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What is a pink slip loan?

“Pink slip loan” is a balloon term used to describe car title loans and automobile title loans. Pink slip is synonymous with “vehicle title” and therefore a pink slip loan is the same thing as a title loan. The term is sometimes preferred, as it better describes the conditions of the loan, where the lender obtains the pink slip for a vehicle in exchange for lending a percentage of the vehicle’s equity to a borrower. Although the lender technically owns the vehicle during the loan period, the borrower is allowed to maintain use of the vehicle while loaning. After the loan has been repaid, the pink slip is returned to the borrower, its original owner. Sound simple? It is! Don’t wait any longer. Fill out our online application, on the left, today to get started.

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