as well as show him or her the automobile you wish to offer as collateral for the loan. He or she will assess the general condition of your car and provide a percentage of the car’s value based on the Kelley Blue Book.

The terms of the loan are explained and you are out the door with your cash in a matter of minutes.