Tennessee 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: |
Tennessee
Permit TN Title Pledge Act (§ 45-15-101 to § 45-15-120) $2,500 1/5 loan + 2%/months 30 days, may automatically renew; on 3rd renewal pay 5% of original principal amt. plus int. and fees $110/264% APR 20 days No deficiency balance, borrower gets surplus No waiver of rights, no loan on encumbered title, no insurance Clear title required |