Know Before You Borrow in Kentucky
- Interest rate cap: Tiered: 3% per month up to $5,000 (36% APR), 2.42% per month $5,001-$10,000 (~29% APR), 2.25% per month $10,001-$15,000 (27% APR)
- Loan range: Up to $15,000 maximum
- Repayment term: Monthly installment payments
- Regulated by: Kentucky Department of Financial Institutions (DFI)
For complete Kentucky title loan regulations and consumer protections, visit our full Kentucky guide.
Quick Answers About Title Loans in Louisville
What are the consequences of a late title loan payment in Louisville?
A missed payment can lead to repossession. In many cases, lenders must provide written notice and give you time to catch up before selling the vehicle. If the car sells for more than you owe, the remaining balance is typically returned to you. Contact your lender before you miss a payment to explore your options.
What exactly is a car title loan and how does it work?
A title loan is secured by your car. You can borrow up to about 50% of your vehicle’s current market value based on its worth and your ability to repay. A lien is filed with the Kentucky DMV and the title is held while you keep driving. The lien is released and your title returned once the loan is paid off.
