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Can you get a title loan with a lien?

By MattJones

A question we often get is can you get a title loan with a lien on your current vehicle?  The answer is not black or white, in fact the answer is this:  it depends.

Watch this video or continue to read more below:


Getting a vehicle title loan with a lien on your current vehicle:

First and foremost you need to understand that in many cases auto title loans are going to be more expensive than traditional financing.  The reason this is the case is because auto title loan lenders work quickly and don’t take your credit or past credit into account as much as traditional finance companies.  So, in some cases you can get a title loan with a lien on your current car, pickup truck, or SUV.  How it works is this:  The lender who is providing an auto title loan will take your current loan and pay it off, and then that amount will go into your new loan.  So, if you owe $5,000 on your car, pickup truck, crossover, or other vehicle you will have that amount wrapped into your title loan.

Things to be aware of if you get a pink slip loan with a lien.

First, you are likely taking a lower interest loan and wrapping it into a higher interest loan.  This is because auto title loans generally have higher interest rates than traditional loans.

Secondly, companies who originate car title loans can repossess your vehicle if you do not pay.  This is just like a bank, finance company, or credit union, however some title loan companies are extremely strict with their policies on repossession.  Make sure you read and understand the terms and conditions if you get an auto title loan.

Companies who provide auto title loans are not always going to take the existing loan on your car and wrap it into a new loan.  Why?  Because they will want to see that you have enough equity in your car, truck, suv, crossover, or motorcycle to ensure that if you default on your vehicle that they will be able to still make money?

The lender is in business to make money, and if you do not make payments the lender can (and likely will) repossess your car or truck and then auction it off.  If the lender has loaned you (just as an example) $7,000 and your car is not worth at least $7,000 then the lending company stands to lose money.  This is because they will not be able to auction off your car for the money they have lent out.  Generally, auto title loan companies will only loan anywhere from 60-80% of the fair-market resale value of your car.  So, if you can sell your car for $20,000 the biggest amount you will likely be able to borrow is anywhere from $14,000 to $16,000–but this depends on several factors.

In most cases getting a title loan with a lien is not feasible, unless you only owe a small amount on your vehicle. Even then,  you will likely end up paying more in interest.

The benefits of getting a car title loan with a lien, however, is that you can get money very quickly–sometimes in as little as a few hours as long as you qualify and get the required information to the lender.  Call The Net Lender today toll free at 888-539-4209 to see how much you can get for your vehicle.  There is no cost or obligation to call.  Our staff is standing by and will not pressure you into making a quick decision.  Our staff will ask basic questions about your car including the make, mileage, model—and then ask you some personal information–such as what your monthly income is.

Call today or fill out the form on the website to learn more about getting a title loan with a lien.  If you live in or around Los Angeles call our Los Angeles phone number.  You can also call our Sacramento number or San Diego number.


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