Title loans — also called auto title loans or car title loans — let you borrow against the equity in your vehicle. Here’s how the process works with Pacific Finance Company.
1. Apply
Start with a short online application or call us. You’ll share basic information about yourself and your vehicle: make, model, year, and mileage.
2. Vehicle evaluation
We look at your vehicle’s condition, market value, and mileage to help determine how much you may borrow.
3. Approval and terms
If approved, we review the loan amount, rate, payment schedule, and all fees with you before you sign.
4. Lien on the title
You keep driving your vehicle. We hold a lien on the title as collateral until the loan is paid in full.
5. Funding
After signing, funds are typically available as soon as the next business day — sometimes the same day, though that isn’t guaranteed.
6. Repayment
You make scheduled payments of principal and interest until the loan is paid off, and then the lien is released.
Know the risks
If you don’t repay as agreed, the lender can repossess the vehicle. Make sure the payments fit your budget before you borrow.