Car Title Loans in New York2026 Guide
Title loans are illegal in New York.
Legal Status & Regulations
Governing Law
NY Banking Law
Last Reviewed: April 2026
Law Summary
New York prohibits title lending through some of the strictest usury laws in the country (NY Banking Law). The state enforces a civil usury cap of 16% APR and a criminal usury cap of 25% APR. These limits make the high-interest title loan model illegal in the state. New York aggressively pursues unlicensed lenders attempting to offer high-cost vehicle-secured loans to its residents.
Real Rate Example in New York
A $1,500 loan in New York 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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Title Loans Union Editorial Team
Consumer Finance & State Regulations Research
Our editorial team monitors state statutes, interest rate ceilings, and car title loan regulations across all 50 states. We analyze legal statutes, state regulatory filings, and consumer protection policies to provide clear, unbiased analysis of borrowing requirements and costs.
*Last reviewed: June 2026. Always verify with your state's financial regulatory body before applying. Laws change frequently.
Quick Info Card
Max Loan Amount
N/A
Max APR / Rate
N/A
Loan Term Range
Varies
Governing Body
NY Dept. of Financial Services