The Pew report states that of the more than 2 million consumers who obtain title loans, one out of nine consumers default on their loans, and notes that repossession affects approximately 5 to 9 percent of borrowers who default.
According to a Pew study, over two million consumers take out title loans, with one in nine failing to repay their loans. The report also states that repossession impacts about 5 to 9% of borrowers who default on their loans.