Use the calculator above to estimate your total title loan costs by entering your loan amount, term, and typical APR (often 200-300%). The results show how much you’ll pay over time, including interest charges and the risk of rollover fees if you extend the loan.

How Title Loans Are Calculated

Title loan costs follow a simple formula but compound quickly due to high APRs. Here’s the breakdown:

• Principal: Typically 25-50% of your car’s value
• Interest: Daily or monthly rate applied to remaining balance (e.g., 25% monthly = 300% APR)
• Fees: Origination (10-15% of loan), late payment ($25-$50), and lien ($25-$100)

Example: A $1,000 loan at 25% monthly interest becomes $1,250 after one month. If unpaid, the next month’s interest applies to the new $1,250 balance.

What Affects Your Payment

• APR: Ranges from 120% to 360% depending on state laws and lender
• Loan term: Most are 30 days but often extended via rollovers
• Vehicle value: Higher-value cars may qualify for larger loans (and larger debt)
• State regulations: Some states cap rates or ban rollovers
• Rollover frequency: Each extension typically adds new fees plus compounded interest

Tips to Lower Your Payment

• Negotiate the principal: Lenders may accept less than their max offer
• Choose the shortest term possible: A 15-day loan costs half the interest of a 30-day loan at the same rate
• Avoid rollovers: 80% of title loans get extended, according to CFPB data
• Check for prepayment discounts: Some lenders reduce fees for early repayment
• Consider alternatives: Credit union personal loans average 12-18% APR vs. 200%+ for title loans

Common Questions

Why is title loan APR so much higher than other loans?

Title loans are high-risk for lenders (no credit checks) and short-term, which inflates the APR. A 30-day loan at 25% interest translates to 300% APR when annualized. Most borrowers extend the loan, making the effective rate even higher.

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

Lenders can repossess your vehicle—about 1 in 5 title loan borrowers lose their car, per Pew Research. Some states require lenders to offer repayment plans before repossession. Always check your loan agreement for grace periods.

Are there cheaper ways to borrow against my car?

Yes. Credit union auto equity loans average 10-25% APR versus 200%+ for title loans. Some apps like Dave or EarnIn offer small cash advances with lower fees. Pawn loans (average 120-240% APR) are also typically cheaper than title loans.