Virginia Title Loans

Fast Title Lenders is a licensed Title Lender by the state of Virginia, license VTL-56.  We follow all VA laws and regulations.  Title Loans are regulated at the state level and there are significant differences between VA title loans and other states.  Some have 30 day loans, different interest rate caps, higher or lower maximum loan amounts, and various other differences.

What are VA Title Loans?

The State Corporation Commission (SCC), Bureau of Financial Institutions (BFI), regulates title lenders in Virginia.  They publish a list of licensed lenders on their website, and maintain the Borrowers Rights and Responsibilities pamphlet.  Virginia title loans are monthly term loans with a fixed APR.  They have equal monthly installments of both principal and interest, similar to other monthly term loans (car loans, mortgages, etc.).  The loan term is a minimum of 4 months and a maximum of 12 months.  Lenders can charge a maximum between 15% to 22% per month, depending on the loan amount.  To see what we charge, use our calculator

How do I get a Title Loan in VA?

The first thing you need to do to get a title loan in VA is make sure you meet the requirements.  You must be 18 years of age, have a lien free vehicle title, valid government ID, and meet the VA specific requirements here.  When you meet the requirements, the next step is to find a lender.  This process can be difficult in VA.  Lenders are not permitted to provide full applications online, so to get approved for a loan you need to visit the lender.  You can, however, call lenders and ask as many questions as you want.  We suggest doing a bit of research and finding a lender that meets your needs. 

Can I Re-finance my VA Title Loan?

We get calls frequently asking to refinance a loan; unfortunately it is not legal in VA to refinance a title loan.  Our recommendation is to make sure you can afford the rate and payment before you get the loan;  once you sing the loan agreement you will need to pay the loan in full.  You do, however, have one business day in VA to cancel a title loan by returning the funds the same or next day.   

How much can I borrow in VA?

The maximum amount you can borrow with a title loan in VA is 50% of the fair market value of the vehicle.  The is no pre-set maximum like there is in some other states.  Some lenders do require proof of income to support the monthly payment, some do not.  Be sure to check with your lender to make sure you bring the required documentation.