Best Title Loan Companies in
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Missouri is a state that sits at the intersection of the midwest and the south. Within its borders, you’ll find beautiful natural sceneries, characterized by the Ozark Mountains, as well as booming metropolitan cities, such as Kansas City and St. Louis.
Missouri is also known for having a very affordable standard of living. According to the Missouri Economic Research and Information Center (MERIC), Missouri had the 8th lowest cost of living in the US in Q2 of 2021. Overall, Missouri had a composite cost of living index of 90.1, which sits comfortably below the national average of 100.
The cost of living across different Missouri cities varies as well, but not by too much. According to MERIC:
- The two most populous cities in Missouri--Kansas City and St. Louis--had cost of living indices of 94.7 and 87.9, respectively. These are considered extremely affordable among larger US cities, especially since the Federal Reserve Bank of St. Louis reports that the average St. Louis resident’s income is $9,000 higher than the national average.
- The city with the lowest cost of living is Joplin, at 82.6.
- The state’s capital, Jefferson City, has an index of 90.7.
Despite lower-than-average cost of living indices across the board, Missouri residents should still be aware that emergency expenses can come up at any time. These can come in the form of an upcoming rent payment or sudden car repair bill.
In these cases, it may be wise to turn to title loans, especially if you have a poor credit score. Title loans are effective short-term credit solutions that can help cover your bills until your next paycheck.
In Missouri, there are many title loan companies to choose from. In this post, we’ve narrowed them down to the 10 best companies with proven track records of helping Missouri residents in need.
Are Title Loans Legal in Missouri?
Yes, title loans are legal in Missouri. The Missouri Division of Finance contains a good overview of the laws governing title loans in the state. Specific title loan legislation is written in 20 CSR 1140-29.010. Here are the main points to watch out for:
- All title loan companies must be licensed by the Missouri Division of Finance.
- In Missouri, you pay no interest if you repay the entirety of your loan before the end of the next business day after you sign your loan contract. This is essentially a 24-hour free cancellation policy that applies to all title loan lenders in the state.
- There is no limit on the interest rate on loans in Missouri.
Unfortunately, the last point has given rise to sky-high APRs on title loans in Missouri, with many of them above 25% monthly interest (300% APR). Always review the interest rate before signing any contract to make sure you’re able to repay the loan.
How Do Title Loans Work in Missouri?
Obtaining a title loan in Missouri is generally very easy, and involves the following five steps.
- Prepare your documents. All companies will require that you bring a clear copy of your photo ID and car title. Many companies will also want proof of income (paystub), proof of residency (utility bill), and car insurance information.
- Fill out an application, in person or online. Next, fill out a title loan application online or at one of the company’s physical locations. The application can usually be completed within 5 to 10 minutes. You’ll need to provide basic information about yourself and your car.
- Receive and review your loan terms. Most of the time, your application should be accepted. A representative will offer you a loan contract. Spend some time to carefully review the terms.
- Accept or decline the offer. If you can afford the interest rate, feel free to sign and accept the offer. Otherwise, you can decline and restart the process with another title loan company.
- Get your funds. After accepting your offer, you’ll receive your funds. Be sure to prioritize repaying the loan on-time and in-full.
Best Instant Title Loans in Missouri
Among all the title loan companies in Missouri, two of them stand out in particular. Max Cash Title Loans and LoanMart are two great companies to begin your title loan search, for reasons we’ll discuss below.
Max Cash Title Loans
It’s easy to see why Max Cash Title Loans is our top recommendation for title loans in Missouri. Having serviced over 1 million happy customers since their founding, Max Cash offers top-notch title loan and loan refinance services.
Max Cash’s approach is quite different from traditional title loan companies. Instead of acting as a direct lender, they provide a platform that matches you with one of their partner lenders. Essentially, Max Cash is the middleman that does all the work of finding a title loan for you.
This model helps you maximize your chances of getting a loan due to Max Cash’s wide network of partners. In addition, you may be able to compare rates from different lenders, which gives you more negotiating power. Above all, Max Cash is free to use, so there’s no reason not to try them out.
Here are all the reasons we like Max Cash:
- It’s Free
- Quick and Easy Online Application
- Biggest Network of Title Loan Lenders
- Transparent About Rates and Services
- Fair Evaluation of Car Value
- Ability To Compare Interest Rates and Loan Amounts
- Protects Your Personal Information
- Top-Tier Customer Service
- Bank Account Not Required
For more details, read our Ultimate Max Cash Title Loans review.
As an alternative to Max Cash, we also highly recommend LoanMart to Missouri residents. They also have an excellent track record, having helped over 250,000 customers to date.
LoanMart is a direct title loan lender. Compared to Max Cash, this means you’ll likely secure a title loan faster with LoanMart since you eliminate the middleman. However, you might also lose some flexibility and negotiating power since you won’t have multiple lenders to choose from.
Thus, LoanMart is the superior option if you’re pressed for time and need money fast. One other important feature that LoanMart offers is their “Three Day Peace of Mind Guarantee.” While Missouri law allows you to repay your loan at no additional interest within 24 hours, LoanMart extends this to 72 hours for free.
Here are all the reasons we like LoanMart:
- Three Day Peace of Mind Guarantee
- Excellent Customer Service Support
- Dedicated to Financial Education
- Protects Your Personal Information
- Competitive Rates
- Secure Funds Quickly
- Multiple Loan Options
Top 8 Local Missouri Title Loan Companies
Max Cash and LoanMart are national title loan providers that make it easy to obtain a title loan online. If you prefer to choose a more local option in-state, here are 8 other local Missouri title loan companies to consider.
American Title Loans
American Title Loans began in Utah in 2006. Since then, they have expanded to offer competitive title loans in six states, including Missouri. Their location in Joplin is one of the most highly-rated in the state, with an average rating of 4.9 out of 5 among 411 Google reviews.
With American Title Loans, you could obtain a title loan in as little as 30 minutes. They are truly committed to offering you the best rate on your title loan, as promised by their Low Rate Guarantee: if you find a lower rate from a local competitor, they’ll automatically match your rate and offer you a $25 gift card.
- Address: 1036 S Rangeline Rd, Joplin, MO 64801
- Phone: (417) 708-0227
Check Into Cash
Since 1993, Check Into Cash’s mission has been to provide people with ready access to short-term credit solutions. Their local Blue Springs location has been in business since 2005, and has a perfect 5 out of 5 rating on Google among 132 reviews.
At Check Into Cash, Missouri residents can get a title loan for up to $25,000. One of their biggest competitive advantages is their focus on financial education, which is always a sign of a good title loan company. Their blog features a bunch of financial resources on everything from title loans to how to set a budget.
- Address: 800 MO-7, Blue Springs, MO 64014
- Phone: (816) 220-0650
LendNation has a smaller presence in Missouri, but is still a very popular option among locals. Their Warrensburg office has a perfect 5 out of 5 rating on Google among 58 reviews.
LendNation understands that not everyone’s credit situation may be working in their favor. Even if you have poor credit, LendNation will put their utmost effort into finding a loan that works for you. To receive your funds, LendNation offers a convenient Instant Debit Card Funding option, which you can get on the same day in-store.
- Address: 120 Cooper Blvd Ste A, Warrensburg, MO 64093
- Phone: (660) 429-2500
Mid-American Title Loans
Mid-American Title Loans is the definition of a local title loan company, as they’re dedicated to Missouri residents only. They have 18 locations scattered across the state, and their Rolla location has an average rating of 4.9 out of 5 among 217 Google reviews.
In as little as 20 minutes, you could walk out with up to $10,000 in a title loan with Mid-American. You can get started online immediately, though you’ll have to visit a physical location to finish the loan process. It doesn’t matter if you have a poor credit score or are unemployed--as long as you can prove you have an income source, you can qualify.
- Address: 515 S Bishop Ave, Rolla, MO 65401
- Phone: (573) 341-5104
Missouri Payday Loans
Missouri Payday Loans is a local chain with 11 locations around the St. Louis metropolitan area. As their name suggests, they specialize in offering no credit check payday loans, but title loans are one of their other major products.
The amount that you can borrow in a title loan from Missouri Payday Loans ranges from $150 to $1,500. Whereas many other companies may have very short loan terms, Missouri Payday Loans typically gives you between 6 to 24 months to repay the loan. Of course, if you choose to repay the loan early, there are no prepayment penalty fees.
- Address: 5517 S Lindbergh Blvd, St. Louis, MO 63123
- Phone: (314) 849-6600
- Email: email@example.com
Missouri Title Loans
Missouri Title Loans is another local chain of title loan providers with about two dozen locations in the state. Their Sunshine St. location in Springfield has received a lot of praise, and has an average 4.9 out of 5 rating among 354 Google reviews.
Missouri Title Loans wants to make their loan process as convenient as possible for their customers. That’s why they provide a fully online option, where no store visit is required. You’re also welcome to start the process over the phone and head to one of their locations to get your funds.
- Address: 307 W Sunshine St, Springfield, MO 65807
- Phone: (417) 8931-1044
TFC Title Loans
TFC Title Loans is a national loan provider that has been around since 1994. They are known to have a high approval probability on their title loans even if you have bad credit.
While TFC Title Loans does not have any physical locations in Missouri, they are still a popular choice due to their customer service and affordable rates. Their website features a very quick and easy online title loan application that can kick off the process in just a few minutes.
- Address: 901 Main St #6300, Dallas, TX 75202 (closest physical location)
- Phone: (214) 251-4133
TitleMax is one of the nation’s oldest title loan agencies with locations in 16 states. They have many highly-rated offices in Missouri, with their Webb City location averaging a 4.9 out of 5 rating among 527 Google reviews.
At TitleMax, you can expect all the benefits of working with a well-established company: quick approval, same day cash, and competitive rates. Though they are known to run your credit score, they typically don’t disqualify customers based on their scores.
- Address: 1460 S Madison St, Webb City, MO 64870
- Phone: (417) 673-2203
What Do You Need For a Title Loan in Missouri?
To qualify for a title loan in Missouri, companies will typically ask for the following documents:
- Government-issued ID (driver’s license or passport)
- Car title
In addition, many companies will ask for proof of income and proof of residency. To satisfy these requirements, people often provide a recent pay stub and utility bill. Some companies may also request your car insurance information.
Depending on the company, you may or may not have to bring in your car to a local office for inspection. Some companies may accept recent photos of your car in order to properly assess its value.
Do I Need Good Credit to Get a Title Loan?
No, you don’t need good credit to get a title loan. Like payday loans and pawn shop loans, title loans are special in that they use a valuable item as collateral. Thus, most title loan lenders won’t even run your credit.
As a result, title loans are one of the most practical short-term solutions for those facing bad credit. However, in the long-term, it pays to focus on improving your credit score. This is because doing so unlocks a variety of more affordable loans in the future, so you won’t have to resort to an expensive title loan again.
How can you get started with improving your credit score? For many Missouri residents, credit repair is the answer. We recommend reading our Ultimate Review Guide for Credit Saint to learn how they can permanently increase your score by 30, 60, or even more.
Can I Get a Title Loan Without Proof of Income?
No, typically you cannot get a title loan without proof of income. Title loan lenders need this information to be able to assess your ability to repay the loan.
However, note that there are many ways to provide proof of income outside of the standard pay stub or bank statement. For instance, if you’re unemployed, you could show that you’ve been receiving unemployment checks, or regular allowance from a family member. Some companies are willing to be flexible about this requirement, so it doesn’t hurt to ask.
What Is The Downside to a Title Loan?
The biggest downside to title loans are their high interest rates. Title loans are one of the most expensive loan types out there, especially in the state of Missouri where there are no legal limits on interest rates.
This is why we continually stress the importance of making sure you can repay a title loan before you decide to take one out. If you are 100% confident you can make the repayment, the convenience of a title loan as a short-term solution is unmatched.
Conclusion and Next Steps
As we’ve seen, title loans are still a popular and viable option for getting some quick cash in Missouri. Among the hundreds of Missouri title loan locations, we’ve chosen the top 10 companies for you.
In general, we’d recommend starting with Max Cash as your first title loan company. Their loan process is simple, streamlined, and almost guaranteed to match you with a lender that offers a competitive rate.
If you need cash fast, get in touch with
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About the Author
Chris Morgan is a credit expert, who has been featured in Addition Financial, GOBankingRates, MSN Money, Yahoo Finance, and many other publications. He has read hundreds of books and resources on finance and the credit industry. Because he did this, you don’t have to. As a school teacher for over 20 years, Chris enjoys taking complicated material and breaking it down into manageable information that’s easy to understand.