Are car title loans legal in Washington State?

I’m in need of quick cash and I heard that a title loan could be the way to go. I know they’re illegal in some states, but I live in Washington State. Are title loans legal here?

Great question! Title loans are illegal in many states because of their short terms, lump-sum repayments, and the excessively high APR that lead to steep consequences for the borrower. However, in Washington State, title loans are perfectly legal. To qualify, you will need to:
  • Be a resident of Washington State.
  • Have a lien-free title.
  • Have a regular monthly income.
  • Be 18 years of age or older.
While getting a title loan can be a fast and easy way to get money quick, it often comes with harsh consequences such as:
  • Having to pay back two to three times the amount you borrowed.
  • Short terms, which make it incredibly hard to pay back the money on time.
  • Failure to pay back the loan on time will result in vehicle repossession.
If you need a loan or fast cash, consider looking to your bank or credit union. Many offer short-term loans that are similar to title loans but less predatory.
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Chloe Jenkins
Answered on Nov 11, 2021

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