Home > Virginia

Title loans in Virginia

Fill in the online form

trust icons


Call us now

Open hours

Mon - Fri:

9am - 7pm
10am - 4pm

Shir Amram

Written by: Shir Amram

Understanding Virginia Title Loans

With Virginia auto title loans, accessing immediate funding has never been easier. Borrow up to $50,000 same day financing, regardless of your credit score. 

Our quick and easy process ensures that anyone who meets the following qualifications can apply today:

  • Own a fully paid-off vehicle
  • Have a vehicle title in your name
  • Be at least 18 years of age
  • Have a stable source of income

Enjoy the convenience of using your vehicle as collateral, allowing for quick access to cash within 24 hours. Plus, you can keep driving your car while repaying the loan, providing flexibility throughout the process. 

Take advantage of our hassle-free title loan service and secure the funds you need without delay. Apply now and experience the ease of Virginia title loans!

Virginia Flag, USA

Virginia, known as "The Old Dominion," features a unique state flag with a blue field and the state seal centered on it.

Key Takeaways

  • Vehicle Collateral: Using your vehicle as collateral, title loans prioritize vehicle value and repayment capacity over credit history.
  • Simple Process: The online title loan application process is straightforward, with funds often available within one business day.
  • Regulated Rates: Interest rates are capped at max 25% per month and regulated by the State Corporation Commission to ensure fair lending practices.
  • Risks Awareness: Borrowers should be cautious of high-interest rates and potential vehicle repossession if payments are missed.
  • Refinancing Options: Refinancing options are available with specific requirements outlined by state regulations.
  • Borrower Protections: Virginia law provides borrower protections, including the right to rescind the loan and receive surplus from vehicle sales.

Can You Get Title Loans in Virginia?

Yes! Residents of Virginia can access online title loans. Despite certain restrictions in the state, lenders continue to offer this service to borrowers. 

For example, banks under FDIC jurisdiction, not subject to state regulations, may provide title loan programs in specific states.

At Montana Capital Car Title Loans, we provide a straightforward solution for Virginia residents. Just fill out our online request form to receive pre-approval for Virginia title loan today, without any obligations!

Richmond, Virginia

So, How Does Car Title Loans Work?

When you take out car title loans, you give the lender your vehicle's title in return for receiving loan funds.

The Title Loan Process:

  • Car Evaluation: We assess your vehicle's value for the loan amount
  • Required Documents: Provide your car title, ID, and income proof
  • Loan Terms: Receive details on amount, rates, fees, and schedule
  • Agreement Signing: Agree to terms, sign with car title as collateral
  • Fund Disbursement: Approved? Get funds, often on the same business day
  • Repayment Plan: Make timely payments as agreed
  • Title Retrieval: Once repaid, get the title back, lien-free

Online title loans offer an alternative for those struggling with traditional bank loan criteria, providing short-term financial aid.

Benefits of Online Title Loans in Virginia

For borrowers in need of immediate cash, online title loans in Virginia present a raft of advantages. 

Here Are Some Of The Benefits:

  • Apply online without visiting a loan office
  • Receive funds fast, sometimes within 24 hours
  • Multiple convenient fund disbursement options
  • Bad credit score may still qualify for loans

Eligibility Criteria for Virginia Title Loans

To be eligible for Virginia title loan, two primary factors come into play. Let's explore them further.

Vehicle Value Holds More Weight Than Credit:

In Virginia, your credit score takes a backseat when it comes to car title loan approval. Instead, lenders prioritize the equity and value of your vehicle.

To qualify, you'll need a clear car title with no outstanding liens, indicating full vehicle ownership. Typically, you can borrow a percentage, usually between 25% and 50%, of your vehicle's equity.

Financial Stability:

When applying for a car title loan in Virginia, your income plays a significant role. A higher and stable income can enhance your approval chances and possibly allow access to a larger loan amount.

While proof of employment may not always be necessary, having a consistent income source is advisable. Additionally, valid identification, typically a driver's license, is required for verification purposes.

What Documents Are Required for Securing a Car Title Loan in Virginia?

In Virginia, certain paperwork is crucial when applying for a car title loan. Typically, you'll need to provide:

  • A clear car title
  • Valid photo identification
  • Proof of residency
  • Evidence of income
  • Insurance documentation

Online Application Process for Virginia Title Loans

The online title loan process for Virginia residents is quick and convenient, all from the comfort of your home. Designed for instant approval, it's ideal for urgent financial needs.

Here's a Breakdown of The 3 Step Online Application Process:

1. Submit Your Title Loan Request:

Apply online or over the phone in about five minutes. Provide your full name, contact info, and key car details like make, model, year, and mileage.

2. Vehicle Assessment:

After applying, your car's value determines your loan amount. Capture clear photos or a short video of your car's features to avoid in-person visits.

3. Finalize Agreement and Receive Funds:

Once your car's assessment is done, finalize the loan agreement, detailing loan terms. Funds can be received in less than one business day, or even the same day if finalized before 2 pm.

Choose How To Receive The Loan Funds:

  • Direct deposit to your bank account
  • Mailing a check to your address
  • Local pickup at an authorized money transfer outlet
  • Loading funds onto a prepaid debit card

Lender's Tip:

Use funds judiciously, reserving them for emergencies due to high interest rates. Take advantage of the online application's convenience, making the process stress-free.

Manchester Bridge

Manchester Bridge, Richmond, Virginia

Interest Rates and Fees for Virginia Title Loans

In finance, it's crucial to know about interest rates and fees so you can make smart choices.

Below is a table summarizing key information about interest rates and fees for Virginia title loans:

RegulatorState Corporation Commission (SCC)
License RequirementLenders must be licensed by the SCC
Loan AmountUp to 50% of the vehicle's market value
Interest Rate- Capped at 22% per month for the first $700 borrowed.
- For amounts between $701 and $1,400, the rate is 18% per month.
- For sums over $1,400, the rate is 15% per month.
- The maximum rate is 25% per month, equal to an APR of 300%.
Loan DurationBetween 120 days to a year
Early RepaymentAllowed without penalties
RiskVehicle can be repossessed if unable to repay
Average Loan Amount$1,116
Repayment CostApproximately $2,700

Risks and Precautions Associated with Virginia Title Loans

Despite the numerous benefits of title loans, understanding the potential risks and protections is equally important.

Understanding Title Loan Risks in Virginia

  • Car title loans in Virginia are high-interest, short-term financial solutions that can potentially trap borrowers in a cycle of debt if not managed with caution.
  • If payments are missed, lenders have the right to repossess the borrower's vehicle, a process that may be facilitated by GPS tracking devices installed by the lenders.

Protections Under Virginia Law

  • The right to rescind the loan without any penalty by the next business day after signing the loan agreement.
  • Additionally, if a repossessed vehicle is sold, borrowers have the right to receive any surplus from the sale that exceeds the amount owed on the loan.

Exploring Alternative Loan Options

  • Credit union loans
  • Personal loans
  • Employer paycheck advances
  • Seeking help from non-profit organizations

Lender’s Tip:

It’s crucial to weigh the potential risks against the benefits and consider all available options before deciding on an online title loan.

Refinancing Options for Virginia Title Loans

When considering refinancing options for auto title loans in Virginia, borrowers should be aware of specific requirements and protections outlined by state regulations. These regulations ensure fair lending practices and protect borrowers from predatory practices.

The rules, as detailed in § 6.2-2216.2 of the Code of Virginia, outline various conditions that lenders must meet when offering refinanced title loans in the state.

License by the Virginia State Corporation CommissionLenders must hold a valid license issued by the Virginia State Corporation Commission.
Adherence to State Restrictions and LimitationsLenders are obligated to comply with all state laws and regulations governing title loan refinancing.
Refund of Prorated Loan ChargesIf a title loan is prepaid or refinanced, lenders must refund a prorated portion of the loan charges.
Right to Rescind Refinanced LoanBorrowers have the right to cancel a refinanced title loan without cost by repaying the full amount.
Clear Title and Proof of IncomeRefinancing requires a clear title and evidence of income to ensure borrowers' ability to repay.

University of Virginia


In Virginia, car title loans offer a practical financial solution for those with bad credit scores, despite specific regulations. 

Residents can legally access these loans, providing a swift solution for urgent financial needs. Using a car title loan calculator is advised for precise payment estimates. 

If you have any inquiries, our team is ready to assist you online or by phone at 800-700-8900.

Frequently Asked Questions

Does Virginia Allow Title Loans?

Yes, Virginia allows title loans, but there are strict regulations and licensing requirements for title lenders in the state. So, if you're considering an auto title loan in Virginia, make sure to research and understand the regulations in place.

Can I Get a Title Loan Online in VA?

Yes, you can apply for an auto title loan online in Virginia by filling out a pre-approval form on our website. It's quick and convenient.

Can You Get a Car Loan in Virginia?

Yes, you can get a car loan in Virginia from various institutions, including credit unions and licensed businesses. The loan terms are flexible and the process is relatively easy.

What Are The Eligibility Criteria for a Title Loan in Virginia?

The eligibility criteria for a title loan in Virginia include the following:

  • Must be 18 years of age or older
  • Possess a valid government or state-issued photo ID
  • Show proof of residence with a recent utility bill or lease agreement
  • Provide evidence of income, such as recent pay stubs or bank statements
  • Have the vehicle’s title in your name, free of any liens

Is a Bank Account Required for a Title Loan?

No, a bank account is usually not required for a title loan. Many title loan lenders accept alternative forms of payment, such as cash or checks.

However, it's advisable to confirm with each lender as their policies may differ.

What's the Maximum Amount for an Auto Title Loan?

The maximum amount you can receive for a title loan is usually up to $50,000. This sum depends on your vehicle's appraisal and your repayment capability.

Generally, lenders permit borrowers to borrow between 25% and 50% of their car's value.

Can I Apply for a Title Loan in Virginia with Bad Credit?

Absolutely! Even with bad credit history, you can still apply for a car title loan in Virginia.

These loans are secured by your vehicle's title, so lenders are typically less concerned about your poor credit score. Feel free to explore this option if you need financial assistance.

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. 

Skip to content