How Title Loans Work: A Complete Guide
Everything you need to know about title loans - from application to repayment.
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State Guide
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Title Loans in Mississippi
Mississippi regulates title loans with a maximum loan amount of $2,500 and monthly interest rate of 25%. Learn about Mississippi title loan laws, requirements, and how to find a legitimate lender.
Find Mississippi LendersTitle Loans Legal
Yes
Regulated By
Mississippi
Max Loan Amount
$2,500 max
Max Interest Rate
25% per month
Cooling-Off Period
None
License Required
Yes
Title Loans in Mississippi: What You Need to Know
Mississippi regulates title loans with a maximum loan amount of $2,500 and monthly interest rate of 25%. These regulations provide some consumer protection, but the effective APR can still be high. Borrowers should understand all terms before proceeding.
How Title Loans Work in Mississippi
Mississippi title loans are capped at $2,500 per loan. Lenders charge up to 25% monthly interest. Your vehicle title serves as collateral while you continue driving. The loan term is typically 30 days but can be renewed.
Mississippi Title Loan Regulations
The Mississippi Department of Banking and Consumer Finance regulates title lending. The state caps loans at $2,500 with a 25% monthly interest rate limit.
- Lenders must be licensed with the Mississippi Department of Banking and Consumer Finance
- Maximum loan amount: $2,500 max
- Maximum interest rate: 25% per month
- Cooling-off period: None
Typical Terms in Mississippi
While terms vary by lender, here's what you can typically expect:
- Loan amounts: Up to $2,500 maximum
- APR1: Up to 25% monthly (approximately 300% APR)
- Loan terms: Usually 30 days, renewable
- Loan-to-value: Typically 25% to 50% of vehicle value
Mississippi Requirements
- Be at least 18 years old
- Have a valid Mississippi driver's license or ID
- Own a vehicle with a clear Mississippi title
- Provide proof of income
- Have proof of Mississippi residency
- Provide vehicle registration and insurance
Regulatory Authority
Mississippi title loans are regulated by the Mississippi Department of Banking and Consumer Finance.
Visit Mississippi Website →To verify a lender is licensed, search their database or call (601) 321-6901.
Find Mississippi Lenders
Connect with licensed title loan lenders operating in Mississippi.
Get StartedImportant Warning for Mississippi Borrowers
Before taking out a title loan in Mississippi:
- • Mississippi caps loans at $2,500 with 25% monthly interest
- • The effective APR can exceed 300% annually
- • Renewals add additional interest charges
- • Only work with licensed lenders
- • Defaulting can result in vehicle repossession
Title Loans in Major Mississippi Cities
TitleHarbor connects you with licensed title loan lenders throughout Mississippi. Find detailed information about title loans in your city below.
Title Loans in Jackson, Mississippi
Population: 160,000+|Metro: 580,000
State capital with healthcare and government. Named after President Andrew Jackson.
Why Jackson Residents Choose TitleHarbor
- Fast funding2 available in Jackson
- Licensed lenders serving Jackson residents
- Keep driving your car while repaying
Title Loans in Gulfport, Mississippi
Population: 72,000+
Port city with shipping and gaming industries. Second-largest city in Mississippi.
Why Gulfport Residents Choose TitleHarbor
- Fast funding2 available in Gulfport
- Licensed lenders serving Gulfport residents
- Keep driving your car while repaying
Title Loans in Southaven, Mississippi
Population: 55,000+
Part of Memphis metro area with retail and logistics. Third-largest city in Mississippi.
Why Southaven Residents Choose TitleHarbor
- Fast funding2 available in Southaven
- Licensed lenders serving Southaven residents
- Keep driving your car while repaying
Title Loans in Biloxi, Mississippi
Population: 45,000+
Tourism and casino gaming hub. Major Gulf Coast tourist destination.
Why Biloxi Residents Choose TitleHarbor
- Fast funding2 available in Biloxi
- Licensed lenders serving Biloxi residents
- Keep driving your car while repaying
All Mississippi Cities We Serve
Our network of licensed lenders serves borrowers throughout Mississippi, including:
JacksonGulfportSouthavenBiloxiHattiesburgOlive BranchTupeloMeridianGreenvilleHorn Lake+ All other Mississippi cities
Frequently Asked Questions About Title Loans in Mississippi
Get answers to common questions about getting a title loan in Jackson and other Mississippi cities.
How quickly can I get a title loan in Jackson?
Most borrowers in Jackson can get approved for a title loan within 30 minutes of applying. Once approved, you can typically receive your funds the same day or within 24 hours. The speed depends on when you apply and how quickly you provide the required documents. TitleHarbor connects you with licensed lenders in Jackson who specialize in fast title loans and same day funding.
Are there title loan locations near me in Jackson?
Yes, TitleHarbor works with multiple licensed title loan lenders throughout Jackson and the surrounding areas. When you submit your information through our platform, we'll connect you with lenders who have convenient locations near you. Many of our partner lenders also offer mobile services where they come to you for vehicle inspection and loan finalization.
What are the average title loan amounts in Jackson?
In Jackson, title loan amounts typically range from $1,000 to $10,000, depending on your vehicle's value, condition, and equity. The average loan amount is around $2,500 to $3,000. Lenders generally offer 25% to 50% of your vehicle's current market value. TitleHarbor's partner lenders in Jackson provide free vehicle appraisals to determine exactly how much you can borrow.
Can I get a title loan with bad credit in Jackson?
Absolutely. Bad credit title loans are available throughout Jackson because lenders focus on your vehicle's value rather than your credit score. Your car serves as collateral, which means most lenders don't run traditional credit checks or base approval decisions on your credit history. TitleHarbor specializes in connecting borrowers with bad credit to understanding lenders who approve based on your ability to repay and your vehicle's equity.
What documents do I need for a title loan in Jackson?
To get a title loan in Jackson, you'll need: (1) Your vehicle title in your name showing you own the car free and clear, (2) A government-issued photo ID like a driver's license, (3) Proof of income such as pay stubs, bank statements, or benefit letters, and (4) Proof of residence like a utility bill or lease agreement. Most borrowers already have these documents on hand, which is why the approval process is so quick.
Tips for Mississippi Title Loan Borrowers
Verify License
Ensure your lender is licensed with the Mississippi Department of Banking and Consumer Finance.
Understand Monthly Costs
At 25% monthly, a $2,500 loan costs $625/month in interest alone. Plan accordingly.
Avoid Rollovers
Renewing your loan adds more interest. Try to pay off the principal as quickly as possible.
Know the Limits
No single loan can exceed $2,500 in Mississippi. Be wary of lenders offering more.
Title Loan Resources & Guides
Learn more about title loans with our comprehensive guides. Understanding your options helps you make better financial decisions.
Title Loan Requirements: What You Need to Qualify
A detailed breakdown of what you need to apply for a title loan.
Read ArticleUnderstanding Title Loan Interest Rates and APR
Learn how APR works and what rates to expect.
Read ArticleHow to Avoid Title Loan Scams
Protect yourself from predatory lenders.
Read ArticleWhat Happens If You Can't Repay Your Title Loan?
Understand your options if you face repayment difficulties.
Read ArticleAlternatives to Title Loans
Explore other options before deciding on a title loan.
Read ArticleOther State Guides
Looking for information about title loans in another state?
Find Licensed Mississippi Lenders
Connect with licensed title loan lenders operating legally in Mississippi.
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