man signing a vehicle title loan agreement

Vehicle Title Loan Definitions And Terms To Know

Are you interested in vehicle title loans? If so, knowing the terms and definitions associated with this type of loan will greatly improve your understanding of this form of borrowing. The following terms and definitions will both help you determine if you can apply as well as prepare you for the title loan application process.

Here Are The Vehicle Title Loan Definitions You Need To Know

Vehicle Title Loan Terms

There are several terms to familiarize yourself with when it comes to applying for a title loan. These terms will help clarify the type of loan it is, what it entails, and what is required by an applicant. Below is a list of the terms to be discussed in greater depth:

  • Title Loan
  • Licensed Vendor
  • Lien-free Vehicle Title
  • Collateral
  • Valid Identification
  • Vehicle Inspection
  • Qualified Loan Amount

Title Loan

A title loan is a small, short-term loan. You may hear title loans also referred to as title pawns, as you will temporarily hand over your vehicle title for the duration of the loan. With some lenders, you can even get a title loan online.

Licensed Vendor

A licensed vendor is a qualified, reputable business licensed through and recognized by the state for conducting professional services within acceptable standards. What this means is that they abide by state laws when conducting business. They are also knowledgeable in their field and recognized for consumer-oriented practices.

vehicle title loan lender

Lien-Free Vehicle Title

A vehicle title is an official document proving your ownership of that vehicle. When you buy a vehicle, the title will provide you and others with the following information:

  • Owner’s name and address
  • License plate number
  • Make
  • Model
  • Year
  • VIN number
  • Lien-holder information or proof of vehicle being lien-free.

For a vehicle to be classified as lien-free, this means that the ownership of the vehicle belongs solely to you. To be considered solely in your possession, the vehicle must not have any outstanding payments or judgments against it. As such, no third-party entity has the right to claim the vehicle.


Collateral is property or assets used to secure a loan. In the case of a vehicle title loan, the vehicle is pledged as collateral, ensuring lenders that you have every intention to repay the loan.

Valid Identification

Valid identification is acceptable documentation that shows lenders you are who you say you are. It also provides necessary information such as your address and whether you are of an eligible age to apply. Valid forms of identification will vary from one facility to the next. With that said, state-issued and government-issued photo identification are the most widely accepted forms of I.D.

Vehicle Inspection

A vehicle inspection is a visual procedure performed by a professional inspector for multiple purposes. A vehicle inspection is performed to determine the overall condition of a vehicle, whether or not it meets safety standards for road use, and whether it adheres to state vehicle regulations. Everything from your tires, brakes, steering, and more will be visually inspected.

vehicle title loan inspection

Qualified Loan Amount

For a vehicle title loan, a qualified loan amount is a monetary amount you are entitled to based on the findings of the above-mentioned vehicle inspection. Things such as the physical condition, existing damages, vehicle modifications, mileage, and the like will affect how much you are qualified for.

Why It Is Important To Know These Terms

When you apply for a vehicle title loan, you'll find that you will come across all the terms mentioned above. With a better understanding of these terms and what they mean, you can engage in the application process and won't be blindsided by jargon.

Looking For A Vehicle Title Loan In Louisiana?

Looking for a reputable licensed vendor to obtain a title loan in Louisiana? Cash Cow happens to be such a title loan provider. With us, you will get excellent customer service from an experienced loan representative. A representative will walk you through the title loan application process and ensure that all of your questions are answered. All you need to apply is:

  • Driver's license or state-issued I.D.
  • A lien-free vehicle title
  • The vehicle for inspection

Cash Cow makes it easy for you to get started on your application. Simply call their nearest store location or submit an online request form to have a representative contact you within minutes.

The representative will confirm your information and that you have the required documents to apply. They will then direct you to come to the store where your vehicle will be inspected, and your qualified loan amount determined. You can get anywhere from $300 to $1,400!

vehicle title loan cash

Get Started Today

If you are in need of quick cash, Cash Cow can get you your money by the following business day. In some cases, you can even get it the same day as you apply! Submit an online request form and get started on your Louisiana title loan application today.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Louis Tully

Louis Tully is a full-time finance writer offering financial expertise to everyday consumers. He understands the core values of finance and used his writing talents to share his own experiences with money to his readers. His articles teach how financial failures can easily become successes by making new habits and creating realistic goals.