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Do banks offer car title loans?

Can I go to my bank for a car title loan, or do I have to get one from an independent lender? It seems like it would be easiest to get one from my bank since I already use them to handle all my finances.

Liz Jenson · Updated on Nov 8, 2021

Reviewed by Shannon Martin, Licensed Insurance Agent.

Great question! In short, yes, many banks offer car title loans. Even banks that don’t offer title loans will likely have other short-term loans with similar terms available.

Since title loans are notorious for high

APRs

and short repayment periods, ask your bank about your other options before settling for a title loan. Other than the finances, car title loans are granted against your car. If you fail to pay, it may get repossessed.

If you decide to take out a title loan, make sure to read the terms thoroughly and consider your other options.

For help making your monthly payments, start saving on car insurance with the

app. A licensed broker, Jerry helps *users save an average of nearly $900 a year on car insurance. Simply sign up, and Jerry will send you personalized quotes from over 50 top providers in minutes.

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