Getting A Car Title Loan vs. Pawning My Car

Mar 10, 2022
Title Loans

If you're in need of some quick cash, you might be considering getting a car title loan or pawning your car. Learn more about the different ways of getting a car title loan, what to do if you can't pay off your car title loan, and how pawning your car works.


How a Car Title Loan Works

A car title loan is a short-term loan that is typically paid back over a shorter term, such as 12 months. You have your vehicle as collateral for the loan, so if you fail to repay the loan in time, your car will be seized and sold to pay off the debt. But it's important to note that you can only get a car title loan if you own a car and have a clear title to it--meaning there aren't any liens against the vehicle.


Pros and Cons of Getting a Car Title Loan

car title loan is an option for those who need quick cash. You won't need to prove income or meet certain credit score restrictions. While this is a seemingly easy solution, there are some downsides that you need to be aware of before making this decision. For one, if you can't pay off the loan in the allotted time frame, the lender will take away your car and sell it to cover the cost of what you owe.


What to Do if You Can't Pay Off Your Car Title Loan

There are a few things that you can do if you can't pay off your car title loan. Before you decide to take any action, ask yourself why you didn't pay the loan. Was there an unexpected expense? Did your hours get cut at work? Is your income too high for this type of loan? If the problem is temporary, then try to come up with a way to make extra payments on the loan. The lender might work with you before they start taking steps to repossess your vehicle.


How Pawning Your Car Works

Pawning your car is a simple process. In order to pawn your car, you would need to contact a local pawn shop and set up an appointment. Once you get there, you'll need to fill out some paperwork and provide documentation of who owns the car and proof of insurance. You will also need to take your driver's license and proof of ownership (typically, this is a title or registration).


The Many Cons of Pawning Your Car

Many local pawn shops will pawn a car, and many will not. Pawning your car is an option if you don't really need it for transportation right now, as you won't get to drive the car while it is pawned as collateral. The downside? You lose ownership of the car. If you want to keep driving it, you'll have to pay back the loan and buy the car back from the pawnshop. Something you don't have to worry about when you get a car title loan from Rapid Auto Loans.


Get Started with a Florida Auto Title Loan

It is important to consider the pros and cons of getting a car title loan or pawning your car when you are in need of some quick cash. A car title loan is a great way to access quick money when you are in need.

At Rapid Auto Loans, we offer car title loans throughout the state of Florida. Find out more about our car title loans and the process of applying by visiting our website. If you have any questions, please contact us at 954-960-7097.



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Life happens. Bills pile up and your car is on the brink. You could use some extra cash today, but the bank won't loan you because credit checks say you're a risky bet. Where do you turn for a quick personal loan? A car title loan offers fast cash for those with a vehicle as collateral. No credit check is necessary, and funds can be obtained in as little as one day.

apply for title loans online

At Rapid Auto Loans, we offer title loans online to those looking for ways to get emergency cash when they need it most. Unlike a payday loan, this loan uses the vehicle’s value as an exchange for funds. We never look at your income or credit score to provide these loans. Ultimately, the amount of money you can borrow with title loans online will depend on the value of your vehicle. The average loan from Rapid Auto is $2,000.

Rapid Auto Loans is a consumer finance company licensed under Florida 516. The term title loan is used for marketing purposes only.
All loans have a repayment period of 12 months and there is no minimum prepayment penalty. Interest Rates are determined and approved by the State of Florida based on the borrowed amount and the maximum APR (which includes interest rate plus fees and other costs for a year) is 30%. You pay interest only for the time your loan is outstanding. Below is a representative example of the total cost of the loan, including all applicable fees:



Government Fee


Credit investigative Fee


Documentary Stamp Tax


Total amount Financed


Original Loan Date




Monthly Payment (x12)

Rapid Auto uses “Auto Title Loans” for advertisement purposes only and provides auto equity loans. The lenders are licensed under the “Florida Consumer Finance Act” under Florida Statute 516 and as such lenders loans is exempt from any licensing requirements under the “Florida Title Loan Act” to the extent that any of lenders activities involve the making of a loan of money to a consumer secured by bailment of a certificate of title to a motor vehicle.