Fast Title Lenders > Title Loan FAQs > What are Title Loan Maximums?

What are Title Loan Maximums?

Frequently-Asked-Questions

A common question when considering a car title loan is “how much can I borrow?”. In fact, one of the main reasons for choosing a title loan over a payday loan is the ability to borrow more. The question is, how much more?

Unfortunately there is no simple single answer to this question. There are multiple dependencies that will affect the maximum title loan amount. These include:

  1. Vehicle value – the vehicle value is a key factor for any title loan. This is true for cars, trucks, motorcycles, and any other vehicle used to get an auto title loan.
  2. Lender – different lenders have different policies. Some lenders set an arbitrary maximum loan amount that is not tied to vehicle value or state regulation. Other lenders do not.
  3. State limits – Each state treats title loans differently. In general, title loans are limited to 50% of the vehicle’s fair market value. Some states have other limits including an actual dollar figure.
  4. Title Pawns – a title pawn is often used interchangeably with title loan. Title pawns, however, are often for a very short period of time and as a result have lower maximum loan amounts than a title loan with monthly installments.

Regardless of which state and which lender you happen to choose, the value of the vehicle will likely play a role in the title loan amount. If you have not checked your vehicle’s value now may be a good time to do so.

Vehicle Value

Typically, title loan limits are 50% of the vehicle value. This means if you have a vehicle worth $10,000, then the max loan amount would be $5,000, assuming that amount is permitted in the specific state; and you have the ability to repay the loan.

Lender

Every lender has the ability to cap the amount they will lend. This is not always the case, but many lenders do have maximums. These range anywhere from $2,000 to $50,000. Additionally, some title loan companies have no pre-set limit. Fast Title Lenders agrees with no pre-set limit and prefers the max loan amount be based on both vehicle value and ability to repay the loan.

State Limits

Title loans are regulated at the state level. Some states cap title loan amounts, others do not. For those that do, then the limit would need to be enforced. This make getting a title loan in Orlando very different from a title loan in Texas.