Car Title Loans in South Dakota2026 Guide
Car title loans are legal in South Dakota with interest rates strictly capped at 36% APR under S.D. Codified Laws § 54-4-36. Learn licensing mandates and voter-enacted rate limits in 2026.
Legal Status & Regulations
Governing Law
S.D. Codified Laws § 54-4-36
Last Reviewed: April 2026
Law Summary
South Dakota regulates car title loans under S.D. Codified Laws § 54-4-36, supervised by the South Dakota Division of Banking. Under Initiated Measure 21, all consumer loans—including vehicle-secured credit—are capped at an all-inclusive 36% APR. Lenders must hold a state license and strictly adhere to statutory consumer protections.
Real Rate Example in South Dakota
A $1,500 loan in South Dakota at a typical market rate of 36% APR 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
Loan Regulations & Guides
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
No limit
Max APR / Rate
36% APR
Loan Term Range
Varies
Governing Body
SD Division of Banking