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 Ohio
Ohio significantly reformed title lending in 2018 with the Short-Term Loan Act, which caps APR at 28%. Learn about Ohio title loan laws, requirements, and how to find a legitimate lender.
Find Ohio LendersTitle Loans Legal
Yes
Regulated By
Ohio
Max Loan Amount
No statutory cap
Max Interest Rate
28% APR cap (Short-Term Loan Act)
Cooling-Off Period
None
License Required
Yes (STLA license)
Title Loans in Ohio: What You Need to Know
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
Ohio Requirements
- Be at least 18 years old
- Have a valid Ohio driver's license or ID
- Own a vehicle with a clear Ohio title
- Provide proof of income
- Have proof of Ohio residency
- Provide vehicle registration and insurance
Regulatory Authority
Ohio title loans are regulated by the Ohio Department of Commerce.
Visit Ohio Website →To verify a lender is licensed, search their database or call (614) 728-8400.
Important Information for Ohio Borrowers
Before taking out a title loan in Ohio:
- • Ohio caps title loan APR at 28% - one of the lowest in the nation
- • Lenders must be licensed under the Short-Term Loan Act
- • Minimum loan term is 91 days to prevent debt traps
- • Still ensure you can afford payments before borrowing
- • Non-payment can still result in vehicle repossession
Title Loans in Major Ohio Cities
TitleHarbor connects you with licensed title loan lenders throughout Ohio. Find detailed information about title loans in your city below.
Title Loans in Columbus, Ohio
Population: 900,000+|Metro: 2.1 million
State capital with education, healthcare, and tech. Largest city in Ohio and 14th largest in the US.
Why Columbus Residents Choose TitleHarbor
- Fast funding2 available in Columbus
- Licensed lenders serving Columbus residents
- Keep driving your car while repaying
Title Loans in Cleveland, Ohio
Population: 370,000+|Metro: 2 million
Healthcare (Cleveland Clinic) and manufacturing. Home to the Rock and Roll Hall of Fame.
Why Cleveland Residents Choose TitleHarbor
- Fast funding2 available in Cleveland
- Licensed lenders serving Cleveland residents
- Keep driving your car while repaying
Title Loans in Cincinnati, Ohio
Population: 310,000+|Metro: 2.2 million
Fortune 500 companies and healthcare. Home to Procter & Gamble and Kroger headquarters.
Why Cincinnati Residents Choose TitleHarbor
- Fast funding2 available in Cincinnati
- Licensed lenders serving Cincinnati residents
- Keep driving your car while repaying
Title Loans in Toledo, Ohio
Population: 270,000+
Glass manufacturing and automotive. Known as the "Glass City".
Why Toledo Residents Choose TitleHarbor
- Fast funding2 available in Toledo
- Licensed lenders serving Toledo residents
- Keep driving your car while repaying
Ohio City Title Loan Guides
Get detailed local information for these major Ohio cities:
All Ohio Cities We Serve
Our network of licensed lenders serves borrowers throughout Ohio, including:
Frequently Asked Questions About Title Loans in Ohio
Get answers to common questions about getting a title loan in Columbus and other Ohio cities.
How quickly can I get a title loan in Columbus?
Most borrowers in Columbus 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 Columbus who specialize in fast title loans and same day funding.
Are there title loan locations near me in Columbus?
Yes, TitleHarbor works with multiple licensed title loan lenders throughout Columbus 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 Columbus?
In Columbus, 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 Columbus provide free vehicle appraisals to determine exactly how much you can borrow.
Can I get a title loan with bad credit in Columbus?
Absolutely. Bad credit title loans are available throughout Columbus 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 Columbus?
To get a title loan in Columbus, 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 Ohio Title Loan Borrowers
Benefit from Protections
Ohio's 28% APR cap is excellent. Don't accept higher rates from any lender.
Verify STLA License
Lenders must have a Short-Term Loan Act license. Verify with the Department of Commerce.
Compare with Traditional Loans
With Ohio's caps, title loan rates may be similar to bank rates. Compare all options.
Report Violations
If a lender charges above 28% APR or violates the law, report them immediately.
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 Ohio Lenders
Connect with licensed title loan lenders operating legally in Ohio.
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