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 Tennessee
Tennessee regulates title loans through the Title Pledge Act, which provides some consumer protections. Learn about Tennessee title loan laws, requirements, and how to find a legitimate lender.
Find Tennessee LendersTitle Loans Legal
Yes
Regulated By
Tennessee
Max Loan Amount
Up to vehicle value
Max Interest Rate
24% APR for first $600
Cooling-Off Period
None
License Required
Yes (Title Pledge license)
Title Loans in Tennessee: What You Need to Know
Tennessee regulates title loans through the Title Pledge Act, which provides some consumer protections. Title pledge lenders must be licensed and follow specific regulations regarding fees and disclosures.
How Title Loans Work in Tennessee
Tennessee title loans, called title pledges, use your vehicle as collateral. Lenders must hold a Title Pledge license. Interest rates are regulated for smaller loan amounts, with different tiers for larger loans.
Tennessee Title Loan Regulations
The Tennessee Department of Financial Institutions regulates title pledges. Lenders must hold a Title Pledge license and comply with the Title Pledge Act regulations.
- Lenders must be licensed with the Tennessee Department of Financial Institutions
- Maximum loan amount: Up to vehicle value
- Maximum interest rate: 24% APR for first $600
- Cooling-off period: None
Typical Terms in Tennessee
While terms vary by lender, here's what you can typically expect:
- Loan amounts: $100 to $5,000+ depending on vehicle value
- APR1: 24% for first $600; varies for higher amounts
- Loan terms: 30 days initial, renewable
- Loan-to-value: Typically 25% to 50% of vehicle value
Tennessee Requirements
- Be at least 18 years old
- Have a valid Tennessee driver's license or ID
- Own a vehicle with a clear Tennessee title
- Provide proof of income
- Have proof of Tennessee residency
- Provide vehicle registration and insurance
Regulatory Authority
Tennessee title loans are regulated by the Tennessee Department of Financial Institutions.
Visit Tennessee Website →To verify a lender is licensed, search their database or call (615) 741-2236.
Important Warning for Tennessee Borrowers
Before taking out a title loan in Tennessee:
- • Tennessee has tiered rate structures for title pledges
- • Rates can still be high for larger loan amounts
- • Only work with licensed Title Pledge lenders
- • Understand all fees before borrowing
- • Defaulting can result in vehicle repossession
Title Loans in Major Tennessee Cities
TitleHarbor connects you with licensed title loan lenders throughout Tennessee. Find detailed information about title loans in your city below.
Title Loans in Nashville, Tennessee
Population: 690,000+|Metro: 2 million
Music industry, healthcare, and tourism. Known as "Music City" and home to the Grand Ole Opry.
Why Nashville Residents Choose TitleHarbor
- Fast funding2 available in Nashville
- Licensed lenders serving Nashville residents
- Keep driving your car while repaying
Title Loans in Memphis, Tennessee
Population: 630,000+|Metro: 1.3 million
Logistics hub (FedEx headquarters) and healthcare. Known as the "Home of the Blues".
Why Memphis Residents Choose TitleHarbor
- Fast funding2 available in Memphis
- Licensed lenders serving Memphis residents
- Keep driving your car while repaying
Title Loans in Knoxville, Tennessee
Population: 190,000+|Metro: 870,000
University town with energy sector presence. Gateway to the Great Smoky Mountains.
Why Knoxville Residents Choose TitleHarbor
- Fast funding2 available in Knoxville
- Licensed lenders serving Knoxville residents
- Keep driving your car while repaying
Title Loans in Chattanooga, Tennessee
Population: 180,000+|Metro: 560,000
Tech hub with fastest internet in the US. Known for its gigabit fiber network.
Why Chattanooga Residents Choose TitleHarbor
- Fast funding2 available in Chattanooga
- Licensed lenders serving Chattanooga residents
- Keep driving your car while repaying
Tennessee City Title Loan Guides
Get detailed local information for these major Tennessee cities:
All Tennessee Cities We Serve
Our network of licensed lenders serves borrowers throughout Tennessee, including:
Nashville →Memphis →KnoxvilleChattanoogaClarksvilleMurfreesboroFranklinJacksonJohnson CityBartlett+ All other Tennessee cities
Frequently Asked Questions About Title Loans in Tennessee
Get answers to common questions about getting a title loan in Nashville and other Tennessee cities.
How quickly can I get a title loan in Nashville?
Most borrowers in Nashville 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 Nashville who specialize in fast title loans and same day funding.
Are there title loan locations near me in Nashville?
Yes, TitleHarbor works with multiple licensed title loan lenders throughout Nashville 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 Nashville?
In Nashville, 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 Nashville provide free vehicle appraisals to determine exactly how much you can borrow.
Can I get a title loan with bad credit in Nashville?
Absolutely. Bad credit title loans are available throughout Nashville 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 Nashville?
To get a title loan in Nashville, 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 Tennessee Title Loan Borrowers
Verify Title Pledge License
Ensure your lender holds a valid Title Pledge license with the Department of Financial Institutions.
Understand Rate Tiers
Tennessee has different rates for different loan amounts. Know which tier applies to your loan.
Review All Disclosures
Tennessee law requires specific disclosures. Review all documents carefully before signing.
Avoid Renewals
Each renewal adds costs. Try to pay off your pledge as quickly as possible.
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 Tennessee Lenders
Connect with licensed title loan lenders operating legally in Tennessee.
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