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