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Can I Get My Vehicle Out of Pawn With a Title Loan? – Kelly

“Dear Steve,

Currently have a title pawn for $5000. I know these are stupid, but desperate people do desperate things sometimes. the monthly payment I have to pay is $500 which is the interest. more if I want to bring down the principle balance.

Are there any legitimate companies out there that will assist with a title loan payoff. Meaning, if I already have my vehicle’s title pawned, do you know of anyone that will buy it off and offer a lower interest rate.

Thank you.


Dear Kelly,

Hopefully you have now learned that when you pawn an item or get a title loan it ends up costing you a lot more in the long run and people do lose their pawned items and title loan collateral to the lenders.

They are not as innocent as many think and I do realize that they are often options of last resort so don’t think I’m judging you in any way.

Hopefully your credit score is above 680. If you don’t know, you can check if for free at

If your credit score is below 680 then the odds of you finding a reasonable lender are somewhere between slim to none.

If your credit score is above 680 then I would suggest Lending Club for an unsecured debt consolidation loan. Visit for more information about them.

money down the drainIf you decide to go that route and are approved, please come back and let me know what your Lending Club loan number is and I’ll help invest in it. is my preferred lender for unsecured debt consolidation loans and they have funded a lot of them. They are a legitimate lender and a real source of funds.

Rather than borrowing from some big corporation, people like you and me help fund the requests of others in need and everyone wins.

Otherwise you might want to talk to a local bankruptcy attorney if you have other debt as well. A chapter 7 bankruptcy can help you to eliminate your other obligations in about 90 days and assist you to get your vehicle back.

Typically the pawnbroker has to sell the pawned item about half the time to recover their money. And the pawn deal is setup so the pawnbroker can make a profit, not be the social service lender in your neighborhood.

Please post your responses and follow-up messages to me on this in the comments section below and let me know what you decide to do.

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About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
  • kelstephe

    And just so you know the only debt we/I have is mortgages and these stupid pawns. Everything secured so I guess there is no light at the end of the tunnel. Actually there is a school loan that is in deferrment at this time so I’m not even considering that. It’s just hard to pay bills on a family of four on less than $45000 in this day and age with med bills, utility, food and other misc .and with doom pending with the government new taxes looming,there is no out. Just despair for us hard working, underpaid, citizens

    • Steve Rhode

      I hear what you are saying. It is very tough. Have you checked to see if you might be eligible for any benefits to help soften lessen the burden? Go to to see what you might be eligible for.

      Is this a federal student or a private student loan?

      • kelstephe

        Its a federal. And relying on the government is the absolute last thing I want to do. The loans are my husband’s and it only totals around 9000. Do you know of a money tree? All I need is about 10,000 and I will be good…..

  • kelstephe

    Yeah . Well I guess my credit score is too low even tho its just a bunch of numbers based on a bad situation and not on the person. Sucks that everything revolves around a dam credit score. Bankruptcy here I come. And secured loans like a pawn as far as I know aren’t included so I guess screwed i am all around.

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