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A pink slip is a slang term for a vehicle title, which is a legal document that establishes ownership of a vehicle, and it contains specific information about the car, such as the vehicle’s Unlike personal loans, instant approval title loans do not require a traditional credit check, meaning you can still qualify even with a credit score of 550 or less. Apply for instant cash loans The title to the vehicle is given to the lender and is held until the loan is repaid. Search for: Quick Links. September 27, 2024 Auto Title Loan companies typically do not have pre-payment penalties, but we cannot guarantee that every lender meets this standard. Came back a week later and picked it up. Apply for a Title Loan Online Unfortunately, this is what could happen if you neglect to make your car title loan payments. 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