A car-title loan is a short-term cash loan, secured by the borrower’s title to a vehicle. State laws determine whether car-title loans are authorized, the terms of the loans, and consumer protections for the loan or repossession of the vehicle if a borrower cannot repay in full when the loan is due.

CFA categorizes the legal status of car-title lending, depending on whether this loan product is specifically authorized, whether title lending operates through legal loopholes, or are effectively prohibited.

UPDATE: click here to view the 2016 report