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How much do you get for a car title loan?

How much can you borrow on a car title loan? I’m behind on my bills and I don’t think I can make my rent. I heard car title loans are an easy way to get cash fast.

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Phoebe Mah · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Yes, it is true that title loans are often a quick way to get extra cash. However, how much you will get for a car title loan will depend on the value of your vehicle.
Usually, lenders will give between 25% to 50% of the value of a car. On average, $100 to $5,500 are given to borrowers. But if you need more money than this, some lenders can give up to $10,000 or more.
The caveat with car
title
loans is that you will need to have sole ownership of the vehicle and pay back the borrowed amount within 15 to 30 days. Title loans typically carry high-interest rates as well. If you fail to pay back the loan within the given time frame, the lender can repossess your car.
Because of this, car title loans are very risky and are often considered predatory. Many states have also made title loans illegal. A safer option is to apply for a personal loan through a bank or credit union.
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