Title Loan Calculator
Title Loan Cost
Calculate the true cost of a vehicle title loan
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Formula
Loan = Vehicle Value x LTV%. Monthly Interest = Loan x Monthly Rate. APR = Monthly Rate x 12.
Frequently Asked Questions
What is a title loan?
A title loan is a short-term loan where you use your vehicle title as collateral. You keep driving your car, but the lender can repossess it if you default. Typical amounts are 25-50% of the vehicle's value.
Why are title loans so expensive?
Title loans charge monthly rates of 15-30%, which translates to annual APRs of 180-360%. They target borrowers with few alternatives and the short terms make rollovers common, compounding costs further.
What happens if I can't repay a title loan?
If you default on a title loan, the lender can repossess and sell your vehicle. Even after selling, you may still owe money if the sale doesn't cover the full loan balance plus fees.
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