Title Loan Activity in the 46516 Area
3
Loans Funded
$3,109
Average Loan Amount
2012
Average Vehicle Year
Recent Loans Near 56367 Tulip Tree Ln
| Year | Make | Model | Miles | Funded Amount |
|---|---|---|---|---|
| 2015 | Lincoln | MKX | 80,000 | $5,169 |
| 2011 | GMC | Terrain | 132,000 | $2,000 |
| 2010 | Cadillac | SRX | 130,000 | $2,157 |
Actual loan amounts vary based on vehicle condition, mileage, and state regulations.
Most Common Vehicles
Cadillac ($2,157 avg), GMC ($2,000 avg), Lincoln ($5,169 avg)
Know Before You Borrow in Indiana
- Interest rate cap: 22% per month (264% APR maximum)
- Loan range: No statutory minimum or maximum (depends on vehicle value and ability to repay)
- Repayment term: 30-day term; renewable up to 10 times with 10% principal paydown per renewal; full payoff required after 10 renewals
- Regulated by: Indiana Department of Financial Institutions (DFI)
For complete Indiana title loan regulations and consumer protections, visit our full Indiana guide.
Quick Answers About Title Loans in Elkhart
The smallest recent title loan near 46516 was $2,000 for a 2011 GMC Terrain with 132,000 miles. Across 3 loans in this area, amounts start as low as $2,000. Your loan amount depends on your vehicle’s current market value.
Cadillac is the most common vehicle among title loan borrowers in the 46516 area, with 1 loans funded. The average loan amount for a Cadillac here is $2,157, with an average of 130,000 miles on the odometer.
Yes, title loan rates are generally higher than traditional loan products. Indiana caps title loan rates under IC 24-4.5-3-508 at 36% per year on the first $1,000, 21% on the next $,000, and 15% above $3,000. This is significantly higher than a personal loan or credit union rate. Borrowers with bad credit are still eligible, but the trade-off is a higher cost of borrowing.
Yes, you can lose your car if you stop paying on a title loan in Elkhart. Under Indiana law, the lender must first mail a notice to cure default to your last known address. You have 20 days from that notice to bring the loan current. If you do not cure the default in that period, the lender may repossess per IC 26-1-9.1. No interest or fees may be charged after repossession, and any sale surplus must be returned to you.