Mississippi State AutoTitle Loan Regulation

States that permit car-title lending as of December 2012

State:

Status:

Citation:

Max Loan:

Cost Limits:

NSF/Fees:

Term Limits:

Cost $500:

Sale/LeaseBack?:

Repo Terms:

Right to Cure:

Surplus/Deficiency:

Prohibited Practices:

Title Required:

Mississippi

Permit

Title Pledge Act (Miss. Code §§ 75-67-401 to -449) 

$2,500

25%/mon.

Sales fee

30 days, may renew if pay 10%. 

$125/300% APR 





30 days after loan maturity date; or 3 days after repossession. Repo w/o judicial process. If salvage, can sell immediately. 

Borrower gets 85% of surplus, no deficiency 

Can't pay off loan with another title loan, loan exceeds $2,500.00; sell insurance 

Title or add lender as lien holder to title