A title loan is a type of secured loan where borrowers use their vehicle's title as collateral. This means that the lender holds the title until the loan is repaid. Title loans are often used by individuals who need quick cash and may not qualify for traditional loans due to poor credit. The amount you can borrow typically depends on the vehicle's value. Borrowers must repay the loan, usually within a short period, along with interest and fees. If the loan is not repaid, the lender has the right to repossess the vehicle, which can lead to loss of transportation.