Title Loans in Ohio

Ohio significantly reformed title lending in 2018 with the Short-Term Loan Act, which caps APR at 28%. This makes Ohio one of the most consumer-friendly states for title loans. Borrowers benefit from these protections while still having access to title-secured lending.

How Title Loans Work in Ohio

Ohio title loans operate under the Short-Term Loan Act with a 28% APR cap. Lenders must be licensed and follow strict disclosure requirements. Your vehicle title serves as collateral while you continue driving and making payments.

Ohio Title Loan Regulations

The Ohio Department of Commerce regulates title lending under the Short-Term Loan Act. The 28% APR cap provides strong consumer protection, making Ohio's rates comparable to many traditional loans.

• Lenders must be licensed with the Ohio Department of Commerce
• Maximum loan amount: No statutory cap
• Maximum interest rate: 28% APR cap (Short-Term Loan Act)
• Cooling-off period: None

Typical Terms in Ohio

While terms vary by lender, here's what you can typically expect:

• Loan amounts: $500 to $25,000 depending on vehicle value
• APR¹: Maximum 28% APR under STLA
• Loan terms: 91 days to 12 months minimum
• Loan-to-value: Typically 25% to 50% of vehicle value