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Title loans in Illinois

Title loans for bad credit in Illinois

Title loans are allowed in Illinois. Here are the limits Illinois law sets, what a typical loan can cost, and where to get free help if you need it.

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Last updated .

Part of the Illinois guide

What Illinois law allows

Title loans in Illinois
ProductStatusAPR capAmountTermLicenseLaw
Title loans[1][2] AllowedHigh-cost loan 36% APR Not set by statute Not set by statute Title-secured loans made under the Consumer Installment Loan Act require the CILA license from IDFPR 815 ILCS 123; 205 ILCS 670; former Illinois Title Loan Act largely superseded
Verified against the statute and regulator on September 23, 2026. Laws change; confirm with the regulator before you borrow.

Bars place each APR cap on a 0 to 400% scale; the pin marks the cap. A striped bar means the statute sets no numeric cap.

The rules in full

Title loans

Rate cap
Same 36% all-in MAPR cap under the Predatory Loan Prevention Act (815 ILCS 123) applies to title-secured consumer loans; the prior Illinois Title Loan Act's higher rate allowances no longer apply above this ceiling.
Fees
All-in 36% MAPR including interest, fees, and charges; a loan exceeding this is null and void with no right to collect principal, interest, fees, or charges.
License
Title-secured loans made under the Consumer Installment Loan Act (205 ILCS 670) require the CILA license from IDFPR; CILA licensees must report title-secured loans to the state loan database under PLPA implementation.

Full detail for every loan type: Illinois lending laws.

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Rent and jobs in Illinois

Typical rent and the jobless rate, to weigh before a loan payment.

Rent and unemployment in Illinois
MeasureValueYear
Fair market rent, 2 bedroom (monthly)[3]$1,579FY2026
Unemployment rate[4]4.7%2026-08

Other options in Illinois

Cheaper options to try first

Worth checking whatever your credit: these can cost less than a high-rate loan.

  • Credit union payday alternative loans (PALs), capped at 28% APR under NCUA rules (12 CFR 701.21).
  • Nonprofit credit counseling through the National Foundation for Credit Counseling.
  • A payment plan from the company you owe, if you ask before you miss a payment.
  • 211 for help with rent, utilities and food: call 211 or visit 211.org.

More cheaper options in Illinois.

Other loan types allowed in Illinois

See every loan type Illinois law allows.

Title loans in nearby states

  • IndianaAllowedHigh-cost loan 36% APR (top tier)
  • MissouriAllowedNo rate limit in state law No rate limit
  • IowaAllowedHigh-cost loan 21% APR
  • KentuckyRestrictedHigh-cost loan 36% APR
  • WisconsinAllowedNo rate limit in state law No rate limit

Sources

  1. idfpr.illinois.gov. Illinois Department of Financial and Professional Regulation (IDFPR), Division of Financial Institutions. Retrieved September 23, 2026.
  2. ilga.gov. 815 ILCS 123. Retrieved September 23, 2026.
  3. National Low Income Housing Coalition. Out of Reach 2026: Illinois. Retrieved September 23, 2026.
  4. U.S. Bureau of Labor Statistics. Local Area Unemployment Statistics (LAUS), All States, Seasonally Adjusted. Retrieved September 23, 2026.

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Important disclosures

APRs vary by lender and state in Illinois. Each lender sets its own rates and terms and must show you the APR before you sign.

Representative example

Amount borrowed
$1,000
Annual percentage rate (APR)
36%
Repayment
12 monthly payments
Payment
$100.46
Finance charge
$205.52
Total of payments
$1,205.52

Example: a $1,000 title loan at 36% APR repaid in 12 monthly payments of $100.46 costs $1,205.52 in total, including a finance charge of $205.52. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.

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  • Questions about a lender licensed in Illinois? Contact the Illinois Department of Financial and Professional Regulation (IDFPR), Division of Financial Institutions or file a state complaint.
  • You can submit a complaint about any lender to the Consumer Financial Protection Bureau at consumerfinance.gov/complaint.