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Title loans in Tennessee

Title loans for bad credit in Tennessee

Title loans are allowed in Tennessee from state-licensed lenders (Title Pledge license). Here are the limits Tennessee 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 Tennessee guide

What Tennessee law allows

Title loans in Tennessee
ProductStatusAPR capAmountTermLicenseLaw
Title loans[1][2][3] AllowedHigh-cost loan 24% APR Up to $2,500 30 days to 30 days Title Pledge license Tenn. Code Ann. Section 45-15-111; Section 45-15-115
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
Title Pledge Act (Tenn. Code Ann. Section 45-15-111(a)): lender may contract for interest not to exceed an effective rate of 2% per month, plus a fee of up to 1/5 (20%) of the original principal amount (or unpaid balance on renewal). 2% per month is roughly 24% APR before the added 20% fee.
Fees
Additional fee up to 20% of original principal (or unpaid balance on renewal); lender may also pass through actual repossession costs charged by a third-party repossession company/attorney/contractor.
License
Title Pledge license under Tenn. Code Ann. Title 45, Chapter 15, TDFI (not transferable or assignable).

Full detail for every loan type: Tennessee lending laws.

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Rent and jobs in Tennessee

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

Rent and unemployment in Tennessee
MeasureValueYear
Fair market rent, 2 bedroom (monthly)[4]$1,363FY2026
Unemployment rate[5]3.4%2026-08

Other options in Tennessee

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 Tennessee.

Other loan types allowed in Tennessee

See every loan type Tennessee law allows.

Title loans in nearby states

  • KentuckyRestrictedHigh-cost loan 36% APR
  • AlabamaAllowedHigh-cost loan 300% APR
  • GeorgiaAllowedHigh-cost loan Cap set in statute
  • IndianaAllowedHigh-cost loan 36% APR (top tier)
  • MississippiAllowedHigh-cost loan 300% APR

Sources

  1. Justia. Tenn. Code Ann. Section 45-15-111. Retrieved September 23, 2026.
  2. tn.gov/tdfi/mortgage-consumer-lending/tpl/tdfi-tpl-faq.html. Retrieved September 23, 2026.
  3. tn.gov. Tennessee Department of Financial Institutions (TDFI). Retrieved September 23, 2026.
  4. National Low Income Housing Coalition. Out of Reach 2026: Tennessee. Retrieved September 23, 2026.
  5. 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 Tennessee. 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)
24%
Repayment
1 payment after 30 days
Payment
$1,019.73
Finance charge
$19.73
Total of payments
$1,019.73

Example: a $1,000 title loan at 24% APR repaid in 1 payment after 30 days costs $1,019.73, including a finance charge of $19.73. 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 Tennessee? Contact the Tennessee Department of Financial Institutions (TDFI) or file a state complaint.
  • You can submit a complaint about any lender to the Consumer Financial Protection Bureau at consumerfinance.gov/complaint.