A map from April 2015 Notes: Lump-sum loans require a balloon payment, typically after one month; installment loans are repaid in smaller payments over time. All title loan states, except for Arizona, Georgia, and New Hampshire, also have payday lending. In some states, not indicated here, consumer installment lenders offer underwritten loans collateralized by a car title. Sources: Pew’s analysis of states’ lending statutes and existing lender practices © 2015 The Pew Charitable Trusts Map 1 Auto Title Lenders Operate in 25 States Types of title loans offered, by state HI DC AZ NM ND MT WY ID UT OR WA NV IA MN TN KY OH PA IN LA MS GA NC VA SC IL FL AL WI AK CA TX OK KS NE CO MO AR NY ME WV SD MI Lump-sum Installment Both Title loans not offered A Map From Auto Title Loans: Market Practices and Borrowers’ Experiences The small-dollar loans project’s report, Auto Title Loans: Market Practices and Borrowers’ Experiences, explores the high-interest auto title loan market, in which consumers borrow against their cars. More than 2 million people, approximately 1 percent of American adults, use these loans each year. Are auto title loans available in your state? Check out our map above to find out. The Pew Charitable Trusts is driven by the power of knowledge to solve today’s most challenging problems. Pew applies a rigorous, analytical approach to improve public policy, inform the public, and invigorate civic life. Contact: Mark Wolff, communications director Email: mwolff@pewtrusts.org Phone: 202-540-6390 Project website: pewtrusts.org/small-loans
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A map from April 2015
Notes: Lump-sum loans require a balloon payment, typically after one month; installment loans are repaid in smaller payments over time. All title loan states, except for Arizona, Georgia, and New Hampshire, also have payday lending. In some states, not indicated here, consumer installment lenders offer underwritten loans collateralized by a car title.
Sources: Pew’s analysis of states’ lending statutes and existing lender practices
© 2015 The Pew Charitable Trusts
Map 1
Auto Title Lenders Operate in 25 StatesTypes of title loans offered, by state
HI
Lump-sum Installment Both Title loans not o ered
DC
AZ NM
NDMT
WY
ID
UT
OR
WA
NV
IA
MN
TN
KY
OHPA
IN
LA
MS GA
NC
VA
SC
IL
FL
AL
WI
AK
CA
TX
OK
KS
NE
COMO
AR
NY
ME
WV
SDMI
HI
Lump-sum Installment Both Title loans not o ered
DC
AZ NM
NDMT
WY
ID
UT
OR
WA
NV
IA
MN
TN
KY
OHPA
IN
LA
MS GA
NC
VA
SC
IL
FL
AL
WI
AK
CA
TX
OK
KS
NE
COMO
AR
NY
ME
WV
SDMI
A Map From Auto Title Loans: Market Practices and Borrowers’ Experiences
The small-dollar loans project’s report, Auto Title Loans: Market Practices and Borrowers’ Experiences, explores the high-interest auto title loan market, in which consumers borrow against their cars. More than 2 million people, approximately 1 percent of American adults, use these loans each year.
Are auto title loans available in your state? Check out our map above to find out.
The Pew Charitable Trusts is driven by the power of knowledge to solve today’s most challenging problems. Pew applies a rigorous, analytical approach to improve public policy, inform the public, and invigorate civic life.
Contact: Mark Wolff, communications director Email: [email protected] Phone: 202-540-6390 Project website: pewtrusts.org/small-loans
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