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Title loans in Maryland

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Shir Amram

Written by: Shir Amram

Getting a Car Title Loan in Maryland

Need immediate financial assistance and own a car in Maryland

Title loans in Maryland could provide a swift solution. These loans use your car's title as collateral. They provide quick access to cash for urgent expenses, and they require minimal paperwork, even for individuals with poor credit.

Maryland Flag, USA

Maryland, known as "The Old Line State," features a distinctive flag with striking black, gold, red, and white patterns representing the state's unique history and heritage.

Key Takeaways

  1. Residents of Maryland can access title loans through specific online lenders, despite some state restrictions.
  2. Complete online request form and receive pre-approval for a car title loan in minutes, with the potential to obtain up to $25,000.
  3. Even with poor credit, individuals can qualify for car title loans in Maryland, as these loans rely on vehicle equity and income rather than credit scores.
  4. Maryland's legal framework for title loans aims to ensure fair lending practices and protect consumers, with specific regulations.
  5. A simple title loan calculator can be a useful tool for estimating loan amounts, interest rates, and monthly payments, helping borrowers plan effectively.

Can You Get Title Loans in Maryland?

Important Notice: Yes, residents of Maryland may still have access to title loans. While some states, like Maryland, restrict car title loans, certain lenders may still offer them. 

For example, banks, members of the FDIC who are not regulated by the states, may have title loan programs in certain states.

Montana Capital Car Title Loans offers a convenient solution for Maryland residents. You can efficiently complete an online request form and obtain pre-approval for an auto title loan in just minutes, all without any obligation!

Baltimore Inner Harbor

What is a Car Title Loan? 

A car title loan, also called an auto title loan, is a short-term loan. You use your car's title as collateral for the funding amount. 

You give the lender your car's title as collateral until you've repaid the loan, and in exchange for that you receive the money. The good thing is that you can still keep and use your car while you have the loan.

What Can I Use The Loan For?

The funds from vehicle title loans can be used for a variety of personal and household expenses such as:

  • home repairs
  • rent
  • medical bills
  • funeral costs
  • travel
  • other special occasions

However, it's essential to consider using this loan mainly for emergencies because they typically come with high interest rates.

How Do Maryland Car Title Loans Work?

Maryland auto title loans, being secured, can provide a valuable financial cushion during challenging circumstances. They are designed to be accessible, even to those with poor credit or limited borrowing history. 

Applying for an online title loan in Maryland is extremely straightforward. You can request online title loans either online or over the phone, and the best part is that the process is quick, so you can get pre-approved in minutes.

What Do I Need To Get a Title Loan in Maryland?

When you’re getting an auto title loan in Maryland, you’ll need to have the following documents:

  • Driver’s license or another government-issued ID
  • Vehicle’s title
  • Current vehicle registration
  • Proof of insurance
  • Any financial documents related to your vehicle

Title loans are different from a traditional bank loan that typically demands a good credit score and a long list of documents.

The approval process can be completed within 15 to 45 minutes, making the loan process much faster than traditional bank loans.

Applying for an Online Title Loan

Here's how it works:

  • Online Request: Begin by completing an online form, where you'll provide personal information and details about your vehicle, including its make, model, year, and mileage.
  • Submit Documentation: You can easily upload images of your car for evaluation. Simply take a photo or create a video of your vehicle and send it online. No need to wait in long lines or visit a physical location.
  • Remote Assessment: The title loan lender will assess your request remotely, taking into account your car's value, equity, credit history, and confirming your income.
  • Online Approval: If your application meets the requirements, you'll receive loan approval. The loan amount, based on your car's value and income, will be communicated to you.
  • Receive Funds: Choose your preferred method to receive the loan – either through direct deposit to your bank account, branch pickup, or MoneyGram at Walmart.

Repayment Terms and Conditions

The repayment terms for car title loans in Maryland offer flexibility. If you can pay the total amount early, you won’t have to deal with any extra fees. This gives you the freedom to handle your loan without worrying about additional costs.

Should you require more time to repay, there’s no need to fret. You can extend the repayment period for an auto title loan in Maryland, giving you more flexibility in managing the loan. 

However, remember that failing to repay on time could result in the lender taking your vehicle as collateral.

Eligibility Criteria for Maryland Title Loans

To obtain a car title loan in Maryland, there are two main criteria you need to meet:

Vehicle Equity and Value: 

In car title loans, your credit score is not the main criteria; approval hinges on your vehicle's equity and value. You must have a car title with no liens, indicating that you fully own the vehicle without any outstanding loans or financial obligations tied to it. Typically, you can borrow 25-50% of your vehicle's equity.

Income and Identification: 

Your income also matters. A higher and more stable income enhances your eligibility for a car title loan in Maryland. It might even increase the amount you can borrow. 

You can receive a title loan without proof of employment. You will also need to provide a valid ID, usually your driver's license, for identification purposes.

These two criteria, vehicle equity/value and income, are essential when applying for an auto title loan in Maryland.

Advantages of Maryland Auto Title Loans

There are several key advantages that make Maryland auto title loans a popular choice for many individuals facing financial emergencies. 

Here Are The Main Benefits of Maryland Auto Title Loans:

  • Maryland auto title loans provide quick cash access usually on the same day.
  • These loans are accessible even to those with bad credit.
  • The application process is simple and can be done from home.
  • You can keep driving your car during loan repayment.

Understanding the legal aspects surrounding title loans in Maryland is crucial for borrowers seeking quick cash. Maryland enforces strict regulations to ensure fair lending practices and protect consumers. 

Legal AspectDescription
RegulationTitle loans in Maryland are regulated under the Consumer Loan Law to ensure fair lending practices.
LicensingLenders must be licensed by the Commissioner of Financial Regulation (CFR) to operate legally.
Interest RatesMaryland imposes a maximum interest rate of 33% per annum on title loans.
Transparency RequirementsLenders must provide clear loan terms, fees, and consequences for non-payment to borrowers.
Consumer Installment LoansAs an alternative to traditional title loans, Maryland permits "consumer installment loans" using vehicles as collateral without requiring the title.
RestrictionsThe maximum loan amount for a title loan in Maryland typically ranges from $1,000 to $25,000, depending on the lender and the vehicle's value.

In summary, Maryland's legal framework for title loans aims to create a fair lending environment while offering alternatives for borrowers. 

Careful consideration and financial guidance are essential to make informed decisions and protect financial well-being.

Johns Hopkins University, Baltimore, MD

What If I Have Bad Credit?

Even with a poor credit score, you can still qualify for a vehicle title loan in Maryland. These loans are secured by the value of your vehicle, so they don't heavily depend on your credit history. Instead, what matters are your ability to repay the loan and your car's equity.

Furthermore, making your payments on time for a vehicle title loan can help you rebuild your credit score. Some lenders are even willing to approve borrowers with bad credit on the same day. 

This means that car title loans in Maryland can be a practical choice for individuals with less-than-ideal credit.

How Long After My Title Loan is Approved Do I Receive The Money?

Upon approval of your car title loan in Maryland, you could receive the funds within 24 hours, or even sooner, depending on the lender. For instance, with our company, borrowers can usually get their title loan funds within hours after approval.

The funds can be received in your bank account through direct deposit, checks, or instant funding options.

Alternatives to Title Loans in Maryland

In Maryland, while title loans offer a quick funding solution for individuals with low credit scores, there are alternative options that may better suit certain borrowers. These alternatives include personal loans, credit card cash advances, and borrowing from friends or family.

Personal Loans:

Personal loans are typically unsecured, meaning you don't need to provide collateral. However, due to the absence of security, these loans often come with higher interest rates, especially if your credit score is low. 

They can be used for various purposes, such as debt consolidation, home improvements, or covering medical expenses. You can usually obtain personal loans from banks, credit unions, or online lenders. 

If you have a poor credit history, securing approval for a personal loan in Maryland can be challenging, as lenders may perceive you as a higher-risk borrower.

Credit Card Cash Advances:

Credit card cash advances in Maryland are short-term loans that allow borrowers to access funds up to their available credit limit on their credit card. They provide quick access to cash without requiring collateral. 

However, credit card cash advances often come with high interest rates, which may make this option less cost-effective for some borrowers.

Borrowing from Friends or Family:

Borrowing from friends or family can be a cost-effective alternative to title loans in Maryland. Typically, this option involves lower interest rates and more flexible repayment terms than traditional loans. 

However, it's crucial to establish clear repayment terms and maintain open communication to prevent straining relationships when opting for this borrowing method.

Can You Get a Title Loan on a Financed Car?

Yes, In Maryland, you can get a title loan on a financed car, but it depends on two things:

  • Equity: This means the difference between what you owe on the car and what it's worth. If the car's value is higher than what you owe, you can use it as collateral.
  • Lender's Policies: It also depends on the specific rules of the lender you choose. Some lenders may allow it, while others may not.

So, if your car has enough equity and the lender is okay with it, you can get a title loan on a financed car in Maryland.

How a Title Loan Calculator Can be Useful for You

A title loan calculator is a handy tool for loan planning. It provides estimates for the loan amount, interest rates, and monthly payments. You can use it by entering your desired loan amount and interest rate.

To use a title loan calculator, you would need details like:

  • The amount you want to borrow
  • The interest rate you’re anticipating
  • The loan duration
  • Any extra fees that might come into play

Lender Tip:

Keep in mind that while these calculators provide helpful estimates, title loans may involve high costs and potential risks.

You should weigh all your options and fully comprehend the terms and risks of a title loan before making a commitment.


In summary, car title loans in Maryland provide a swift cash solution for those with poor credit. Despite regulatory restrictions, Maryland residents can legally obtain an online loan from outside of the state. These loans feature a straightforward application process and flexible repayment terms.

However, like any financial decision, it's crucial to do your homework, understand the loan terms, and explore your options. Consider using a title loan calculator. Remember to borrow responsibly, weighing the potential risks and benefits.

If you have any questions or concerns and need assistance, please don't hesitate to reach out. We're here to help and can assist you online or by phone at 800-700-8900.

Frequently Asked Questions

In Maryland, car title loans are not permitted by state law. However, you can legally obtain a car title loan from certain lenders located outside the state.

What is The Highest Title Loan You Can Get?

Generally, you can secure a loan ranging from 25% to 50% of your vehicle's value, potentially reaching as high as $25,000, depending on the lender.

Do Title Loans Hurt Your Credit?

Title loans can influence your credit in two ways. If you make on-time payments, it can potentially help boost your credit score. On the other hand, if you default on the loan, the lender may repossess your vehicle, which could negatively affect your credit rating.

Is There a Prepayment Penalty on a Title Loan?

No, there are no prepayment penalties on a title loan. This means you can pay off your loan early without incurring any extra fees. This can be a great way to save on interest costs over the life of the loan.

Shir Amram

Written by

Shir Amram

Shir Amram is a senior loan officer at Montana Capital Car Title Loans. With over 10 years of experience in the finance industry, Shir has been an asset in her role and has contributed significantly to our company's success, Shir’s academic background in economics and financial knowledge helps us fulfill our education mission as she creates a valuable content to our blog. 

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