Tennessee Title Loans

If you need cash fast, Tennessee title loans are one option to consider. These financial loans are based on the value of your car, and you keep your vehicle throughout the term of the loan. However, borrowers must meet certain requirements to qualify for a title loan in Tennessee, including being able to prove their income and providing a clear, lien-free vehicle title.

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Generally, you can get the funds you need within one business day after qualifying for a title loan. Your lender will wire the money directly to your bank account, but some lenders also allow you to pick up a money order or prepaid card with the cash. Then, you can use the money however you wish. Some borrowers in Tennessee choose to pay off other debts, while others put the money towards groceries and utilities.

The title loan process in Tennessee is regulated by the Tennessee Title Pledge Act, which sets forth rules and regulations for title loan companies. These laws cover aspects like licensing, interest rates, lending practices, and disclosure requirements.

When you apply for a Tennessee title loan, your lender will need to evaluate the condition of your vehicle. This will include examining the vehicle for signs of damage and assessing its overall value. If you’re not able to bring your vehicle in for an inspection, some lenders offer virtual inspections online.

If you default on your Tennessee title loan, your lender has the right to repossess your vehicle. The state’s repossession law requires that your lender retain the vehicle for 20 days after a default, in order to give you time to pay back your debt and regain possession of your vehicle.

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