Kboy420 - Below is the relevant language in the contract

Repayment of Loan:
Borrower will pay back in the following manner: Borrower will repay in the amount in equal continuous monthly payments of $350.00 (Three Hundred Fifty Dollars) on the 10th of each month starting on July 10th, 2015 and continue without break until final payment on September 10, 2017.

If the Borrower/Employee's service is terminated by either party, the total outstanding amount of the loan will be immediately repayable. Such amount will be deducted from money's owed to the employee if necessary.

Borrower provides as collateral the Original Vehicle Title from the following vehicle and allow Lender to become lienholder:
Information on car redacted

Default:

If payments are not made on time, or in the amount agreed upon, lender has full permission of borrower to take possession of the vehicle identified above and liquidate said vehicle to fulfill any outstanding balance. Any monies above the outstanding balance will be returned to borrower.

Upon repayment of the full loan balance, lender will remove lienholder status from vehicle title and provide title to borrower


Below that is the signature of the employee and employer.

Does that help to clarify?

Thanks,
Potito