How to Get a Title Back From a Title Loan Company

A car title loan is a secured loan in which a loan company uses a borrower's car title as collateral. The loans typically carry high interest rates and are designed for short-term needs. Title loans can usually be obtained quickly by providing the vehicle title and verification of employment, or another source of regular income. Title loan companies typically do not check a borrower's credit score. Getting the title back from the loan company is easy once you have the money.

Things You'll Need

• Cash
• Vehicle title with lien

Instructions

1. Call the title loan company and find out the full amount you need to pay to reclaim your title. This amount will include the principal (the amount they loaned you), along with whatever interest you owe, presuming you have made no payments on the loan.

2. Return to the title loan company with the payment in cash. They will provide you, in the form of a lien release, paperwork verifying that you have repaid the loan.

3. Take the lien release along with your vehicle title to your local Department of Motor Vehicles (DMV). The title you currently have will show that the vehicle has a lien, indicating it is technically owned by someone else. Present the lien release and the title to the clerk, and for a small fee that varies by state, the DMV will provide you with a lien-free title to your car.

   If you do not have a local DMV office, send the lien release and title to the state DMV. Many states do not charge a fee if you obtain a title by mail, which is an advantage of this method, although you may have to wait several weeks to receive the clear title to your car.