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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Max Loan Amount
N/A
Max APR / Rate
N/A
Loan Term Range
Varies
Governing Body
NY Dept. of Financial Services