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If you live in Maryland and need money fast, a car title loan might catch your attention. Car title loans are known for offering same day cash with very little paperwork2, and they’re often available to customers with low credit scores1. However, it’s important to understand how they work—and whether they’re even allowed in your state before considering one as a solution.
Maryland’s plates celebrate the state’s flag, making them one of the most colorful in the U.S.—good luck missing them in traffic!
No, car title loans are not permitted in Maryland. The state enforces strict usury laws that limit how much interest a lender can charge—typically capping annual percentage rates at 24% to 33%, depending on the loan size. Since title loans often involve much higher rates, they don’t meet Maryland’s legal standards and are effectively banned.4
Important Notice: We are not currently providing car title loan services in this state. The information provided here is meant to explain auto title loans in general terms. We may be able to help with other loan options.
Car title loans use your vehicle’s title as collateral, making them a type of secured loan. As long as your vehicle’s value is sufficient and you have legal ownership, meaning you have the title and registration, you may qualify for the loan—even with poor credit1. The lender holds onto your title and once you have paid off the loan you get your title back.
One of the main benefits of an auto title loan is that you can still use your vehicle during the loan period. The process is designed to be simple and fast. Many lenders offer quick online applications, and if approved, you could receive your funds as soon as the same business day.2
However, it’s important to understand the terms and know that failing to repay could result in losing your vehicle.4
Typically, lenders offer loan amounts ranging from 25% to 50% of the vehicle’s equity value. This means that if your car is worth $10,000 and you owe nothing on it, you could potentially borrow between $2,500 and $5,000. The exact loan amount can vary depending on the lender and the borrower’s creditworthiness.
Title loans can help with many short-term or emergency financial needs. People often use them to:
Title loans are commonly used when fast cash is needed and other options aren't available. We recommend using them only in case of emergencies.
To apply for a car title loan during the application process you will be asked to submit documents, lenders may ask for the following documents:
Lender Tip: Accurately filling out the application form is crucial 2 to ensure a smooth and quick process.
If you have bad credit, getting approved for a loan can be challenging, especially through traditional banks or credit unions. Car title loan lenders work with all credit types1 giving people an option to get the money they need. Although there is a credit check, these loans don’t focus on your credit score1. Instead, lenders look at how much your car is worth and whether you can repay the loan.
To be eligible for a car title loan with bad credit, you must meet certain criteria, such as having sufficient vehicle equity, providing necessary documents, and showing financial proof of your ability to repay the loan.
Keep in mind that people with poor credit may get higher interest rates4, which means paying more over time. On the bright side, making on-time payments could help improve your credit if the lender reports your payment history to the credit bureaus.
These loans are commonly used when fast cash is needed2 and other options aren't available. We recommend using them only in case of emergencies.4
Qualifying for a vehicle title loan requires applicants to have a car with no liens and sufficient equity. This allows a borrower to get about 25-50% of the vehicle’s value. Lenders determine eligibility and loan amounts by evaluating the vehicle's equity and the borrower's repayment ability. For a car title loan stable income enhances approval chances1, though proof of employment is not always mandatory.
Fill out a quick loan request form online or give us a call at (888) 364-9758 to see if you pre-qualify in just minutes.
Once you're pre-approved, we’ll ask for a few documents to confirm your details. The sooner you send them in, the sooner we can move forward and help you access the cash you need.
Receive your funds the way that works best for you—either by direct deposit into your bank account or by picking up cash.2
The great thing about online title loans is that you do not have to physically bring the car into a location to be inspected. Most lenders only need you to send them photos of the car. Usually, they will ask for the 4 sides, vehicle identification number (VIN), and mileage. Sometimes they may ask for a video of the car running as well.
In Maryland, car title loans are illegal due to their high interest rates and predatory nature4. The state's Consumer Credit Laws cap annual percentage rates (APRs) between 24% and 33%, significantly lower than the typical rates charged by title loan lenders. These regulations aim to protect residents from falling into cycles of debt associated with high-cost lending.
Below is a summary of the regulatory bodies and relevant laws governing title loans in Maryland:
| Regulatory Body | Role |
| Office of the Commissioner of Financial Regulation | Oversees and enforces state lending laws, ensuring compliance with interest rate caps and licensing requirements. |
| Maryland Attorney General's Office | Enforces consumer protection laws and takes action against predatory lenders operating illegally. |
| Relevant Law | Description |
| Maryland Commercial Law Code Title 12, Subtitle 3 | Governs consumer loans, including interest rate caps and licensing requirements for lenders. |
| Maryland Interest and Usury Laws | Establishes maximum legal interest rates to prevent usurious lending practices. |
Understanding these regulations helps Maryland residents recognize that car title loans are not a legal or safe borrowing option within the state. It's advisable to explore alternative, lawful financial solutions when in need of short-term funds.
*Disclaimer: FDIC members banks may charge higher interest rates
If you need quick cash in Maryland, consider these legal and safer alternatives:1
These alternatives are also available for borrowers with bad credit, offering more flexible options beyond title loans.
A clear title is a title that is free of any liens or loans. To obtain a clear title in Maryland, the vehicle must be free of any outstanding loans or liens, and the owner must provide proof of ownership. This means that the vehicle must not have any financial claims against it from previous lenders or lien holders.
If you recently bought the car and have yet to transfer ownership sometimes the lender may complete the transfer for you however you would need a bill of sale. Once the loan is finalized the lender will have the transfer completed and ownership will be in your name.
If you misplaced your title some lenders have the option to request a duplicate title and are still able to process the loan the same business day.2
Obtaining a title loan on a financed vehicle is possible if the car’s equity exceeds the outstanding loan balance. Policies regarding title loans on financed cars vary by lender; some may allow it, while others may not.
Securing a title loan on a financed car also depends on the specific policies of the lending institution. Titling the car’s value to ensure it exceeds the remaining loan balance is crucial for eligibility.
Want to get an idea of what a title loan might cost before moving forward? Our easy-to-use title loan calculator lets you estimate how much you could borrow, what your monthly payments might look like, and how much interest you'd pay over time.4
It’s a helpful way to see the full picture and plan your budget. Use it anytime—no application required. This tool is great for making smart financial choices and seeing if a title loan really fits your needs.
While title loans in Maryland may sound like a fast way to get cash, they are not allowed under state law due to high interest rates and risk of debt. Maryland offers strong consumer protections4 and safer loan options.
If you’re struggling financially, consider legal alternatives and talk to a financial advisor before taking out any type of loan. Need help exploring your options? Reach out today or submit an inquiry online to see what safe and legal loan solutions may be available to you.
Depends on your needs. Yes, title loans are an option for getting cash the same business day2 but they come with high borrowing costs and significant risks4, including the potential loss of your vehicle. Approximately 1% of American adults opt for auto title loans annually, highlighting their appeal despite the associated risks.
Failure to repay a title loan can lead to automatic rollover into new cycles with additional fees, creating a debt trap. Alternatives to title loans, such as personal loans or credit cards, can often provide more affordable and less risky options.
Certain financial circumstances, such as having a bankruptcy or significant unpaid debts on your credit history, can lead to disqualification for a title loan. Failure to provide the required documentation, like proof of income1 and vehicle ownership, may result in ineligibility for a title loan.
Additionally, having a vehicle that is still financed or does not meet the minimum value threshold set by lenders can also lead to disqualification.
The amount you can receive from a car title loan is typically influenced by your vehicle’s value, your cash requirements, and your repayment capability. Some lenders may offer loan amounts up to $50,000 based on the equity in your vehicle.
Many opt for auto title loans because they offer quick access to cash without stringent credit checks. The car title loan process is simpler compared to traditional bank loans, often providing funding within 24 hours. They are meant to be short term loans and repaid back as quickly as possible.
Consumers with poor credit histories may prefer title loans due to the absence of a minimum credit score needed by most lenders. Title loans provide immediate financial relief in emergencies. People often choose title loans because they don’t require a bank account, making them a convenient option for those without traditional banking access.
Written by
Bryan Solis
Bryan Solis brings over a decade of expertise in the lending industry, specializing in auto finance, personal loans, and car title loans, with experience in both prime and subprime lending. Leveraging his academic foundation in Business Administration, he has played a role in in the growth of start-ups as well as driving sustained success in established organizations. Currently serving as Head of Sales at 5 Star Loans, he has demonstrated exceptional skills in operational leadership and client relationship management, contributing to the company’s success.
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Applications submitted on this website may be originated by one of several lenders, including: 5 Star Loans, Inc., dba 5 Star Car Title Loans, a licensed lender in California; or one of our lending partners, including tribal lenders.
Loans originated by our lending partners will not be serviced by 5 Star Car Title Loans.
*Choosing a loan amount between $250 to $2000, will connect you to our lending partners who provide installment and payday loans.
Applicants must be at least 18 years of age (19 in Alabama). Loans not available in all states.
See State Disclosures for additional information.
1Approving loans depends on meeting the credit criteria of the lender, and may be based in whole or in part on information obtained from a national database including, but not limited to, TransUnion, Equifax, LexisNexis or FactorTrust, Inc. This could also include offering certain assets as collateral. The actual loan amounts, terms and Annual Percentage Rate (APR) of a loan that the consumer qualifies for could vary according to the consumer. 5 Star Car Title Loans® has no control over other lenders’ interest rates or payments.
Proceeds of the loan are meant to be mostly used for personal, household or family purposes. The minimum loan amounts differ according to various states. Consumers must prove their ability to pay the loan back.
2Filling in the application form can take five (5) minutes to finish. When completed, conditional approval could be given, even though review of documentation is pending. Final funding time begins from the time the request gets final approval after it has been received and reviewed, with all necessary documents, and signed before 2pm of your lender’s local time during a business day.
3Some lenders offer option to rescind. If the consumer chooses to exercise the right to rescind the application, the consumer(s) must send a written notification to the lender before midnight on the 3rd calendar day after receiving the loan. The consumer(s) needs to return all monies received and the fees paid on the consumer(s) behalf by certified funds within one business day.
4Car Title Loans are expensive, and you may have other ways to get funding that is less expensive. These types of loans are meant to provide you with short term financing to solve immediate cash needs and should not be considered a long-term solution. We encourage and suggest that consumers pay often and early to avoid any additional finance charges.
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