Car Title Loans in Michigan2026 Guide
Michigan does not allow title lending.
Legal Status & Regulations
Governing Law
Mich. Comp. Laws § 438.31
Last Reviewed: April 2026
Law Summary
Michigan prohibits title lending through strict usury laws (Mich. Comp. Laws § 438.31). The state does not allow vehicle titles to be used as collateral for high-interest, short-term loans. Lenders are prohibited from charging interest rates that exceed the state's cap for consumer loans, which effectively prevents the title loan industry from operating within Michigan and protects residents from predatory lending practices.
Real Rate Example in Michigan
A $1,500 loan in Michigan at a typical market rate of APR over 30 days would result in approximately $150 in interest and fees. Always compare multiple offers to find the most competitive rate.
What Documents You Need
- A clear vehicle title in your name
- A valid government-issued ID (Driver's License)
- Proof of residency (Utility bill, etc.)
- Proof of income or ability to repay
- The vehicle itself for a quick inspection
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Max Loan Amount
N/A
Max APR / Rate
N/A
Loan Term Range
Varies
Governing Body
MI Dept. of Insurance and Financial Services