Title Loan Data for Portsmouth, VA
$4,895
Average Loan Amount
$4,789–$5,000
Loan Range
2017
Average Vehicle Year
2
Loans Funded
Based on 2 loans in Portsmouth from 2024 to 2025. Actual loan amounts vary based on your vehicle’s condition, mileage, your ability to repay the loan, and Virginia regulations.
Actual Title Loans Funded in Portsmouth, VA
Actual loan amounts vary based on vehicle condition, mileage, and Virginia regulations.
| Year | Make | Model | Miles | Funded Amount |
|---|---|---|---|---|
| 2019 | Buick | Encore | 76,350 | $5,000 |
| 2015 | Nissan | Altima | 81,170 | $4,789 |
| 2008 | Toyota | Sienna | 150,000 | $2,271 |
| 2012 | Dodge | Journey | 113,000 | $2,539 |
| 2008 | Honda | Accord | 203,000 | $1,914 |
| 2017 | Ford | Explorer | 63,288 | $10,249 |
Average Title Loan by Most Common Vehicles in Portsmouth, VA
| Vehicle Make | Avg. Vehicle Value | Avg. Loan Amount | Borrowers |
|---|---|---|---|
| Buick | $9,125 | $5,000 | 1 |
| Nissan | $6,325 | $4,789 | 1 |
Based on 2 loans in Portsmouth from 2024 to 2025. Actual loan amounts vary based on your vehicle’s condition, mileage, your ability to repay the loan, and Virginia regulations.
Did You Know? Portsmouth by the Numbers
What Portsmouth Borrowers Used Their Loan For
| # | Top Use |
|---|---|
| 1 | Moving Expenses or Security Deposits |
| 2 | Rent or Mortgage Payments |
| 3 | Urgent Vehicle Repairs |
Based on 2 borrowers in Portsmouth from 2024–2025.
Unemployment Rate in Portsmouth, Virginia
6.6% of Portsmouth residents are currently unemployed, compared to the Virginia state average of 4.1%.
Source: U.S. Census Bureau & Bureau of Labor Statistics.
Median Household Income in Portsmouth, Virginia
The median household income in Portsmouth is $60,491. About 17.3% of residents live below the federal poverty line.
Source: U.S. Census Bureau & Bureau of Labor Statistics.
Title Loan Regulations in Virginia
- Interest rate cap: 36% per year interest plus optional monthly maintenance fee up to $15/month (combined rate including fees; Virginia statutory interest is limited under the Consumer Finance Act, with additional fee schedules)
- 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
What a Title Loan Costs in Virginia
| Loan Amount | Term | APR | Interest/Fees | Total Due |
|---|---|---|---|---|
| $500 | 12 months | 36% | $103 | $603 |
| $1,500 | 12 months | 36% | $308 | $1,808 |
| $2,500 | 12 months | 36% | $514 | $3,014 |
Lenders may also charge a monthly maintenance fee (up to $15/month), adding up to $180 per year on top of interest. Always ask your lender for the full APR before signing.
📖 Governing law: Virginia Motor Vehicle Title Loan Act (as reformed by Fairness in Lending Act 2020)
See all Virginia title loan rules and consumer protections on our Virginia title loans page.
Title Loan Questions for Portsmouth, VA Residents
Virginia law requires a lien-free certificate of title, because the lender must record a first-position lien with the Virginia DMV. This secures the lender’s interest during the loan. Once fully repaid, the lender must promptly release the lien and return your title.
At 5 Star Car Title Loans, your car secures the loan. You can borrow up to 50% of your vehicle’s market value based on the car’s worth and your ability to repay, up to Virginia’s $2,500 cap. The lender records a lien with the Virginia DMV and holds your paper title while you keep the car. Monthly repayments run 6 to 24 months, and your title is returned on full payoff.
To apply for a car title loan in Portsmouth, you will need:
• Your car title in your name (paid off)
• A government-issued photo ID
• Proof of income
• Proof of Virginia residency
• Your Social Security number
A low credit score will not automatically disqualify you. What matters most is your vehicle’s value and your income.
Yes. You may still qualify with bad credit or a past bankruptcy. Approval is based mainly on your vehicle’s value and your ability to repay.
Yes. At 5 Star Car Title Loans™, you can complete your pre-approval online for free with no obligation. In most cases, the process, including the application, remote car inspection, and signing the agreement, can be completed from home.
A credit inquiry may be run, but a poor credit history is generally not disqualifying. Because the loan is secured by your car’s title, the main concern is your vehicle’s value and your ability to make scheduled payments.
A title loan may be an option when you need fast access to cash and may not qualify for a traditional bank loan. Bank loans often require higher credit scores and longer approval times. Title loans are usually based on your vehicle’s value and income, but they can cost more and your car may be at risk if you miss payments.
After your final payment, the lender has 10 days to return your certificate of title with the lien released. If the lien is not released promptly, contact the SCC Bureau of Financial Institutions at scc.virginia.gov/bfi or visit dmv.virginia.gov for guidance.
