What a title loan costs — before Idaho’s rules
A title loan is usually a single-payment loan due in 15–30 days at around 25% per month — roughly 300% APR — secured by your vehicle. The defining risk is not the rate but the collateral: miss a payment and the lender can repossess the car, and research finds about one in five borrowers eventually loses the vehicle. Where a state caps rates low, single-payment title lending is not offered and a loan above the cap is generally void.
The law in Idaho
- Rate cap
- No statutory rate/APR cap; the Idaho Title Loan Act sets no ceiling on the finance charge, so rates are triple-digit. Loan term capped at 30 days but renewable, with a required 10% principal reduction on later renewals (Idaho Code §§ 28-46-504, 28-46-506).
- Key law
- Idaho Title Loan Act, Idaho Code § 28-46-501 through § 28-46-509.
- Enforcement
- The Idaho Department of Finance, Consumer Finance Bureau, licenses and examines title lenders. Before repossessing on default, a lender must mail a “Notice to Cure Default” giving 10 days to cure (Idaho Code § 28-46-508).
Idaho is one of the states that set no cap on the cost of a car title loan (per the CFA); the Idaho Title Loan Act (Idaho Code § 28-46-501 et seq.) authorizes them without a rate ceiling.
What it means for a Idaho borrower
Idaho fully allows car title loans, and because the state sets no cap on the finance charge, APRs commonly run into the triple digits. Loans are 30-day terms that automatically renew, so a loan can roll over and grow costly if you only pay the finance charge. You do get a next-business-day right to cancel and a 10-day cure notice before repossession.
Before you borrow in Idaho
- Check whether the lender is licensed in Idaho — many high-cost online lenders are not.
- Revoke ACH authorization in writing to stop automatic withdrawals from your account.
- File a complaint with the Idaho attorney general and the CFPB.
- Ask whether the balance is even collectable under Idaho law before you pay a collector.
Cheaper first — try these before a title loan in Idaho
Title Loans and tribal lenders in Idaho
Many online lenders that market title loans to Idaho residents are tribal lenders arguing their sovereignty places them outside state rate caps — a separate legal question this site tracks in depth. For which tribal brands lend to Idaho residents and how state law applies to them, see the Idaho tribal-lending page.
Tribal loans in Idaho →Frequently asked questions
Are title loans legal in Idaho?
In Idaho, single-payment auto title loans are legal and enforceable, commonly around 300% APR, with the car as collateral. The speed is real; so is the repossession risk. Check the total cost and never pledge the car you rely on to get to work.
What is the maximum title loan rate in Idaho?
No statutory rate/APR cap; the Idaho Title Loan Act sets no ceiling on the finance charge, so rates are triple-digit. Loan term capped at 30 days but renewable, with a required 10% principal reduction on later renewals (Idaho Code §§ 28-46-504, 28-46-506).
What can I do about a title loan I already have in Idaho?
Idaho allows this lending, so the loan is generally enforceable — but you can still revoke ACH authorization in writing, avoid taking a second loan to cover the first, and file a complaint with the Idaho attorney general or the CFPB if the lender breaks the rules.