Title Lenders

Sections 367.500-367.533 comprise the title loan law, both for licensing and for substantive provisions such as consumer rights, refunding, etc. Loans made pursuant to this section are secured by titled personal property, primarily automobile titles, but they are different from traditional auto secured loans. Title loans are limited in size, and require principal reductions by the borrower. A lender may not use the title to a mobile home as security for one of these loans. An entity wishing to make title loans must be licensed by the Division of Finance and a loan made under this act is subject to disclosure obligations, term and renewal limits, and various consumer protections such as posted rates and daily interest computations.

The consumer protection provisions of §§408.551-408.562 do apply. Regulations for title loans are found in 20 CSR 1140-29.010.

REMINDER: License renewals are due December 31. Please see the link below for renewal information.

• Licensing application packet
• Laws & Regulations
• Repossession guidelines
• Bond form
• Letter of credit form
• Bond verification form
• Renewal information
• Sample title loan note
• Sample notice of maximum rates charged