A title loan is a type of short-term borrowing where an individual uses their vehicle's title as collateral for a cash advance. The lender will provide the borrower with a sum of money, usually based on the value of the car and its condition, while retaining the title until the loan is repaid in full plus interest. This type of loan is often used by people who need quick access to funds for emergencies or unexpected expenses, but it can also be risky if not managed properly as the borrower could lose their vehicle if they are unable to make the payments on time.