There are several means by which one can take a loan. A car title loan is one of them. This is a widely familiar process by which the loan is taken in exchange of the car’s title.
This is possible as anyone who has a title of a car has full ownership of that car. The owner is then allowed to use the title as collateral for their loans. This means that the owner has handed his or her car ownership to the lending company.
This situation will not be a cause for alarm if done with credible and reliable companies. Even if you have taken out a car title loan, you will still have it with you and you can still drive it as if it is still your car. Take note, though, that this is only possible if you are regularly paying your dues. If not, the company may take possession of your car.