Virginia Title Loans – What’s Required & How To Apply

Online title loans are somewhat easy to get in Virginia because they are readily available from dozens of direct lenders within the state and of course through online providers. All you need is to have a vehicle and give it as collateral in exchange for a car title loan. This concept is very well known to everyone. We all know how most short term loans have high interest rates and it’s difficult for some people to pay them back. Title loans have caused a lot of depression to some people. That is why there are a few states that forbid car title loans. Some states allow this form of lending but have regulations on the books to limit the amount of interest that can be charged.


Title Loan Laws in Virginia

Virginia allows car title loans and qualified applicants can apply for funding. Much like other states, there are some basic regulations for title loans in Virginia. As in the case of the normal secure loans everywhere, they verify the value of your vehicle and then decide the payment. So title loans rarely check the credit status, since they designed it for people like them. All you have to do is to provide your government-regulated ID, fill an application form that they provide in the title loan office, and you will get your loan amount in 30 minutes. When you apply it online, you will get a call from them asking about your details and car details and will ask you to visit their office with your collateral i.e., your vehicle. In either of the cases, they are expecting you to visit their office.

You need to provide car details along with a NOC and a title for your car as collateral and submit them to them. Any lender in Virginia will inspect your car or any of the vehicles that you mark as your collateral and they take it. They provide a loan for a duration between 120 days and below 12 months. It is never before 120 days and is against their laws.


Alternatives to title loans in Virginia if you live in other states. You can consider these options if you have a residence in the following locations:

  • In Alabama, there is no restriction on the amount you can borrow. The loan amount is not to be restricted to return within 10 days.
  • In Arizona, they do not restrict the loan terms within 6 days, and the interest rate does not exceed 17%.
  • In Delaware, loan terms cannot exceed 180 days.
  • In Georgia, the loan terms aren’t regulated and the interest rate cannot exceed 25%.
  • In Idaho, loan terms cannot exceed over 30 days.
  • Loans in Mississippi cannot borrow more than $2,500 and loan terms cannot exceed a month and provide a principal amount of 10% and interest of 25%.
  • In Nevada, there are no regulations as much as in other states like Virginia; The only regulation is that the loan is renewable only six times.
  • South Dakota has the same regulations as in the case of Nevada, but the only difference is that a title loan with no inspection is renewable only four times.
  • Tennessee has the same rules as Mississippi, but the only difference is that the interest amount is only 2%.

Virginia Title Loans – What Else To consider

Title loans are still offered to some residents in Virginia but you need to know how to apply and where to look. Perhaps it’s better to apply online or it’s easier to fill out an application directly with a lender in Norfolk. Whichever way you choose to get started with an application we recommend you first compare companies offering secured loans. Find a lender with fair rates and terms that are fairly spelled out on their website.

Restrictions for short term lending are not set on the federal level and it’s up to each individual state to regulate title loan companies. It seems there are further changes on the way concerning title loans in Virginia. We expect increased scrutiny on interest rates and payoff terms and this includes those of payday loan offers as well.

Regardless of whichever unsecured loan or title loan offer you choose, we recommend you run the numbers through our title loan interest calculator. This feature helps you to better determine the interest rate or APR that best fits your needs.