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Find the Best Payday and Title Loans in Richmond, VA

If you have a temporary cash flow problem or find yourself in a financial emergency, you might consider a payday loan or title loan. The Richmond Times-Dispatch has partnered with ConsumerAffairs to create this guide by comparing customer reviews, loan amounts and local availability of more than 25 businesses and choosing five favorites from the top payday and title companies in Richmond.

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Compare Richmond Payday and Title Loan Companies

Payday lending is illegal and unavailable to consumers in some states. Payday loans usually have very high interest rates and carry risk. As with any loan, consumers should have a clear understanding of the fees, terms and conditions of any payday loan before borrowing.

How to find a payday or title loan company in Richmond

richmond skyline

When shopping for payday and title loans, Richmond residents should only consider working with payday lenders and motor vehicle title lenders licensed with the State Corporation Commission. Look for companies with good customer reviews regarding the application, fees, ease of making repayment and customer service.

Read over borrower requirements before applying. Neither payday loans nor title loans require good credit to qualify. For a payday loan, you usually need government-issued photo ID, an active checking account, a working phone number or email address, and proof of income. A title loan has the same requirements, plus a vehicle and clear vehicle title in your name.

When choosing a payday or title loan company, you can compare these loan features:

  • Amount of the loan you qualify for
  • How fast the funds are available
  • The length of the loan
  • The total of all fees
  • The annual percentage rate (APR) of the loan

It’s important to remember that payday loans and title loans are meant to be short-term solutions, and that you should only borrow what you can afford to repay. Even after you sign a written agreement for a payday loan or title loan in Virginia, you have the right to cancel the loan by the close of business on the next business day by paying back the amount you borrowed.

Payday loan costs in Richmond

Virginia payday lenders can charge an annual interest rate up to 36%, a loan fee up to 20% of the loan amount and a verification fee up to $5. The maximum amount you can borrow with a payday loan in Virginia is $500. The term of your loan must be at least twice as long as your pay cycle. This means that if you are paid weekly, the minimum loan term on your payday loan is 14 days.

Here’s an example: If you borrow $300 for 31 days, the lender can charge you up to $9.17 in interest, a loan fee up to $60 and a verification fee up to $5. The maximum amount you pay in fees is $74.17, which amounts to an APR of 291%. If your lender charges this amount, you write a check to the lender for $374.17, and the lender gives you $300. The lender agrees not to deposit the check for 30 days.

Title loans in Richmond

If you need more than the maximum $500 of a payday loan in Richmond and you own a vehicle with a clear title in your name, a title loan can be a good alternative. Title loans are secured loans that use your vehicle as collateral, so if you don’t repay, the lender may take possession of and sell your car or truck.

The maximum amount of a title loan in Virginia is 50% of the fair market value of your vehicle. Title loans can last from 120 days to one year. Title lenders in Virginia can charge 22% per month on the outstanding principal balance up to $700, 18% per month on the amount of the outstanding principal balance between $700.01 and $1,400 and 15% per month on any outstanding principal balance above $1,400. Title lenders can also charge you the cost to record the lien with the state where your vehicle is registered. In addition, they can charge a late fee up to 5% of the payment amount if you are more than seven days late on a payment.

If you default on a title loan and the lender takes your vehicle, it must notify you by writing at least 15 days before any sale. You can get your vehicle back anytime before the sale by paying back the lender. If the sale goes forward, you are entitled within 30 days to any funds beyond the amount due to the lender.

Richmond payday and title loans FAQ

Do payday loans hurt your credit?

In general, payday lenders do not conduct a credit check with the major credit agencies and do not report your loan. If you don’t pay back the loan and the lender hands over your debt to a debt collector, the debt collector could report your information to a credit bureau, which could hurt your credit.

Can you go to jail for not paying back a payday loan?

No, you cannot go to jail for not paying back a payday loan.

Can you get denied a payday loan?

Yes, you can get denied a payday loan. Two reasons you may be denied a payday loan in Richmond are if you can’t show proof of stable income or you already have an outstanding payday loan.

How much can I borrow with a payday loan?

The maximum amount you can borrow with a payday loan in Virginia is $500. A lender determines how much you can borrow based on your income.

Can you have two payday loans?

No, in Virginia you can only have one payday loan at a time.

How much can you get for a title loan?

In Virginia, title lenders can lend up to 50% of the fair market value of the borrower’s vehicle.

Richmond payday and title loan company information


TitleMax offers car and motorcycle title loans at multiple locations in Richmond. It welcomes all credit scores, gives quick approval and provides same-day cash in around 30 minutes. TitleMax accepts all makes and models and doesn’t require you to have a bank account. The company has a location at 4711 W. Broad St., Richmond, VA 23230.

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CashNetUSA is an online company that offers lines of credit for Richmond customers. Apply online in just minutes and get an instant decision. If you’re approved, you can make as many withdrawals as you want up to your credit limit, then repay over time. CashNetUSA has helped over 3 million customers. Its customer service team is available 24/7.

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Check City

Check City offers cash advances and title loans in Richmond with same-day cash. The company has five locations in the Richmond area, including two that are open on Sundays. The Midtown location is at 2729-B W. Broad St., Richmond, VA 23220.

Check City

Fast Auto Loans, Inc.

Fast Auto Loans, Inc. offers title loans up to $15,000. The company welcomes applicants of all credit types and owners of all makes, models and years of vehicles. Start by filling out an online request form, and a store representative will call to go over the process and answer questions. Fast Auto Loans, Inc. has a location at 6150 Midlothian Turnpike, Richmond, VA 23225.

Fast Auto Loans, Inc.

Allied Cash Advance

Allied Cash Advance offers lines of credit from $250 to $1,500 at its four Richmond locations. Customers can borrow up to their credit limit and pay the money back over time. Start your application online. A valid photo ID, proof of active checking account, proof of income and working phone number are required.

Allied Cash Advance