Finder makes money from featured partners, but editorial opinions are our own. Advertiser Disclosure

Auto title loan alternatives

Compare 6 ways to get the funding you need.

Auto title loans might be fast, but the risks often outweigh the benefits. If you’re concerned about losing your car or triple-digit APRs, you might qualify for an alternative that doesn’t carry that risk. And if you’re regularly in need of extra funds, you might also want to look into long-term solutions to help build up your personal finances.

Title loan alternatives with fast turnaround

Title loans aren’t the only way to get money on the same day you apply. But beware: Fast financing is often more expensive. If you want a loan that allows you to save on interest, you might have to wait to get your funds.

Payday loans

Payday loans work a lot like single-payment title loans, where your repayment is due in full plus interest and fees within a month. The main difference is they don’t require collateral. You can often get a payday loan on the same day if you apply in a store. You can also apply for payday loans online, though you likely won’t get your funds until the next day.


  • Same-day funding
  • No risk of losing your car
  • More online options than title loans


  • Higher APRs than title loans
  • Lower loan amounts than title loans
  • Not legal in all states

Read our pay-day loans guide

Credit card cash advance

If you already have a credit card, you can also take out a cash advance as soon as you can get to an ATM. Advances tend to come with higher APRs than your typical credit card purchase, though rates are often much lower than any other short-term loan product — starting at around 25%. On top of this, you typically have to pay a cash advance fee, usually around $10 or 5% of the advanced amount.


  • Potentially faster than a title loan
  • No collateral required
  • Lower APRs


  • Need to already have a credit card
  • Cash advance fee in addition to interest
  • Lower amounts available than title loans
Read more about credit card cash advances

Compare short-term loans

1 - 0 of 0
Name Product Filter Values Loan amount Turnaround time Requirements
Tidal Lending
Tidal Lending
$100 to $30,000
As Soon As Next Business Day
Regular source of income, Verifiable bank account, US citizen, Ages 18+
Chime SpotMe overdraft
Up to $200
$200 in qualifying direct deposits into a Chime checking account in the last 34 days
OppLoans Installment Loans
$500 to $4,000
1 business day
Direct deposit, Meet minimum income requirements, Live in eligible state
Comes with the option to change your due date so you won’t fall behind on repayments.
CashNetUSA Loan
Varies by state
As fast as same business day
Regular source of income, bank account, US citizen or permanent resident, age of majority in your state
Sign up for its discount program to get access to coupons and deals on everything from dining out to tax services.
Fast5kLoans Short-term Loans Connection Service
$100 to $35,000
As soon as the next business day
Regular source of income, Verifiable bank account, US citizen, Ages 18+
Get connected with multiple lenders you might qualify with — even if you have bad credit.
LendYou Short-term Loans
$100 to $2,500
Same business day to 1 business day
$1,000+ monthly income, direct deposit, US citizen or permanent resident, ages 18+
Get offers from potential lenders in minutes by filling out just one online form.

Compare up to 4 providers

Title loan alternatives for bad credit

Have the time to wait longer for your loan? You’ll find several less expensive options that don’t put your car on the line.

Short-term loans

Payday and installment loans are short-term options available to borrowers with bad credit. Installment loans are often in larger amounts and allow you to repay what you borrow over a few months to a year. Each are a viable alternative if you have bad credit and need between $1,000 and $10,000. Neither require collateral, though both are more costly than title loans.


  • Borrow up to $10,000 with installment loans
  • Apply online or in person
  • No collateral necessary


  • More costly than a title loan
  • Risk of becoming trapped in cycle of debt
  • Illegal or highly regulated in some states

Legit short-term loans

Payday alternative loans

Some federal credit unions offer payday alternative loans — more commonly called PALs — as an affordable alternative to title and other short-term loans. The application is more involved than a title loan, however. And you’ll have to become a member to get one. PALs also don’t allow rollovers, so there’s no risk of getting caught in a cycle of debt. But that also means your loan is firmly due when it’s due.


  • APRs capped at 28%
  • No more than $20 processing fee
  • Borrow between $200 and $1,000


  • Limited to three PALs every six months
  • Must become a member to qualify
  • Not available at all credit unions

Hoe payday alternative loans work

CDFI loans

Some local banks and credit unions are registered as community development financial institutions. CDFIs are nonprofit organizations with a mission to provide financial resources to underserved communities. Some — like the South Bronx’s Spring Bank — offer affordable short-term loan alternatives designed to help improve your overall financial well-being.


  • More affordable than a title loan
  • Improve your financial health
  • Small-dollar loans available


  • Limited availability
  • Typically longer turnaround than a title loan
  • Might require collateral

Loans from friends or family

Instead of borrowing from an outside company, you also might want to rely on friends or family for help when you’re in a pinch. You might even want to draw up a loan contract if you’re not comfortable accepting the funds as a gift. Or you can try to monetize your social network by starting a crowdfunding campaign that you won’t have to pay back.


  • Room to negotiate rates and terms
  • Borrow from someone you trust
  • Collateral optional


  • Risks ruining personal relationships
  • Must have family or friends able to lend funds

4 alternatives that aren’t loans

A loan is a one-time fix that might not be the best solution if you’re frequently short on cash. If you find yourself considering short-term loans often, look into these alternatives first.

1. Take on a side gig.

You don’t necessarily need to apply for another job. Something as simple as taking online surveys or selling those photos you’d normally post on Instagram could make you the couple hundred extra dollars a month you need to cover your personal expenses.

2. Find local assistance programs.

Frequent short-term loan borrowers might qualify for government assistance programs to help cover the cost of basic expenses like food, child care or housing. Find out programs available in your area in our guide to payday loan alternatives.

3. Negotiate with your creditors.

Borrowing to cover your bills? Reach out to your creditors and explain your financial situation. Your creditor might be willing to extend a modified repayment plan, more favorable terms or reduced interest until you’re on solid financial ground.

4. Sign up for credit counseling.

Don’t know where to start? Consider working through your debt with credit counseling. You’ll meet with an adviser to come up with a plan to get your finances back on track. You can find a list of government-approved credit counseling agencies on the Department of Justice’s website.

Are title loans bad?

Not necessarily, though it depends on your financial situation. If you need money fast and don’t have good credit, it can be a cheaper alternative to payday loans.

Title loans often have a high cost per year, but they typically don’t cost more than $10 to $15 per $100 borrowed — if you’re able to pay it back on time.

It starts to add up when you roll over your loan. The more often you renew your loan, the more you’ll pay in interest and fees — and the higher the risk of becoming trapped in a cycle of debt.

More than 87% of single-payment title loan borrowers roll over their loans at least once, according to the Consumer Financial Protection Bureau. And about 20% end up losing their car.

To avoid a tough outcome, make sure you’re able to afford your repayment. If not, consider a more viable alternative.

Bottom line

Title loans involve some risk: You can find yourself caught in a cycle of debt or even lose your car. But they can help when you need money fast and don’t have the best credit. Weighing the alternatives can help you make sure you’re applying for the best option available to you.

Learn more about how these options work in our comprehensive guide to title loans.

Frequently asked questions

More guides on Finder

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site