Is a Title Loan Unsecure?

March 1, 2019

When acquiring a title loan, there are two types that an inquirer may obtain. There are both secure and unsecure loans.  Knowing the difference between secure and unsecure loans is quite important, as each have very distinct differences. The biggest difference is that a secure loan requires collateral.

There are many valuable assets a person could use as collateral, and many different types of loans that require some form of collateral. Title loans require a car title be uses as collateral, so a title loan is secure.

If you would like to know more about secure and unsecure loans, then keep reading to learn more.

What is an Unsecure Loan?

An unsecure loan is “issued and supported only by the borrower’s creditworthiness, rather than by any type of collateral.” So if you acquire any type of loan without the use of collateral, then that loan is considered unsecure.

Unsecure loans can come in many different forms, such as:

  • Credit Cards
  • Student Loans
  • Personal Loans

Since there is no collateral involved with an unsecure loan, lenders must use a different method of approval.  To get approved for an unsecure loan, a lender bases eligibility on the borrower’s ability to repay the loan.

There are several factors that lenders look at in order to approve you:

  • Your Credit Score/History: To even be considered for an unsecure loan, you will first have to possess good credit. Lenders will check your credit history to see if you’ve successfully payed off other loans in the past. If you have a score of 670 or higher, then you will most likely be approved.


  • Your Income: Lenders need to know you can pay back your title loan. Each lender is different when it comes to providing proof of income. Some lenders may require a pay stub, a W-2, or your recent tax return. There are many documents you can use to provide proof of income so ask your lender what they require from you.


At MaxCash, where here to provide any financial help you may need. We post articles on a regular basis so if you need more information, visit our blog to find more informational articles.

What is a Secure Loan?

A secure loan is a loan backed by collateral. Collateral can be just about any asset, including a home loan, title loan, or even stocks. The idea behind a secure loan is that by offering up assets, such as a vehicle, borrowers can more easily obtain the emergency funds they need.

But your home and car are not the only assets that can be used as collateral.

The following can also be used to apply for a secure loan:

  • Bank accounts (checking/saving)
  • Other vehicles (trucks, SUVs, motorcycles, boats, etc.)
  • Insurance policies (life insurance)
  • High-end collectibles and other valuables

With a title loan, a lien is placed on the vehicle title. This gives the lender legal right to take ownership of your vehicle if your loan defaults or you cannot repay the loan. Due to the security of the vehicle, title loans are considered low-risk for the lender.

At MaxCash, we wish to help you in any way that we can.  That is we try and guide you through the process of getting a loan. Be it a title loan, business loan, commercial loan, or just refinancing, we are here to help.

Though, we don’t lend money directly, we have agents available who will try and match you with the best lender possible. We have partnerships with reputable lenders across the nation, and can do all of the tedious research work for you.

For any questions about MaxCash, head over to our About Us page. If you want to know more about how we operate, then checkout our FAQ.  You can also contact Max Cash directly 7 days a week by email at or by phone at (833) 207-9052.

The MaxCash website does not offer or provide loans, but rather, it offers a service. It should not be construed as a lending agent or broker. The site does not endorse any lenders and does not charge visitors any fees. The website owners do not evaluate potential lenders’ applications, nor do they approve or deny credit. The MaxCash website does gather applicants’ personal information and transmits it to lenders that are part of the site’s lending network. No one is required to make use of this website, nor are they under any obligation to begin contact with site operators or to attempt to secure a loan with any of the site’s lending partners. Transmission of your financial and personal information on the website in no way obligates lenders to offer you a loan or any other kind of credit product. Be aware that cash transfer times can vary, depending on the lender and the bank you use. It may be necessary to fax information under certain circumstances. All questions about loans, and any concerns you may have should be directed to your lender. These loans are intended as short-term financial solution to satisfy borrowers’ needs for immediate monetary relief. This is not intended to be part of a long-term financial plan for individuals. These services are not offered in all states. Potential borrows may undergo credit check if lenders choose to use any of the major credit reporting bureaus, including Equifax, Trans Union and Experian. They may also use other alternative sources to check credit ratings. Your request for a loan constitutes your agreement and acknowledgement that (A) your personal data may be shared with lenders and perhaps other third-party partners, and (B) lenders can acquire credit bureau reports that detail your credit history. Reports from major credit bureaus, such as Equifax, Experian and TransUnion may be obtained and used to evaluate your reliability as a borrower.

1Loan amounts by the lenders vary based on qualifications.

2Since we do not lend money directly we cannot offer you a solicitation for a loan. In all serviced states we WILL match you with a lender based on the information you provide on this website. We will not charge you for this service and our service is not available in all states. States that are serviced by this Web Site may change from time to time and without notice. Personal Unsecured Loans are not available in all states and all areas.

3Loans such as, Auto Title Loan companies typically do not have pre-payment penalties, but we cannot guarantee that every lender meets this standard. Small Business Loans typically do have pre-payment penalties and occasionally will use your car as collateral to secure the loan. Other types of loans may have pre-payment penalties as well.

4All lenders are responsible for their own interest rates and payment terms. Max Cash has no control over these rates or payments. Use of the work competitive or reasonable does not mean affordable and borrowers should use their own discretion when working directly with the lender.

5The amount of people who applied for a loan and we helped and those who received a loan is not the same. We cannot guarantee we will find a lender who will fund you. Just because you give us information on this web site, in no way do we guarantee you will be approved for a car title loan or any other type of loan. Not all lenders can provide loan amounts you may see on this web site because loan amounts are limited by state law and/or the lender. Some lenders may require you to use a GPS locator device on your car, active all the time, in the circumstance for an auto title loan. They may or may not pay for this or charge you for this. This is up to the lender and we have no control over this policy of the lender. Typically, larger loans or higher risk loans use a GPS.

In some circumstances faxing may be required. Use of your cell phone to receive updates is optional. Please review our privacy policy.

Loans such as Car Title Loans are expensive and you may have other ways to get funding that is less expensive. These types of loans are meant to provide you with short term financing to solve immediate cash needs and should not be considered a long-term solution. Residents of some states may not be eligible for a loan. Rejections for loans are not disclosed to our firm and you may want to contact the lender directly.

Signature and personal loans are only available in Georgia and Florida. Loan amounts differ at locations. Account approval requires satisfaction of all loan eligibility requirements, including a credit inquiry, and, if applicable, motor vehicle appraisal.

Car Title Loan lenders are usually licensed by the State in which you reside. You should consult directly with these regulatory agencies to make sure your lender is licensed and in compliance. These agencies are there to protect you and we advise making sure any lender you receive money from is fully licensed.

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