Car Title Loans in South Dakota2026 Guide
South Dakota allows title loans with a 36% APR cap.
Legal Status & Regulations
Governing Law
S.D. Codified Laws § 54-4-36
Last Reviewed: April 2026
Law Summary
In 2016, South Dakota voters passed an initiated measure capping interest rates on all consumer loans, including title loans, at 36% APR. Governed by S.D. Codified Laws § 54-4-36, lenders must be licensed and are prohibited from using "rent-a-bank" schemes to bypass the rate cap, ensuring fair lending practices.
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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Max Loan Amount
No limit
Max APR / Rate
36% APR
Loan Term Range
Varies
Governing Body
SD Division of Banking