Title Loans in Virginia
Virginia regulates title loans with specific consumer protections including a $2,500 loan limit, rate caps, and a one-business-day cooling-off period. Learn about Virginia title loan laws, requirements, and how to find a legitimate lender.
Find Virginia LendersTitle Loans in Virginia: What You Need to Know
Virginia regulates title loans with specific consumer protections including a $2,500 loan limit, rate caps, and a one-business-day cooling-off period. Lenders must hold a Motor Vehicle Title Loan license.
How Title Loans Work in Virginia
Virginia title loans are limited to $2,500 and have regulated interest rates. Lenders must be specifically licensed for motor vehicle title loans. Borrowers have a one-day right to rescind the loan without penalty.
Virginia Title Loan Regulations
The Virginia Bureau of Financial Institutions tightly regulates title lending. Key protections include loan caps, rate limits, and a mandatory cooling-off period.
- Lenders must be licensed with the Virginia Bureau of Financial Institutions
- Maximum loan amount: $2,500 max per loan
- Maximum interest rate: 22% per month (264% APR)
- Cooling-off period: 1 business day
Typical Terms in Virginia
While terms vary by lender, here's what you can typically expect:
- Loan amounts: Up to $2,500 maximum
- APR1: Up to 22% monthly (approximately 264% APR)
- Loan terms: Minimum 120 days
- Loan-to-value: Typically 25% to 50% of vehicle value
Virginia Requirements
- Be at least 18 years old
- Have a valid Virginia driver's license or ID
- Own a vehicle with a clear Virginia title
- Provide proof of income
- Have proof of Virginia residency
- Provide vehicle registration and insurance
Regulatory Authority
Virginia title loans are regulated by the Virginia Bureau of Financial Institutions.
Visit Virginia Website →To verify a lender is licensed, search their database or call (804) 371-9657.
Important Warning for Virginia Borrowers
Before taking out a title loan in Virginia:
- • Virginia caps loans at $2,500 with regulated rates
- • You have one business day to cancel without penalty
- • The effective APR can still be around 264%
- • Only work with licensed title loan lenders
- • Defaulting can result in vehicle repossession
Title Loans Available in Major Virginia Cities
Our network includes lenders serving all major cities and metropolitan areas in Virginia.
Tips for Virginia Title Loan Borrowers
Know Your Cooling-Off Rights
Virginia gives you one business day to cancel. If you change your mind, act quickly.
Verify License
Lenders must hold a specific Motor Vehicle Title Loan license. Verify with the Bureau of Financial Institutions.
Understand the Cap
Virginia limits loans to $2,500. Be cautious of lenders offering more.
Check Minimum Terms
Virginia requires minimum 120-day terms. This helps avoid short-term debt traps.
Other State Guides
Looking for information about title loans in another state?
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