Call now to find a location near you: 601-682-0212

Installment Loans

​​​Mississippi Installment Loans Frequently Asked Questions

Getting an Installment Loan means you get the money you need and keep your vehicle or other collateral. We will only need the lien-free title of your car, motorcycle or description of other collateral.   Get an appraisal today by stopping by any of our locations offering installment loans.

What do I need to get an Installment Loan?

Your vehicle, the title, or another type of collateral, a State Issued or Government ID, Proof or Residence and Proof of Income. 

If I Use My Vehicle for Collateral, When Will I Get My Car Title Back?

​You will be set up on a payment schedule, based on your income and you will get your title back once all principal and fees have been paid back.

Can you pay off my existing loan, secured by my vehicle?


Mississippi Department of Banking and Consumer Finance Disclosure

A Credit Availability loan is a binding contract to borrow money that is intended for short-term use and is not generally based on your credit report. This loan may be paid-off at any time. Paying off a loan early may result in paying less fees.

Borrower’s rights and responsibilities

A borrower has the right to rescind (cancel) the transaction within one (1) business day; however, if the borrower accepts the funds from the lender prior to the expiration of the one-day cancelation period, any origination fee charged shall be non-refundable.

A borrower may be charged a monthly handling fee up to $25.00 per $100.00 borrowed per month.

A borrower may be charged an origination fee of 1% of the amount disbursed or $5.00, whichever is greater.

Loans of $500.00 or less must be payable in an overall term of 4 to 6 months.

Loans of more than $500.00 and up to $2,500.00 must be payable in an overall term of 6 to 12 months (Max loan is $2,500.00). 

Lender rights in the event of default by the borrower

A lender may charge a late fee of 10% of the past-due amount 10 business days after the due date, provided that such fees are clearly disclosed in the contract.

If a borrower is in default for more than 60 days, a lender may charge and collect the following fees only if they are required to employ a third party, including an attorney:
A reasonable collection fee and/or attorney’s fee.
All court cost incurred including contractual damages.
Fees and costs related to the repossession and sale of collateral. 

If you have any questions or need additional information about this type of transaction or about any other activity or procedure conducted in our offices, please call or write:

Mississippi Department of Banking & Consumer Finance
Post Office Drawer 23729
Jackson, Mississippi 39225-3729
Phone: 1-800-844-2499