Use Your Car's Equity To Get A Title Loan Of Up To $20,000 In Tennessee

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What Is My Vehicle Worth In Tennessee?

How Much Cash Can I Get With A Tennessee Title Loan?

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How Title Loans Work In Tennessee And What's Required

If you're looking for quick cash in Tennessee, a title loan could be the right solution if you have limited other lending options. Unlike a personal loan, title loans use your car as collateral for a secured loan of up to $25,000. That means there's minimal focus on your FICO score when underwriting the loan, as the main qualifying factor is owning a vehicle with sufficient equity. Interest rates are high, and a licensed lender can repossess your car if you default. These types of secured loans are ideal for someone facing a financial emergency with nowhere else to turn, and most customers in Tennessee can qualify for a title loan using a vehicle valued at $3,000 or more.

To get a title loan in Tennessee, you must bring your car to the lender for an initial appraisal and vehicle inspection. You need proof of income and your pink slip to qualify. In some scenarios, you may need proof of insurance and additional documents to verify your employment history. However, the main requirement for title loans in Tennessee is your vehicle's title. The title must be in your name, and you can't have other lienholders.

Once approved for the loan, you'll give the pink slip to your lender, and they'll allow you to keep driving the vehicle as you make the monthly payments.

 

Interest Rates And Payoff Terms For Tennessee Title Loans

Compare lending offers from different companies in Tennessee to get the best interest rates. With Car Title Loans 123, we'll get you a handful of quotes from local companies so that you can find the best APR and payoff amount. A general expectation for interest rates on a title loan is around 50%, with ranges that can be higher in certain parts of Tennessee, such as Nashville and Chatanooga. Of course, that's a very high interest rate, and it can take years to repay your loan if you're only paying the minimum payments.

The repayment terms for a title loan are often up to you, and the monthly payment can be spread out over 6 to 48 months. Most lenders allow early payoffs, and it's best to work with a company that offers title loans with no pre-payment penalties.

 

How Much Can I Borrow With A Tennessee Car Title Loan?

The amount you can borrow with a title loan in Tennessee will depend on the vehicle's value. Some lenders in Nashville and Knoxville will lend up to 75% of the vehicle's resale value. Still, you can borrow around 35% to 65% of the vehicle's available equity in most cases.

Expect a funding amount of $3,000 to $25,000 for title loans on cars, SUVs, and semi-trucks in Tennessee. Those amounts are general estimates, and your loan amount depends entirely on the car's resale value and estimated monthly payments.

 

The Volunteer State Welcomes You

 

Is It Possible To Get A Title Loans In TN With Bad Credit Or A Previous Repossession?

Yes, title loans are possible with bad credit or a previous repossession. Anyone who applies for a car title loan in Tennessee should expect a brief credit check, but it won't be a big concern if you have typical credit issues. For someone who may have had a bankruptcy in the recent past, title loans may be one of the only options for borrowing money because most of what a lender looks at is the car's value. Everything else that comes up during qualifying is secondary!

 

What Are The Current Car Title Lending Laws And Regulations In Tennessee?

The Tennessee Department of Financial Institutions regulates car title loans. As of 2024, there are no limits on the APR that lenders can charge, and there's a maximum repayment term of 4 years in most circumstances. In addition, title lenders in Tennessee are not allowed to roll over your loan or extend the terms beyond 24 months.

Ensure your title loan lender is licensed and in good standing with the state. Also, check if there are any city codes or regulations that may limit the amount of cash you can borrow. For example, Clarksville has limits on short-term financing and city codes that regulate what a lender or repossession agent can do if you fall behind or default on payments.

 

How Can I Get A Title Loan That's Fast & Easy In Tennessee?

Car Title Loans 123 offers same-day approval and cash funding for fast title loans in Tennessee, and you won't be denied because of a low FICO score. Some customers can apply online, complete the vehicle inspection, and get their funds within one business day by working with a local lender.

To get started, complete the online form with Car Title Loans 123 or call 844-567-5011 to cash out equity from your car or truck!

Locations In Tennessee

*INTEREST OF 36 PERCENT PER YEAR PLUS THE CURRENT FEDERAL FUNDS RATE. TITLE LOANS HAVE ANNUAL PERCENTAGE RATES THAT START AT 3% A MONTH AND GO UP FROM THERE. APPROVAL IS BASED ON AND SUBJECT TO THE APPLICANT SATISFYING THE CREDIT REQUIREMENTS IN PLACE BY TITLE LENDERS. SOME LENDERS MAY REQUIRE APPROPRIATE COLLATERAL, SUCH AS THE VEHICLE’S PINK SLIP.


THE SPECIFIC LENDING AMOUNT, PAYOFF TERM, AND APR OF A TITLE LOAN THAT THE APPLICANT QUALIFIES FOR WILL VARY BASED ON EACH UNIQUE SITUATION. ANY PERSONAL LOAN SHOULD BE INTENDED FOR FINANCIAL EMERGENCIES OR TO MEET REAL-TIME PERSONAL OR BUSINESS NEEDS. THE MINIMUM AMOUNT OFFERED WITH A TITLE LOAN ONLINE IS CURRENTLY $2,501. ALL APPLICANTS WILL NEED TO SHOW AN ABILITY TO MAKE ON-TIME MONTHLY PAYMENTS AND ULTIMATELY PAY BACK THE LOAN. BORROWERS ARE URGED TO MAKE EXTRA OR EARLY PAYMENTS AS A WAY TO PAY OFF A TITLE LOAN EARLY AND AVOID EXTRA INTEREST RATE CHARGES. SEE CHART BELOW SHOWING EXAMPLE RATES AND PAYMENT TERMS.

Annual Percentage Rate Finance Amount Amount Financed Min Payment Monthly Payment Total Months
34.89% $1012.80 $2511.00 $143.95 $3474.80 22 minimum
34.37% $2043.05 $2520.00 $102.02 $4436.88 42 maximum

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