Q: Can I lend money to someone and ask for their car tile as collateral? Do both sign it? How do I give it back when paid?
Title loans are legal and common, but because of abuses by some unscrupulous lenders, there is a whole body of law which has developed to protect consumers from predatory lenders.
This is not a simple DIY project. You need the services of a competent attorney experienced specifically in title loans. This is probably not going to be cost effective for a single loan or small number of loans.
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