Title Loan

A short-term loan in which you use the title to your car or whatever as collateral. If you can't pay the loan, the repo man comes and takes the car away.

Title loans are fast and easy. If you own your car outright and it's worth $15k or so (you have no debt on it) then getting a quick 3 grand, pledging it as collateral is easy (but the people who grant those loans will perceive you as being a high-risk borrower, so the interest rates will be...high).

Bottom line: if you don't absolutely need one of these, don't get one.