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Have a financial emergency and need cash quickly in Tennessee? If you are a resident of Tennessee, you can use your vehicle’s title to get funds the same day in a few hours, even with bad credit.4
Tennessee’s plates once had three stars for the state’s three regions, but they also had a green mountain version for extra flair!
When you consider a car title loan you usually think about speed and convenience. Securing a title loan in Tennessee is incredibly easy, thanks to the online loan process. You can apply for a title loan either online or over the phone, eliminating the need for in-person visits.2
Unlike personal loans that rely heavily on credit scores, title loans use your car title as collateral. This means you can secure funds even with bad credit history. The loan amount depends on the value of your car and income.1 Tennessee residents find this particularly beneficial during financial emergencies.
Once approved, the lender will place a lien on your vehicle’s title. You can continue driving your car during the loan period, but the lender will hold the title until the loan is paid off.
When applying for a Tennessee car title loan, there are a few key factors that determine your eligibility. These factors include your car's value, your income, and having the proper identification.
When applying for a Tennessee car title loan, your credit score isn’t the main factor. What really matters is the value of your car. To qualify, you’ll need a clear title showing you fully own the vehicle, with no outstanding loans or liens. Typically, you can borrow 25% to 50% of your car's value based on its equity.1
Your income plays an important role in getting approved for a title loan. A stable, consistent income can increase your chances of qualifying and might help you borrow a larger amount. While proof of employment may not always be necessary, having a reliable source of income is recommended.
Income sources such as disability payments, social security benefits or retirement funds are acceptable for proving your ability to repay the loan. You’ll also need a valid ID, like your driver’s license, to complete the process.
The process starts with submitting an online request form or speaking with a representative over the phone. You’ll need to provide basic information about your car and contact details.2
The lender will assess your vehicle’s value. They may ask for pictures of your car and its title to make sure it meets the requirements for the loan. They will also ask for required paperwork.
Once approved, you’ll sign the loan agreement and receive your funds. You can often receive cash the same day or the next business day, depending on the lender.2
To get a title loan in Tennessee, you'll need a few important documents:
Repayment plans for title loans in Tennessee typically range from 30 days to a few months. Repaying a title loan involves adhering to the agreed repayment schedule, which includes the principal, interest, and any associated fees. Make sure you fully understand the repayment terms before agreeing to a loan.
If you find yourself unable to repay a title loan, the consequences can be severe. Missing payments or failing to repay the loan on time can result in repossession of your vehicle.4
The lender has the right to repossess your vehicle, but they must comply with state repossession laws. Before selling a repossessed vehicle, lenders are required to provide you with reasonable notice. Failure to meet payment obligations can also lead to the lender reporting missed payments to credit bureaus, negatively affecting your credit score.4
Knowing the regulations and paperwork required for title loans is crucial for informed borrowing. Title loans in Tennessee are subjected to the Tennessee Title Pledge Act, which governs various aspects including licensing, interest rates, and repossession rules.
| Aspect | Details |
| Regulation | The Tennessee Title Pledge Act regulates title loans, including interest rates, loan amounts, and repossession rules. |
| Governing Bodies | The Tennessee Department of Financial Institutions oversees these loans and ensures compliance with state laws. |
| Interest Rate | Tennessee Title loan interest rate cap interest rates to 36% and 12.5% percent acquisition fees. |
*Disclaimer: FDIC members banks may charge higher interest rates.
To get a Title loan in Tennessee you can apply online or by phone, and even those with bad credit can qualify. Once approved, you often get the money the same day. To apply, you'll need a clear car title, ID, and proof of income. You can keep driving your car while you repay the loan, but it's important to understand the repayment terms to avoid losing your vehicle. These loans are regulated by the Tennessee Title Pledge Act to ensure fair interest rates and borrower protection.
Ready to get the cash you need? Fill out our quick online request form with no obligation.
Title loans should be considered only as a last option. Failing to make payments on time can lead to high fees or even the loss of your car. If you decide to take out a title loan, only borrow what you are sure you can repay to keep your vehicle safe.4
If you have a steady paycheck a payday loan may be the easiest loan to be approved for. A payday loan is a short-term loan that provides a small amount of cash for a short period. These loans are often easier to apply for compared to personal loans.
Yes, you can borrow money with a 500-credit score, particularly if you have collateral to offer, as some lenders may still consider your application. There may still be a credit check involved title loans are based on other factors. However, be prepared for higher interest rates.4
Consider using a vehicle title as collateral to enhance your chances of securing a loan. Lenders often provide flexible options and a simple application process to help you. A car title loan gives you better chances of being approved.4
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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