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Title loans let you borrow cash using your vehicle's equity as collateral. If your vehicle is fully paid off, you might qualify for same-day funds, even with a bad credit score. Your eligibility is mainly based on your income and the vehicle's value. You can keep your car while repaying the loan.
When you apply for an auto title loan in Virginia, the lender places a lien on your vehicle's title and temporarily takes ownership. In return, you receive the funds, which can be up to 50% of your vehicle’s value or up to $2,500.
As you make monthly payments, the lender gradually releases their claim on the title. Once the loan is fully paid off, the lien is removed, and you regain full ownership of your car.
Car title lending is legal in Virginia, but there are strict regulations in place to protect borrowers. These restrictions limit what car title loan lenders can do, ensuring safer borrowing practices for consumers.
Here is a table showing the specific state laws about car title loans in Virginia:
Category | Virginia Law |
Car Value Loan Limit | The Virginia title loan cannot exceed 50% of the car’s value |
Amount Loan Limit | A Virginia title loan cannot exceed $2,500 |
Interest Rate Cap | There is a 22% interest rate limit per month on the first $700 loanOn any extra loans between $701 and $1,400, there is an 18% interest rate limitOn loans above $1,400, there is a 15% interest rate limit |
Loan Term | The term of the car title loan in Virginia must be 120 days to 12 months |
Borrowers’ Rights | The borrower can pay off their car title loan early without penalty |
Lenders’ Rights | The lender can repossess the borrower’s vehicle if they fail to pay the loan |
Licensing | All car title loan lenders in Virginia must be licensed and registered |
Oversight Agency | All lenders are overseen by the Virginia Bureaus of Financial Institutions |
There are a few documents necessary to apply for a title loan in Virginia, you must have:
You might also be asked to submit pictures. Remember that you must be over 18 to apply. Applicants should have all their documents ready before applying to ensure a smoother and quicker online process.
The application process is smooth and straightforward. If you submit the application and sign the loan agreement before 2 PM in the lender's time zone, you may receive the funds on the same day.
You can fill out our online title loan request form or call (888) 557-7115. We make the process convenient for you.
Upload all of your necessary documents and paperwork online. While we review your application, we will simultaneously build a loan that is personalized to your needs.
Sign the loan agreement, and get your money within just a few hours or the next day. You can then spend the money at your discretion.
In Virginia, you can get up to $2,500 for a car title loan. The amount will depend on the value of your car. The title loan amount in Virginia cannot be higher than 50% of the car’s value.
Yes, you can get a title loan online in Virginia. The process is easy and straightforward, and you can be pre-approved in just a few minutes. You can apply online any time of the day or night.
To get a title in Virginia, you fill out the Application for Certificate of Title and Registration and turn it in at the DMV. At the DMV, you pay a fee and share information that proves you are the owner of the vehicle. For example, you could show a state-issued ID, insurance proof, and/ or a bill of sale for the vehicle.
In Virginia, auto title loans typically require a credit check. However, you can still be approved even with a poor credit score. The main factors for approval are your car's equity and your ability to repay the loan.
Get started today and get a loan of up to $50,000!