Title Loan Activity in the 23518 Area
10
Loans Funded
$2,021
Average Loan Amount
2013
Average Vehicle Year
Recent Loans Near 7044 N Military Hwy
| Year | Make | Model | Miles | Funded Amount |
|---|---|---|---|---|
| 2012 | Toyota | RAV4 | 196,000 | $2,786 |
| 2017 | Chevrolet | Cruze | 62,000 | $805 |
| 2013 | Mercedes-Benz | C Class | 57,000 | $832 |
| 2017 | Chevrolet | Cruze | 62,000 | $1,255 |
| 2013 | Ford | Escape | 71,000 | $1,000 |
Actual loan amounts vary based on vehicle condition, mileage, and state regulations.
Most Common Vehicles
Ford ($2,378 avg), Mercedes-Benz ($1,879 avg), Chevrolet ($1,030 avg)
Know Before You Borrow in Virginia
- Interest rate cap: 36% per year interest plus optional monthly maintenance fee up to $15/month
- Loan range: Up to $2,500 (no minimum)
- Repayment term: 6 to 24 months
- Regulated by: Virginia State Corporation Commission (SCC) – Bureau of Financial Institutions
For complete Virginia title loan regulations and consumer protections, visit our full Virginia guide.
Quick Answers About Title Loans in Norfolk
In the 23518 area, title loans have ranged from $805 to $4,243, with an average of $2,021 across 10 loans funded. The largest recent loan was $4,243 for a 2009 Ford Mustang. Your amount depends on your vehicle’s value and ability to repay.
Yes. Vehicles with high mileage regularly qualify. Near 23518, a 2012 Toyota RAV4 with 196,000 miles on it was approved for $2,786. The average mileage among borrowers in this area is 93,700 miles.
We’re located in Norfolk, near Norfolk Christian Schools and Fisherman’s Net Preschool & Learning Center, with Norfolk Collegiate also nearby. Look for us at 7044 N Military Hwy.
Yes. Title loans often come with high costs. In Virginia, on a $1,000 loan you could pay up to about $45 per month (around $30 in interest plus up to $15 in monthly fees). Total charges over the life of the loan are capped at 50% of the loan amount for loans of $1,500 or less, and 60% for loans above $1,500. You should treat this as a short-term option and plan to repay it on time.
Example:
If you borrow $1,000 in Norfolk, total interest and fees cannot exceed $500.
In Norfolk, VA, your vehicle can be repossessed if you miss a payment. You must receive written notice at least 10 days before the lender takes action. You can stop repossession by paying what you owe plus fees within that period.
