Key takeaways
- An auto-secured loan uses your vehicle as collateral; the lender records a lien on the title.
- Regional Management Corp. names auto-secured lending as a growth focus, mostly on larger loans.
- Collateral can help you qualify for more, but default can lead to repossession under state law.
- An auto-secured installment loan is not a title loan: it has monthly payments over months or years.
How Regional Finance Auto-Secured Loans Work
With an auto-secured loan you keep driving your car. The lender adds its name to the title as a lienholder until the loan is paid in full.
Because the loan has collateral, the lender takes less risk. That can mean a larger amount than your income and credit alone would support. Regional Finance large installment loans run from $2,501 to $35,000, and some of these may require a vehicle lien.
- Vehicle review. The lender checks the year, mileage, condition and value of your car.
- Title check. The title usually must be in your name and free of other liens.
- Lien recorded. The lender is added as lienholder with your state's motor vehicle agency.
- Fixed payments. You repay in equal monthly installments, often over 18 to 60 months.
- Lien released. After the final payment, the lien is removed and you get a clear title.
Auto-Secured Installment Loan vs Car Title Loan
| Feature | Auto-secured installment loan | Typical car title loan |
|---|---|---|
| Repayment | Fixed monthly payments | Often one lump sum in about 30 days |
| Term | Months to years | Very short, often rolled over |
| Typical APR | Installment-loan range | Often far higher; the FTC warns about high costs |
| Credit reporting | Payments reported to credit bureaus | Often not reported |
| Credit check | Yes | Often minimal |
Pros and Risks of Securing a Regional Finance Loan
Potential benefits
- Access to a larger loan amount
- Possibly better terms than unsecured credit
- Fixed rate and fixed payment
- On-time payments build credit
Risks
- Repossession possible after default
- Insurance on the vehicle is usually required
- You cannot sell the car without paying off the lien
- A larger loan means more total interest
What You Need for an Auto-Secured Loan
- Vehicle title in your name, usually with no other liens
- Current registration and proof of insurance
- The vehicle for inspection, or photos if the lender allows
- Standard documents: photo ID, proof of income and proof of residence (see requirements)
Example: Secured Larger Loan Payment
An illustrative $8,000 auto-secured loan at 29.99% APR over 48 months would cost about $288.00 a month, with roughly $5,824 in total interest before fees. Try other numbers in the Regional Finance loan calculator.
Regional Finance Auto-Secured Loan FAQ
Can I keep driving my car?
Yes. With an auto-secured installment loan you keep and use your vehicle while you make payments.
What happens if I miss payments?
Late fees and credit damage come first. Prolonged default can lead to repossession under your state's rules. Call your lender early if you are struggling.
Can I sell the car before the loan is paid?
You would need to pay off the loan so the lien can be released and the title transferred.
Is every Regional Finance loan secured?
No. Smaller loans are usually unsecured. Collateral is more common on larger loans.
How do I get my title back?
After your final payment the lender releases the lien. Keep your payoff confirmation until the clear title arrives.
See If a Larger Loan Fits
Check your options with a soft credit check before deciding whether to use collateral.
Apply NowCompare with unsecured personal loans, review rates and fees, or return to the Regional Finance overview.