Advertiser Disclosure

What is a Mississippi Title Loan?

A Mississippi Title Loan is a title loan under the regulatory laws of Mississippi. Title loans are secured by an asset on the part of the borrower (usually a car). This means if the borrower defaults, the lender has the right to possess the asset and sell it to pay off the remaining balance. They tend to be for small amounts (rarely higher than $10,000), and have short payment terms (usually 30 days) and high interest rates. Title lending also has a history of being predatory, to the extent that many states have outlawed it, while others have instilled laws to protect borrowers from being taken advantage of by title lending companies.

Table of Contents

Rates (%)

Title loans tend to feature high-interest rates. Some states have no limits on how high lenders can set rates, while others have imposed limits. In Mississippi, lenders are not allowed to set rates at higher than 25% per month, which equates to an APR of 300%.

Credit Requirements

Obtaining a title loan does not usually require a credit check since the lender is assured by the promise of the borrower’s asset, rather than the likelihood of their being able to afford regular payments. All that is typically required, therefore, is a Lien-free vehicle, a government I.D., and that the borrower is 18 years of age or older.


Mississippi has its own set of laws governing title lending: 75-67-415. – Title loans must be $2,500 or less. 75-67-413. – Interest fees may not be higher than 25% per month. 75-67-413. – Payment terms must be 30 days. 75-67-411. – Borrowers will have 30 days after the maturity period to pay back the loan before their asset is repossessed; and, upon repossession, another three (3) business days to pay off the loan before the asset is sold.

Close Menu