Tennessee Title Loans

Title loans in Tennessee are secured loan that uses your car as collateral. You can borrow up to the value of your car, and the loan is typically paid back over 30 days. If you can’t repay the loan, you may be able to roll it over into a new loan, but this will come with additional fees. Title loans are a quick way to get cash but are also very expensive. A title loan’s average annual percentage rate (APR) is 300%. That means if you borrowed $1,000, you would have to pay back $3,000 after one year.

What Are The Benefits of Title Loans?

Title loans come with a lot of benefits to borrowers. The main advantages of title loans include:

  • Convenience: Title loans are very convenient. You can apply for a loan online or in-person and have the money in your account the same day.
  • Fast: Title loans are one of the quickest ways to get cash. You can usually get the money within 24 hours of applying for the loan.
  • No credit check: Most title loan companies do not require a credit check. This makes them an ideal option for people with bad credit or no credit.
  • Easy to qualify: Title loans are easy to qualify for. You only need a car with a clear title and a source of income.
  • No early repayment fee: Some lenders charge an early repayment fee if you pay off your loan early, but this is not the case with title loans.
  • Keep your car: You get to keep it and continue driving it while repaying the loan.

What Are The Rates and Terms?

The rates and terms of title loans vary from state to state. In Tennessee, the maximum loan amount is $2,500, and the minimum loan term is 30 days. The maximum APR is 25%. If you borrowed $1,000 for 30 days, you would have to pay back $1,250 after one year.

How do I get a title loan in TN?

You can apply for a title loan online or in-person at a title loan company. To qualify for a loan, you will need to provide the following:

A clear car title:

You must have a clear car title to qualify for a loan. This means you own your car outright, and there are no liens or loans against it.

A source of income:

You will need a steady source of income to qualify for a loan. This can be from a job, government benefits, or any other regular income source.

Proof of residency:

You will need to provide proof of residency in Tennessee. It can be in the form of a driver’s license, utility bill, or lease agreement.

What’s the lowest amount I can get for a title loan?

The lowest amount you can get for a title loan is $100. However, most title loan companies require a minimum loan amount of $200-$300.

Can you have more than one title loan in Tennessee?

No, you can only have one outstanding title loan at a time in Tennessee. Ensure that you understand your needs before taking out the loan. It will help you borrow the correct amount and avoid taking out other title loans.

What are the repossession laws in Tennessee?

If you default on your loan, the lender may repossess your car. The lender must give you written notice of their intent to repossess at least ten days before taking action. Once your vehicle is repossessed, the lender may sell it to cover the cost of the loan.

What is the most common type of title loan?

The most common type of title loan is a single-payment loan. You will need to pay back the entire loan amount, plus interest and fees, in one lump sum.

How long does it take to get a title loan?

It usually takes 24 hours or less to get a title loan. This includes the time it takes to apply for the loan and has the money deposited into your account. You will get instant approval at Greenday Online after applying for the loan. It will include the amount approved and the loan terms. If you agree to the terms, you will get the money in your account as soon as the next business day. Contact us now to find out how much you qualify for.

Do title loans affect your credit?

Title loans will not affect your credit if you make your payments on time. However, if you default on the loan, it will damage your credit score. This is because the lender will report the delinquent loan to the credit bureau.

What happens if I can’t repay my title loan?

The lender may repossess your car if you cannot repay your title loan. The lender must give you written notice of their intent to repossess at least ten days before taking action. Once your car is repossessed, the lender may sell it to cover the cost of the loan.

How can I get a title loan with bad credit?

You can still get a title loan with bad credit. However, your interest rate will be higher than someone with good credit. This is because the lender perceives you as a higher risk.

How can I get out of a title loan?

The best way to get out of a title loan is to repay the loan in full. This includes the principal amount, plus interest and fees. You can also refinance the loan to get a lower interest rate.

What Are The Risks of Title Loans?

There are several risks associated with title loans. The most common risks include:


If you default on your loan, the lender may repossess your car. Once your vehicle is repossessed, the lender may sell it to cover the cost of the loan.

High-Interest Rates:

Title loans typically have high-interest rates. This means that you will pay more in interest than you would with a traditional loan.

Short Loan Terms:

Title loans have short loan terms. This means that you will need to repay the loan quickly. If you can’t repay the loan, you may be forced to roll it over into a new loan. This can lead to a cycle of debt.

Collection Calls:

If you default on your loan, the lender may contact you to collect the debt. The lender may also contact your family and friends.

Jason Rathman
Latest posts by Jason Rathman (see all)

Photo of author

Author D Laidler

I am David, economist, originally from Britain, and studied in Germany and Canada. I am now living in the United States. I have a house in Ontario, but I actually never go.  I wrote some books about sovereign debt, and mortgage loans. I am currently retired and dedicate most of my time to fishing. There were many topics in personal finances that have currently changed and other that I have never published before. So now in Business Finance, I found the opportunity to do so. Please let me know in the comments section which are your thoughts. Thank you and have a happy reading.

Thank you for visiting businessfinancenews.com

Leave a Comment

Business Finance

About Us

Business Finance News is a brand oriented to business owners and dedicated to analyzing and comparing the cost and conditions of B2B procurement of goods and services through free quotes delivered by business partners.


Address 5050 Quorum Drive, (75254) Dallas TX

telephone 844-368-6072


A personal loan is a medium term loan with a fixed interest rate that is repaid in equal monthly payments and it's usually limited to 24 months. Loan offers and eligibility depend on your individual credit profile. Our lenders can help you obtain as much as $3,000 depending on the lender, your state and your financial situation.

The owner and operator of businessfinancenews.com is not a lender and is not involved into making credit decisions associated with lending or making loan offers. Instead, the website is designed only for a matching service, which enables the users contact with the lenders and third parties. The website does not charge any fees for its service, nor does it oblige any user to initiate contact with any of the lenders or third parties or accept any loan product or service offered by the lenders. All the data concerning personal loan products and the industry is presented on the website for information purposes only.

Businessfinancenews.com does not endorse any particular lender, nor does it represent or is responsible for the actions or inactions of the lenders. Businessfinancenews.com does not collect, store or has access to the information regarding the fees and charges associated with the contacting lenders and/or any loan products. Online personal loans are not available in all the states. Not all the lenders in the network can provide the loans up to $3,000. Businessfinancenews.com cannot guarantee that the user of the website will be approved by any lender or for any loan product, will be matched with a lender, or if matched, will receive a personal loan offer on the terms requested in the online form. The lenders may need to perform credit check via one or more credit bureaus, including but not limited to major credit bureaus in order to determine credit reliability and the scopes of credit products to offer. The lenders in the network may need to perform additional verifications, including but not limited to social security number, driver license number, national ID or other identification documents. The terms and scopes of loan products vary from lender to lender and can depend on numerous factors, including but not limited to the state of residence and credit standing of the applicant, as well as the terms determined by each lender individually. 


APR (Annual Percentage Rate) is the loan rate calculated for the annual term. Since businessfinancenews.com is not a lender and has no information regarding the terms and other details of personal loan products offered by lenders individually, businessfinancenews.com cannot provide the exact APR charged for any loan product offered by the lenders. The APRs greatly vary from lender to lender, state to state and depend on numerous factors, including but not limited to the credit standing of an applicant. Additional charges associated with the loan offer, including but not limited to origination fees, late payment, non-payment charges and penalties, as well as non-financial actions, such as late payment reporting and debt collection actions, may be applied by the lenders. These financial and non-financial actions have nothing to do with businessfinancenews.com, and businessfinancenews.com has no information regaining whatsoever actions may be taken by the lenders. All the financial and non-financial charges and actions are to be disclosed in any particular loan agreement in a clear and transparent manner. The APR is calculated as the annual charge and is not a financial charge for a personal loan product. 

Late Payment Implications

It is highly recommended to contact the lender if late payment is expected or considered possible. In this case, late payment fees and charges may be implied. Federal and state regulations are determined for the cases of late payment and may vary from case to case. All the details concerning the procedures and costs associated with late payment are disclosed in loan agreement and should be reviewed prior to signing any related document. 

Non-payment Implications

Financial and non-financial penalties may be implied in cases of non-payment or missed payment. Fees and other financial charges for late payment are to be disclosed in loan agreement. Additional actions related to non-payment, such as renewals, may be implied upon given consent. The terms of renewal are to be disclosed in each loan agreement individually. Additional charges and fees associated with renewal may be applied. 

Debt collection practices and other related procedures may be performed. All the actions related to these practices are adjusted to Fair Debt Collection Practices Act regulations and other applicable federal and state laws in order to protect consumers from unfair lending and negative borrowing experience. The majority of lenders do not refer to outside collection agencies and attempt to collect the debt via in-house means. 

Non-payment and late payment may have negative impact on the borrowers’ credit standing and downgrade their credit scores, as the lenders may report delinquency to credit bureaus, including but not limited to Equifax, Transunion, and Experian. In this case the results of non-payment and late payment may be recorded and remain in credit reports for the determined amount of time.