Alabama Loans – Online Payday Loans in Alabama

Q: What is a title loan?

Title loans in Alabama allow you to borrow money using your vehicle as collateral . It’s easy to get fast cash when you have a clear car title, and the approval process is quick and easy .

The Best Loans in Alabama 2024: Compare Loan Rates

Written by: Joe Chappius

Last updated: December 26, 2023

Financer.com helps you compare online loan rates in Alabama. Compare different loan options in Alabama and read more about the payday loan laws in the state.

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Compare Loans in Alabama for April 2024

Borrow $1,000 for a period of 6 Months.

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Amount: $1,000 | Period: 6 Months

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recommended

Chosen 5,757 times

4.9

Read 11 reviews

recommended

Chosen 5,757 times

Loan amount

$1,000

APR:

5.99% - 35.99%

Total Payment

$1,017.57

for 6 months

Monthly payback

$169.60

for 6 months

4.9

Read 11 reviews

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$50,000

Estimated Payback

13/10/2024

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11 Reviews

4.9

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Chosen 92,619 times

3.7

Read 36 reviews

Chosen 92,619 times

Loan amount

$1,000

APR:

5.99% - 35.99%

Total Payment

$1,017.57

for 6 months

Monthly payback

$169.60

for 6 months

3.7

Read 36 reviews

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Borrow up to

$10,000

Estimated Payback

13/10/2024

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36 Reviews

3.7

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recommended

Chosen 33,148 times

4.9

Read 17 reviews

recommended

Chosen 33,148 times

Loan amount

$1,000

APR:

5.99% - 35.99%

Total Payment

$1,017.57

for 6 months

Monthly payback

$169.60

for 6 months

4.9

Read 17 reviews

Open right now

Get Started

Customer Type

All

Borrow up to

$35,000

Estimated Payback

13/10/2024

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Age

17 Reviews

4.9

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View Company Profile

Chosen 27,204 times

4.0

Read 25 reviews

Chosen 27,204 times

Loan amount

$1,000

APR:

5.99% - 35.99%

Total Payment

$1,017.57

for 6 months

Monthly payback

$169.60

for 6 months

4.0

Read 25 reviews

Open right now

Lowest cost

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Customer Type

All

Borrow up to

$10,000

Estimated Payback

13/10/2024

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25 Reviews

4.0

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recommended

Chosen 6,677 times

5.0

Read 4 reviews

recommended

Chosen 6,677 times

Loan amount

$1,000

APR:

5.99% - 35.99%

Total Payment

$1,017.57

for 6 months

Monthly payback

$169.60

for 6 months

5.0

Read 4 reviews

Open right now

Get Started

Customer Type

All

Borrow up to

$35,000

Estimated Payback

13/10/2024

Weekend Payout

Age

4 Reviews

5.0

Interest & Costs

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View Company Profile

Important

Please note that loan amounts, interest rates and other loan terms may vary according to your state and credit profile.

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How To Compare Loans in Alabama

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Best Rated Personal Loans

5.0

Based on 4 reviews

5.0

Based on 4 reviews

5.0

Based on 14 reviews

4.9

Based on 7 reviews

4.9

Based on 12 reviews

4.9

Based on 17 reviews

4.9

Based on 8 reviews

4.8

Based on 5 reviews

4.8

Based on 4 reviews

4.7

Based on 3 reviews

Alabama Title Loans

By comparing lenders online, you can apply for title loans in Alabama to get a cash loan against your car's title.

Obtaining a title loan in Alabama is fairly easy and the entire process can take less than an hour. The lender will evaluate your needs and budget, and do a quick assessment of your vehicle. Once you've reviewed the terms and signed the paperwork, the money will be paid out to you.

In addition to comparing payday loans online in Alabama, you can compare lenders to find the best Alabama title loans with Financer.com.

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Interests Loan amount Loan term

Alabama Payday Loan Regulations

Legal Status	Legal
Interest Rate (APR)	Can exceed 400%
Max. Loan Amount	$500
Min. Loan Term	10 days
Max. Loan Term	31 days
Number of Rollovers	1
Cooling-off Period	Next business day after repayment
Installment	Yes

Updated March 18 2022

Alabama was one of the first states to start legislating small loans although most measures were scrapped later.

The maximum loan amount is $500.
The loan repayment period must be between 10 and 31 days.
Only check-cashing companies are allowed to give small loans.
A borrower can only have one payday loan at a time.
If a borrower fails to repay a loan on time, he is allowed one rollover.

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Alabama Payday Loan Laws

Are you a resident of Alabama and would like to know more about your lending options? Learn how the legislation approved by the Alabama Senate in 2016 could affect you as a borrower.

The legislation regulated the interest a lender can charge by extending the repayment term from 30 days to 6 months. This was a sigh of relief to many borrowers as this allows for a longer repayment term.

There are approximately 400,000 residents who use Alabama payday loans and often apply online for quick cash advances.

Payday Loan Eligibility in Alabama

To be eligible for a payday loan in Alabama, borrowers must:

Be at least 18 years old.
Be a U.S. citizen or a permanent resident.
Have a steady source of income.

At the time of application, borrowers need to provide their name, Social Security number, and contact details. Other lenders will also need details regarding your employment and income.

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Compare Online Loans in Alabama

Compare lenders and loan rates and apply for an Alabama loan online. With Financer.com you can:

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Why Compare with Financer.com

Financer.com helps you compare the best personal loans in Alabama and get the lowest personal loan rates from leading U.S. lenders.

Our online loan comparison is fast, easy, and completely free. Best of all, you can pre-qualify without hurting your credit score.

Use Financer.com's free loan comparison tool and take the guesswork out of finding the best personal loan for your needs.

Alabama Loans FAQs

What is a title loan?

Title loans in Alabama allow you to borrow money using your vehicle as collateral. It’s easy to get fast cash when you have a clear car title, and the approval process is quick and easy.

How do I know if my vehicle’s title is free and clear?

A car title that is free and clear will say 'No Liens' on it and have no one listed as a 'Lienholder'. If you want to confirm you can phone the company that originally issued the car loan.

How much can I borrow with an Alabama title loan?

The total you can borrow depends on the value of your vehicle and your ability to repay. Loan amounts can also vary by state and usually range between $100 to $10,000.

Can a personal loan improve my credit score?

Taking out an Alabama installment loan from a trusted lender and making on-time payments could help improve your credit score. Your loan repayments are typically reported to one or more of the major credit bureaus - such as TransUnion or Experian - and as a result, it could improve your credit history and increase your credit scores.

How much do online payday loans in Alabama cost?

The cost for online payday loans in Alabama will vary by lender. However, the maximum APR allowed in Alabama is 456.25%. This can often include fees plus the interest rate. According to Alabama legislation, lenders may charge a maximum finance charge of 17.5% of the total loan amount.

Example: A $500 loan for 31 days with a 210% APR will have a total of $88 in fees, with a total payback amount of $588.