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Best Payday and Title Loan Companies

Profile picture of Lauren Fix
by Lauren Fix Auto & Finance Contributing Editor

Payday and title loans give borrowers quick access to cash for a short time. With a title loan, lenders place a lien on a car owner’s car title in exchange for a loan. Payday loans are shorter term loans in which the lender essentially advances you one paycheck.

Both payday and title loans are meant to be short-term solutions to help consumers get through a short-term financial crisis. Borrowers should carefully consider their options before taking out a loan and make sure they understand fees and repayment terms associated with these loans before signing any paperwork.

Compare Reviews for Top Payday and Title Loan Companies

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Speedy Cash
Read 1490 Reviews

Obtain payday and title loans with maximum amounts that vary by state. Payday loans range from $255-$2,500 and title loans range from $300-$25,000. Check cashing and money orders also available.

CashNetUSA
Read 1986 Reviews

Provides payday loans up to $1,800, which customers can receive the next business day. They also offer brokered installment loans up to $2,400, a savings program and access to free financial tools.

TitleMax
Read 1698 Reviews

Consumers can get approved for car and motorcycle title loans up to $10,000 in about 30 minutes with no prepayment penalty. The company has been in business 15 years, has over 1,000 locations and offers competitive interest rates.

Finova Financial
Read 179 Reviews

Offers title loans with max amounts that vary by state and vehicle make, model, year, and mileage. Max 30% APR. Find fast pre-qualification, same-day approval and easy online and mobile access. Also find prepaid cards here.

Check Into Cash
Read 1967 Reviews

Lender with 25 years in business offers payday loans up to $1,000 and title loans up to $25,000 with easy application process. Consumers can get funds the next business day. Installment loans and lines of credit also available.

LoanMart (formerly 800loanmart.com)
Read 342 Reviews

Provides auto title loans with max amounts that vary by state, vehicle value and ability to repay. Also offers an Emergency Cash option with your auto title of up to $2,500, which is typically available in 24 hours or less.

TMG Loan Processing
Read 76 Reviews

Apply online or by phone for an auto title loan. Max amounts vary by individual and vehicle equity, but could be up to $50,000. Same-day approval possible with funds available the next business day. Also offers business loans.

Advance Financial
Read 39 Reviews

Gives customers access to cash advances through their FLEX loan program up to $4,000 (not available in all states). Features paperless process and same-day or instant funding with bank participation. Also offers free bill pay.

Silver Cloud Financial
Read 20 Reviews

This company offers tribal loans for people who need access to a short-term loan due to an emergency or financial hardship. Loans range from $300-$1,000. Apply online and get your funds the next business day.

Ace Cash Express
Read 378 Reviews

Payday loans in 8 states with max loan amounts $255-$1,500 and title loans in 7 states with max amounts $200-$5,000. Get cash instantly in-store or overnight with online applications. Offers 72-hour guarantee.

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What to consider when choosing a payday and title loan lender

Fees

Lending companies often charge people who take out a title loan additional fees for the loan, which can add up quickly. It’s important to read all the fine print before deciding which payday or title lender to use.  Get multiple quotes before deciding on a lending firm, and ask what additional fees you will be expected to pay.

  • Processing and document fees: Lenders often charge borrowers fees for the paperwork required to get the title or payday loan.
  • Late fees: Lenders frequently charge borrowers a late fee if repayments are late or documents aren’t exchanged on time. Make sure to find out what late fees are and on what date your payment will be considered late.
  • Lien fees: Many lenders charge fees for processing and placing a lien on a car owner’s car. Some lenders only offer lien-free title loans.
  • Roadside assistance program fees: Some lenders offer a roadside assistance program for people who have a title loan, and many companies require this program, charging a fee for it.
  • Finance fee: Payday lenders charge a finance fee upfront, which you include on your post-dated check. If you roll your loan over for an extended period, you will be charged this initial finance fee plus an additional finance fee. The fee will continue to grow until you finally pay off the full amount of the loan.
  • Interest rates: Lenders are required to tell borrowers the exact APR being charged to the loan before the borrower agrees to the terms of the loan.

Extra requirements

All title loan borrowers must repay the amount of money they owe, pay interest, surrender their car title and pay fees. However, some companies have extra requirements when giving out a title loan.

  • GPS tracking: Some lenders require a GPS to be placed in a borrower’s car so they can track where the car is. This box also allows the lender to shut the car off if you fail to pay your monthly payment. This device can locate the vehicle and help the lender reclaim that collateral.
  • Copy of keys: Many borrowers are asked to surrender a copy of their car keys to the lender when they take out a title loan. If you have a wireless key fob, they may hold one of those as collateral.

Qualifications

One benefit of getting a payday or title loan is that you don’t need to have good credit. There are, however, some standard requirements you must meet in order to qualify:

  • Steady income: You don’t necessarily need a job for all lenders (although some do require it), but you need to provide evidence of a steady stream of income in order to qualify for a loan. Without it, lenders have no way to know if you can repay them and are significantly less likely to offer you a loan.
  • Checking account: You need a checking account to write a check for your payday loan, and there are penalties if your check bounces when the lender tries to cash it.
  • Clear title: You will need to provide a clear title when you apply for a title loan that is in your name. A lien release may be required to be presented with the title to process a loan.
  • Proof of address: You will need to provide some valid form of address, such as a recent utility bill or bank statement, for both payday and title loans.
  • Credit rating: The lender will run your credit report to see if the agreement makes financial sense for both parties. Even lenders that offer loans for people with bad credit will usually need to see some credit history. Your loan options and APR may be impacted by your credit score.

Maximum loan amount

Title loans are a quick way to get money, but the amount of money a borrower can access is usually very limited. Lenders often have a strict cap on the amount of money they will lend in exchange for placing a lien on a car.

  • 50 percent of car value: While the maximum loan amount varies, the amount a person can receive for a title loan is never more than half of their car’s value.
  • One paycheck: Payday loans can be for any amount, but they are traditionally only written in the amount of one full paycheck (or less) so borrowers will have the money in their account when their check is cashed.

Length of loan

Title and payday loans are short-term loans, meaning borrowers get the money quickly but also have to pay back the amount they owe with interest in a limited amount of time. The length of time a borrower has to pay back their loan varies from lender to lender, but there are some industry standards.

  • 30 days: A common amount of time allowed for title loan repayment is 30 days. Some lenders may give you another 30 days if you cannot pay on time. To avoid defaulting on a loan, see if a relative or good friend can help with the payments. This allows you additional time to pay your friend back without worrying about losing your car or incurring extra interest fees. If you can’t pay back the loan, or won’t be able to, you may have to look at selling the vehicle or other items you own free and clear.
  • Longer loans: Some lenders will give borrowers a longer time to repay their title loan. Often, these repayments are structured as interest-only payments.
  • Pay period: Payday loans are only for one pay period. You will set up this timetable with your lender, and they will cash your check after you get your next paycheck.

What are different types of payday and title loans?

Traditional title loans

Traditional title loans allow a car owner to get a loan in exchange for having a lien placed on their car by a lender. With a typical title loan, borrowers pay off the entire loan, interest and any fees within a specified amount of time, which is usually 30 days.

Interest-only payment title loans

Title loans with interest-only payments work similarly to traditional title loans, but their repayment strategy is different. With interest-only payments, borrowers first pay off the amount of the interest of the loan. They are then required to pay off the amount of the loan in full. Interest-only title loans usually last for a period of time longer than traditional title loans. It’s best to be careful with interest-only payment options as you may end up paying more than you actually borrowed, and still not pay off the loan.

Traditional payday loans

Traditional payday loans are priced at a fixed dollar fee, which represents the finance charge the borrower will pay. They are meant to be a short-term solution to help consumers get instant cash that they can repay when they get their next paycheck.

Who uses payday or title loans?

Car owners in an unexpected financial emergency

Sometimes financial emergencies just cannot be predicted. People who do not have significant savings and suddenly find themselves in a situation where they need a large amount of cash fast can benefit from taking out a title loan. Title loans are a good short-term solution when money must be borrowed quickly and/or unexpectedly and you have a method to pay it back.

Consumers with unexpected costs

Anyone can find themselves facing an unexpected financial crisis that needs to be paid immediately. Payday and title loans can be good options for people who have a short-term need and can pay their loan back in full within the given time frame.

Expert reviews for payday & title lenders

TMG Loan Processing

Traditional Media Group (TMG) Loan Processing is a free online service that helps consumers qualify for title loans up to $50,000. They offer a fast turnaround time and easy online application so you can quickly access cash when you need it. TMG is not a direct lender, and the company specializes in matching consumers with auto title loan lenders.

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LoanMart (formerly 800loanmart.com)

LoanMart started as a single pawn shop in 1999 in Sherman Oaks, California. Today, the company has branches in California, Illinois and Arizona and services 11 states around the country. They specialize in auto title loans.

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Speedy Cash

The first Speedy Cash store opened in Riverside, California in 1997 by three childhood friends from Wichita, Kansas. The company has since gone global, with operations in the United States, Canada and the U.K. They operate under the name Rapid Cash in Nevada, Washington and Oregon and as Cash Money in Canada. 

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Finova Financial

Finova offers an alternative to title loans by providing qualifying consumers with a Car Equity Line of Credit (C-LOC) as an emergency loan. This gives consumers a reasonable way to get quick access to cash along with access to an ongoing line of credit with declining rates.

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TitleMax

TitleMax was founded in Georgia in 1998 and is now one of the largest title lenders in the United States with more than 1,000 locations in 17 states across the United States. The company offers title loans and title pawns for cars and motorcycles.

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Advance Financial

Headquartered in Nashville, Tennessee, Advance Financial offers check cashing service, bill payment, wire transfers and high interest, short-term FLEX loans. Since 1996, Advance Financial has served the people of the Middle Tennessee area, and the company has expanded its business to offer services to clients in Idaho, Kansas, Utah and Missouri.

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CashNetUSA

CashNetUSA is a payday lender that offers loans to consumers in the United States. It is a part of Enova International, Inc., a publicly-traded company in the financial sector.

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CashCall

CashCall, Inc. is a lender that opened in 2003. CashCall offers personal and business loans via the internet. CashCall has a reputation for having an easy application process, so those who qualify can get their cash fast. Its headquarters are in Orange, California.

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MoneyLend.net

MoneyLend.net does the hard work of researching lenders for consumers to provide them with the most accurate information they need to compare interest rates, types of lenders, fees and more. MoneyLend is able to match consumers to the best lender for them in all 50 states. Their lenders offer short-term and installment loans, and many have low APRs. They have information for those needing personal or business loans.

  • State licensed lenders: All of the lenders that work with MoneyLend are state licensed, so you can rest assured they will meet all legal requirements.
  • Easy comparison: The company shows potential borrowers their loan options in a chart, which allows for easy comparison.
  • Educational info: MoneyLend has a helpful blog and financial educational information on their site to help customers make better financial decisions.
  • Loan calculator: Figure out how much you can expect to pay on your loan by using MoneyLend’s online loan calculator. Simply input the loan amount interest rate and length of the loan for an accurate calculation of your monthly payment and the total amount of interest you will pay.
  • Flexible loan amounts: Loans are available for $100 to over $30,000.
  • Easy to search: Searching for a lender is easy on MoneyLend. Input the total amount you want to borrow and your state. Browse through the list of lenders in your state to find the one that best suits your needs.
  • Best for: people with unexpected life or emergency costs and people who need a personal loan.
Silver Cloud Financial

Silver Cloud Financial can provide you with a short-term loan to cover expenses in the event of an emergency or financial hardship. Apply online to get fast approval and funding on the next business day.

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Approved Cash Advance

Approved Cash Advance was founded in 2004 and has 186 locations in six states. They offer a variety of short-term lending and financial services, including payday loans, cash checking, prepaid debit cards and title loans.

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Compare Reviews for Top Payday and Title Loan Companies

Advance America Cash Advance
Read 303 Reviews

Supplies both payday and title loans online or at over 2,000 store locations. Amounts vary by state and vehicle specifics. Max payday loans range $100-$1,100 and max title loans range $300-$10,000.

Cash Advance USA
Read 236 Reviews

Get payday loans up to $2,500 with an approved online application. Offers instant approval and fast cash options with no credit check required. Free financial education also available on the company’s website.

Check 'n Go
Read 178 Reviews

Supplies payday loans and installment loans in 17 states that are typically available the next business day. Max payday loan amounts vary by state and range from $50-$1,500.

Amscot - The Money Superstore
Read 28 Reviews

Find simple payday loans up to $500 with no credit check and possible same-day funds access. Other services include check cashing, prepaid MasterCards, bill pay services, free money orders and a free budgeting guide.

PLS Payday Loan Store
Read 86 Reviews

This company no longer services loans. They offer other services, including check cashing, money order, bill pay and prepaid cards and phones.

MyCashNow.com
Read 79 Reviews

Offers paperless application process available 24/7 online for payday advances between $100 and $5,000. Funds may be available as soon as the next business day.

Approved Cash Advance
Read 13 Reviews

Offers payday and title loans with immediate access to cash in store locations in Alabama, Michigan, Oklahoma, Louisiana, Mississippi, South Carolina and Virginia. Payday loans range $50-$500. Title loans range $100-$5,000.

Allied Cash Advance
Read 42 Reviews

Get payday advances in-store or with an online application in 5 states. Max loan amounts vary by state and range from $50-$1,500. Get instant access to funds in-store or next business day with online approval.

Money Mart
Read 72 Reviews

Offers in-store payday loans in 10 states and online loans in Hawaii, California, Louisiana and Kansas. Max loan amounts range from $255-$700 depending on the state. Approved in-store applicants can get funds within one hour.

AmeriCash Loans
Read 13 Reviews

Supplies cash advances via installment loans up to $4,000 in 12 states, either online or in-store. Max amount varies by state. The money is deposited through a secure transfer, usually within 24 hours.

Money Mutual
Read 37 Reviews

Connects consumers with lenders for payday loans up to $2,500, which may be available via direct deposit within 24 hours. Features a fast application process. Customers may get the lender’s decision within minutes.

One Click Cash
Read 243 Reviews

Customers can get access to cash advances via short term loans with an easy online application available at any time. Applications approved before 2:30 pm CMT will receive the funds the following business day.

California Check Cashing Stores
Read 22 Reviews

Loan products and max amounts vary by state. Choose your state to see whether payday or title loans or both are available. Over 500 locations available nationwide with online applications accepted in some states.

Fast Cash
Read 203 Reviews

Connects loan seekers with lenders offering payday advances up to $1,000. Apply using a secure online process. Funds are typically available the next business day. Free financial education is also available on the website.

500FastCash
Read 22 Reviews

Provides short term loans with flexible repayment terms and an easy online process. Individual applicant factors determine max loan amounts. Customers approved before 2:30pm CST, will have the money the next business day.

Broad Street Auto Loans
Read 16 Reviews

Serves California residents with auto title loans with max amounts based on applicant and vehicle specifics. Offers fast, easy online application process, and if approved customers may have funds within hours.

Cash Today Ltd.
Read 39 Reviews

Licensed credit provider supplies payday loans to Australian residents. Apply online and funds may be available the following business day by direct transfer. Approved loan amounts vary by applicant.

Cashland Financial Services
Read Reviews

Serves customers in Ohio and Indiana at over 130 locations. Offers payday loans from $100-$1,140 in Ohio and $100-$605 in Indiana. Title loans from $500 to $1,500. Check cashing and gold buying at some locations.

EZPayDayCash.com
Read 9 Reviews

Easy online and mobile process. Payday loans up to $500 for first time borrowers and up to $1,000 for repeat customers. Cash advances available in as little as one hour (next business day for weekend transactions).

Fast Access Finance
Read 5 Reviews

Offers borrowers in Ontario, Saskatchewan and Alberta, Canada vehicle title loans of up to $10,000 CAD. Applications can be done online with approval within 24 hours and funds available within two business days.

Magnum Cash Advance
Read 12 Reviews

Gives payday loans of $100 to $1,000, with max amounts dependent on state of residence. Offers an easy paperless application process and quick loan decisions. If approved, funds may be available in as little as one hour.

MyPayDayLoan.com
Read 23 Reviews

Apply online for payday advances between $200 and $700 for first time customers. Repeat customers may be eligible for advances up to $1,000. Applications approved by 6:00pm EST receive funds the following business day.

MoneyLend.net
Read Expert Review

Refers borrowers to providers for payday loans and lets you compare different options at a glance. Loan amounts vary by state and applicant credit score. Can also connect customers with lenders for business loans and more.

Instant Cash USA
Read 90 Reviews
Out of Business

This company has gone out of business.

Cash Direct Express
Read 62 Reviews
Out of Business

This company has gone out of business.

Just Military Loans
Read 18 Reviews
Out of Business

This company is no longer entering into new loan agreements. It has partnered with Monterey Financial to service loans.

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Profile picture of Lauren Fix
Lauren Fix Auto & Finance Contributing Editor

Lauren Fix, also called The Car Coach, is an automotive and auto finance expert. Her understanding of vehicles has made her the “go to” person on TV, radio, print media and the Internet. She has authored multiple books and writes a column for several outlets, including Parade Magazine, NewsMax and Car Coach Reports. She is a regular guest on major news and morning shows, discussing the latest updates on cars and car financing that will help drivers make smart decisions when buying, maintaining and financing cars.