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Can I Get a Car Title Loan in Mississippi?

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Can I Get a Car Title Loan in Mississippi?

November 2, 2018

If a resident in Mississippi needs access to a large amount of money in a short amount of time, they may be thinking about obtaining a car title loan. Car title loans are available in the state of Mississippi for residents- which is good news for people who need funding. For those thinking about obtaining a car title loan, it may be helpful to know what documents they need, how the process works in Mississippi, and where to find lenders in Mississippi.

What Do I Need to Apply for a Car Title Loan in Mississippi?

To obtain a car title loan in the state of Mississippi, a person will need the following:

  • A government-issued photo I.D.
  • Proof of both income and residence
  • A title to a qualifying vehicle in your name
  • Pictures of your vehicle

How Do Car Title Loans Work in Mississippi?

The rules and regulations around car title loans vary from state to state and Mississippi is no exception to that. Here are a few unique rules that encompass car title loans in a handful of states, and in the state of Mississippi:

A Cap for Interest on Car Title Loans in Mississippi

There are few states that allow a car title loan lender to charge as much interest as they see fit. Mississippi is not one of them. There is an interest cap of 300%, which although could be higher in other states, is still a very high amount.

As a borrower, it is extremely important to keep interest in mind when looking at  potential lenders, and before signing anything contractual.

A Cap on the Car Title Loan Amount in Mississippi

For many people, a car title loan is pursued for the reason of obtaining quick emergency money. In many states, including Mississippi, there is a maximum amount of money a lender can give out. The maximum amount that a borrower may obtain with a car title loan in Mississippi is $2,500.

Individuals who pursued a car title loan with the hope of obtaining a sizable loan amount may want to supplement this type of loan with another loan or find additional funding.

No Rollovers on Car Title Loans in Mississippi

A rollover in the title loan industry is when a lender allows for an extension of the payment date- for a fee plus interest. In Mississippi, this privilege is not permitted by lending laws. So before taking out a loan in the state of Mississippi, it is important to review the monthly payment and the interest to make sure it is affordable.

Repossession Laws on Car Title Loans in Mississippi

No matter what state a person obtains a title loan in, if the loan defaults, or if the contract is broken, the lender has the right to repossess the vehicle. The only aspect that differs from state to state is the repossession process that both lenders and borrowers go through.

In Mississippi, as soon as a loan defaults, borrowers have 30 days to catch up on their car title loan payments. Once those 30 days are over, lenders have the right to repossess the vehicle without notice. Once they have the vehicle in their possession, they will send a letter of notice to the borrower stating they have three days to make the payment.

The notice will also have information regarding a potential sale of the vehicle if the payment is not made.

One unique thing to Mississippi is that if lenders do sell their borrower’s vehicle, and there is still an outstanding balance for the loan, the lender cannot bill the borrower for the remaining balance.

Where Can I Obtain a Car Title Loan in Mississippi?

There are many car title loan lenders in Mississippi, and it may be difficult to pick between them all. Max Cash Title Loans is a free service that connects customers with reliable title loan lenders across the U.S. We have built relationships with reputable lenders throughout the nation, including the state of Mississippi. To get started with us, contact our loan processing team via phone 855-561-5626 or email us at

If a resident of Mississippi is looking to obtain a car title loan, they may be curious about what they need and how it works. Additionally, it may be helpful to know about the different title loan laws in Mississippi.

There are several lenders in Mississippi. Before choosing one it is important to look at their reputability and details of their contract.

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