Glossary of Auto Title Loan Terms

• Auto Title Loan
  An auto title loan, or car title loan, is a cash loan given in an amount based on the wholesale value of the vehicle.
  

• Pay Day Advance Loan
  A pay day loan, or cash advance loan, is a loan given based on previous payroll and employment records.
  

• Pawn Shop Loan
  A pawn shop loan is a loan given based on collateral that is given up to the pawn shop.
  

• Credit Rating
  A credit rating tells a lender or investor the probability of the subject being able to pay back a loan.
  

• Title
  A vehicle title (also known as a car title) is a legal form, establishing a person or business as the legal owner of a vehicle.