An auto title loan is a loan that uses the equity in a vehicle as collateral for emergency borrowing. People often use an auto title loan when they have been denied by a bank or a payday loan office due to poor credit or proof of income.

For this reason, auto title loans are unique in the fact that they usually do not require such rigorous credit checks and background checks. And, rather than securing only a few hundred dollars, auto title loans can secure you thousands of dollars depending on how much value is in your car.

So, if you are looking for a loan and are afraid you might be turned down by traditional lenders, consider an auto title loan.

Author's Bio: 

Joel Pencer is an authority on all things personal finance and auto finance.