Title Loan True Cost & Rollover Calculator

A “25% fee” sounds small for a month. This calculator shows what it means over time: the APR, the total you pay if you renew the loan by paying only the fee, and how much you save by paying the balance down instead.

How the numbers work

• APR is the monthly rate times 12. A 25% monthly fee is a 300% APR. Lenders must show the APR on your loan disclosure under the federal Truth in Lending Act.
• Rolling over means paying only the fee each month and renewing the loan. The balance never goes down, so you pay the fee again and again and still owe the full amount at the end.
• Paying it down spreads the balance and interest over equal monthly payments, using the same formula as our title loan calculator.

Frequently asked questions

Why is the APR so much higher than the fee?

Because the fee is charged every month. Twelve months of a 25% monthly fee adds up to 300% a year.

Does paying early save money?

Usually, because interest and fees stop building. Check your contract for a prepayment penalty and ask the lender for a written payoff amount. See repaying a title loan.

Is rolling over allowed in my state?

States set their own limits on renewals, and some require each renewal to pay down part of the principal. Check your state.