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 two title loans on one car?
I applied for a car title loan, but the amount they gave me was less than I expected. I could really use the extra cash. Can I get two car title loans on the same vehicle?
Jack Walsh · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Applying for a car title loan is a quick way to get money in a pinch. But if you need additional cash, you cannot take out a second title loan on the same vehicle.
A title loan places a lien on the vehicle and uses your car as collateral. If you do not repay the loan, the lienholder can repossess your vehicle as payment.
You cannot take out another title loan because the loan amount is proportional to the vehicle’s value and you cannot borrow more than the car is worth.
For example, suppose you have two title loans on the same vehicle and could not pay them back. In this situation, selling the car would not cover the loans. The lender(s) would lose money in this scenario. As a result, no lender is willing to give you a second title loan.
If you’re looking for other ways to save money, download the
Jerry
app to make sure you aren’t overpaying for car insurance
.As a licensed broker, Jerry does the hard work of finding cheap quotes from name-brand insurance companies and helping you find the right policy. Jerry will even help you cancel your old policy.
And to ensure you always have the lowest rate, Jerry will send you new quotes every time your policy comes up for renewal so you’re always getting the coverage you want at the best price.
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
Car Repair Resources
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