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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Content reviewed quarterly
Title Loans in Utah
Utah permits title lending without caps on interest rates or loan amounts. Learn about Utah title loan laws, requirements, and how to find a legitimate lender.
Find Utah LendersTitle Loans Legal
Yes
Regulated By
Utah
Max Loan Amount
No statutory cap
Max Interest Rate
No cap
Cooling-Off Period
None
License Required
Yes
Title Loans in Utah: What You Need to Know
Utah permits title lending without caps on interest rates or loan amounts. The Department of Financial Institutions oversees lender licensing. Due to the lack of restrictions, Utah borrowers should carefully compare offers and understand all costs.
How Title Loans Work in Utah
Utah title loans use your vehicle title as collateral. You keep driving while the lender holds your title. Loan amounts are typically based on 25-50% of your vehicle's value, and terms are determined by the lender.
Utah Title Loan Regulations
The Utah Department of Financial Institutions regulates title lending. While lenders must be licensed, Utah has few restrictions on interest rates or loan terms.
- Lenders must be licensed with the Utah Department of Financial Institutions
- Maximum loan amount: No statutory cap
- Maximum interest rate: No cap
- Cooling-off period: None
Typical Terms in Utah
While terms vary by lender, here's what you can typically expect:
- Loan amounts: $100 to $10,000+ depending on vehicle value
- APR1: Often 150% to 300% or higher
- Loan terms: Usually 30 days to 12 months
- Loan-to-value: Typically 25% to 50% of vehicle value
Utah Requirements
- Be at least 18 years old
- Have a valid Utah driver's license or ID
- Own a vehicle with a clear Utah title
- Provide proof of income
- Have proof of Utah residency
- Provide vehicle registration and insurance
Regulatory Authority
Utah title loans are regulated by the Utah Department of Financial Institutions.
Visit Utah Website →To verify a lender is licensed, search their database or call (801) 538-8830.
Important Warning for Utah Borrowers
Before taking out a title loan in Utah:
- • Utah has no caps on title loan interest rates
- • APRs can be very high compared to traditional loans
- • Compare offers from multiple lenders
- • Consider alternatives before borrowing
- • Vehicle repossession is possible if you default
Title Loans in Major Utah Cities
TitleHarbor connects you with licensed title loan lenders throughout Utah. Find detailed information about title loans in your city below.
Title Loans in Salt Lake City, Utah
Population: 200,000+|Metro: 1.2 million
State capital with tech, finance, and outdoor recreation. Host of the 2002 Winter Olympics.
Why Salt Lake City Residents Choose TitleHarbor
- Fast funding2 available in Salt Lake City
- Licensed lenders serving Salt Lake City residents
- Keep driving your car while repaying
Title Loans in West Valley City, Utah
Population: 140,000+
Retail and distribution hub. Second-largest city in Utah.
Why West Valley City Residents Choose TitleHarbor
- Fast funding2 available in West Valley City
- Licensed lenders serving West Valley City residents
- Keep driving your car while repaying
Title Loans in Provo, Utah
Population: 115,000+
University town with growing tech scene. Home to Brigham Young University.
Why Provo Residents Choose TitleHarbor
- Fast funding2 available in Provo
- Licensed lenders serving Provo residents
- Keep driving your car while repaying
Title Loans in West Jordan, Utah
Population: 115,000+
Growing residential and commercial center. Fourth-largest city in Utah.
Why West Jordan Residents Choose TitleHarbor
- Fast funding2 available in West Jordan
- Licensed lenders serving West Jordan residents
- Keep driving your car while repaying
All Utah Cities We Serve
Our network of licensed lenders serves borrowers throughout Utah, including:
Salt Lake CityWest Valley CityProvoWest JordanOremSandySt. GeorgeOgdenLaytonTaylorsville+ All other Utah cities
Frequently Asked Questions About Title Loans in Utah
Get answers to common questions about getting a title loan in Salt Lake City and other Utah cities.
How quickly can I get a title loan in Salt Lake City?
Most borrowers in Salt Lake City 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 Salt Lake City who specialize in fast title loans and same day funding.
Are there title loan locations near me in Salt Lake City?
Yes, TitleHarbor works with multiple licensed title loan lenders throughout Salt Lake City 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 Salt Lake City?
In Salt Lake City, 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 Salt Lake City provide free vehicle appraisals to determine exactly how much you can borrow.
Can I get a title loan with bad credit in Salt Lake City?
Absolutely. Bad credit title loans are available throughout Salt Lake City 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 Salt Lake City?
To get a title loan in Salt Lake City, 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 Utah Title Loan Borrowers
Verify License
Ensure your lender is licensed with the Utah Department of Financial Institutions.
Compare Costs
Without rate limits, costs vary significantly. Get quotes from multiple lenders.
Read Everything
Review all loan documents carefully, including penalty and repossession terms.
Plan Repayment
Have a clear strategy to repay the loan on time to avoid extra costs.
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 Utah Lenders
Connect with licensed title loan lenders operating legally in Utah.
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