How To Avoid Title Loan Repossession

Jul 30, 2021
Title Loans

While nobody wants to consider defaulting on their title loan, not making a payment is a genuine possibility. Potentially, it could result in the repossession of your vehicle. In these still troubling times, there are several reasons people may fall behind on their payments. Understanding title loans and repossession laws are critical to weighing your options and settling on a solution. Rapid Auto Loans is here to explain everything you need to know to avoid title loan repossession.

Title Loan Repossession Basics

Title loans are a good option for people finding themselves in need of money quickly. Often, people who take out title loans cannot secure a personal loan from a bank or other financial institution. For many, title loans work well when they find themselves short on money but expect to receive funds in a timely manner. When applying for a title loan, you place your vehicle as collateral, allowing you to borrow up to its total value. No matter the reason you need a title loan, it's critical never to borrow more than you can pay back. Defaulting on the loan may result in the repossession of your vehicle.

Avoiding Title Loan Repossession

Not making your title loan payment on time violates the legal terms of your agreement with the lender. Not only does defaulting mean possibly losing your vehicle, but it will also negatively affect your credit. In the case you find yourself facing repossession, you should:

Make Timely Payments

It may seem obvious but making your payments on time is the best way to avoid repossession. Financial challenges happen, but you should make sure that you have the funds available. One effective way to do this is to set up automatic payments with your bank. Avoiding frivolous spending during your loan term is also valuable. Prioritizing paying back the lender is critical to keeping your vehicle.

Negotiate With Your Lender

Often, your creditor will be willing to work with you on your payment. One way to help avoid repayment is to offer them what you can afford at that time. Lenders want their money, which allows them to get something if you are unable to make further payments. Your creditor may also offer you options for lowering your interest rate or even lower payments.

Refinance Your Loan

While not an ideal option, refinancing your title loan may save your vehicle from repossession. Your lender will often extend the terms of your loan. Another possibility is to find an additional creditor to extend your credit. On the upside, you will be able to make your initial payment. The major downside is that you will now be responsible for additional charges and payments.

Filing For Bankruptcy

If you find yourself completely unable to make your title loan payment, you may want to consider filing for bankruptcy. While not ideal, this will at least temporarily prevent repossession. Bankruptcy also stops collection actions on the balance due, debt lawsuits, and wage garnishments. Whether you file for Chapter 7 or Chapter 13 bankruptcy, there will be provisions for payment on your title loan.

Title Loans and Repossessions At Rapid Auto Loans

At Rapid Auto Loans, we understand that hardships happen. Since 2009, we have been helping clients throughout Florida secure auto title loans in as little as 30 minutes! The last measure we want to take for those who cannot make a payment is repossessing their vehicle! Rapid Auto Loans offers our clients a 10-day grace period if they cannot make their payment on time. If you cannot make the payment after that, we want to collaborate with you to find a solution that works! If you have any questions about title loan repossessions or would like to apply for a car title loan, call us at (954)-678-5781 or apply online today!


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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.