The loan can revolve each month as long as you need it to, as long as you keep paying the monthly interest. The longer you take to pay off the loan, the more the title lender makes off of the loan. If you don't make the monthly interest payment, the lender will repossess your car and sell it. You won't see any profits made from the sale of your car-anything above the amount you owe on your loan goes to the lender. State's Laws All states have widely differing laws on title loans.
Some states legalize title loans.
Other states may not specifically legalize title loans, but let title lenders fit under the state's pawn shop regulation, which allows high interest rates. Other states place title loans under the state's usury laws, which require a lower interest rate. Contact the consumer affairs office in your state to complain. There is the possibility that it will intervene on your behalf, depending on your state's laws. Contact an attorney in your state for assistance-many Legal Aid or Legal Services offices are working on cases involving title loans.