2006-07-08 07:51:06 · 4 answers · asked by dustin42379 1 in Cars & Transportation ➔ Other - Cars & Transportation
It means the lienholder holds title to the vehicle until you pay off the loan.
2006-07-15 07:30:14 · answer #1 · answered by The Mick "7" 7 · 18⤊ 0⤋
A car title loan is where you go to a place like a pawn shop, and they loan you a few hundred dollars and an INSANE interest rate, and use the title to your car as collateral - if you default on this loan shark loan, you lose your car - bad news, avoid at all costs.
2006-07-08 15:06:11 · answer #2 · answered by valleyautomotive 2 · 0⤊ 0⤋
a car title loan is a loan in which you put your car title up as collateral. if you dont make payments on the loan the bank takes your car, sells it and gets its money that way. if you have a lien on the title you usually cant get a car title loan.
2006-07-08 15:04:57 · answer #3 · answered by alabaster 1 · 0⤊ 0⤋
you probably meant a lien, a lien is what companies will put on a title to indicate that debt is unpaid, meaning that the title still cannot be transfer. When you finance a new car, the finance company will put a lien on your car title to indicate that you owe them money.
2006-07-08 15:00:42 · answer #4 · answered by through103 2 · 0⤊ 0⤋