Car Title Loans in Tennessee2026 Guide
Tennessee allows title loans under the Title Pledge Act.
Legal Status & Regulations
Governing Law
TN Code §45-15-101
Last Reviewed: April 2026
Law Summary
The Tennessee Title Pledge Act (TN Code § 45-15-101) governs title loans. Interest rates and fees are capped at 2% per month, but lenders can also charge a monthly "customary fee" of up to 20% of the loan amount, effectively creating a high APR. Loans are 30-day terms and can be renewed. Lenders must provide a "Title Pledge Agreement" with specific disclosures and are regulated by the Department of Financial Institutions. Tennessee law requires that if a vehicle is repossessed, the lender must follow specific procedures for its sale. Borrowers have a 30-day period after the loan maturity date to redeem the vehicle by paying the full amount due plus any storage fees. Any surplus from the sale of a repossessed vehicle must be returned to the borrower.
Real Rate Example in Tennessee
A $1,500 loan in Tennessee 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
TN Dept. of Financial Institutions