ELI5: Explain Like I'm 5

Title loan

A title loan is a type of loan where you use your car as collateral. That means that if you don't pay the loan, the lender can take your car away. With this type of loan, you get money up front, but you'll have to pay a lot of interest, and the loan will need to be repaid within a certain amount of time. It's important to pay the loan back on time, because if you don't, the lender could take your car away from you.