PriceProtect™
DriveShield™
GarageGuard™
Services
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Renters Insurance
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
Can you get a loan on your car without a title?
I don't own my car, so I was told I couldn't get a title loan. My job is late paying me and I have bills due. Can you get a loan on your car without a title?
Lauren Smith · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
I’m sorry to hear about your job and that you’re struggling. I know how difficult that must be. While you can’t take out a title loan, you can take out an auto equity loan, even if you don’t own the car outright.
An auto equity loan uses how much your car is worth to determine a lending amount. So you must have positive equity in the car, meaning the car is worth more than what you owe on your loan. You can determine how much equity you have by finding your car’s
actual cash value
and subtracting how much you still owe on your car loan. However, you should know that an auto equity loan will have a high-interest rate. If you cannot pay it back, you risk repossession and a hit to your credit score. To find the best rate, be sure to shop around with multiple lenders and review the loan’s terms and conditions before signing.
If you’re looking for other ways to save, use the
Jerry
app. The Jerry app collects quotes from 50+ top insurance companies, like Nationwide and Allstate, in seconds! The average Jerry user saves $879 a year!View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
Join 4M+ members in lowering their car insurance
You Might Also Be Interested
Read Advice From Car Experts At Jerry
What Others Are Asking
Browse More Content
Insurance in Your State
Easiest way to compare and buy car insurance
No long forms
No spam or unwanted phone calls
Quotes from top insurance companies