Title Loan Payoff Calculator: Months and Interest at Triple-Digit APR
Work out how long a car title loan takes to pay off and the staggering interest it costs at the triple-digit APRs these loans typically carry — and see why they're considered one of the most dangerous forms of borrowing.
Adjust the inputs and select Calculate for a full breakdown.
Year-by-year payoff schedule
Compare Common Scenarios
How the numbers shift across typical situations for this calculator:
| Scenario | Time to pay off | Total interest | Total paid |
|---|---|---|---|
| $1,500 · 300% · $400/mo | 1y 1m | $3,481.01 | $4,981.01 |
| $1,000 · 300% · $300/mo | 9 months | $1,409.88 | $2,409.88 |
| $2,500 · 240% · $600/mo | 10 months | $3,404.13 | $5,904.13 |
| $1,500 · 300% · $800/mo (fast payoff) | 3 months | $779.69 | $2,279.69 |
How This Calculator Works
Enter the loan amount, the APR (title loans average around 300% — roughly 25% a month), and the fixed amount you can pay each month. The calculator simulates the balance month by month until it clears, then totals the interest. It assumes you don't roll the loan over.
The Formula
Debt Payoff Time
B = balance, P = fixed monthly payment, r = monthly rate (APR ÷ 12), n = months to clear
Worked Example
A $1,500 title loan at 300% APR, paid $400 a month, takes about 13 months and costs roughly $3,481 in interest — more than double what you borrowed. And this is the optimistic case: title loans are usually structured as a single 30-day balloon payment, and borrowers who can't pay roll the loan over, piling on new fees each cycle. The real-world outcome is often a debt that balloons far beyond the original amount and, in the worst case, repossession of the vehicle.
Key Insight
Car title loans are predatory by design and should be a last resort or avoided entirely. The mechanics are brutal: roughly 25% interest per month (about 300% APR), a 30-day balloon structure that most borrowers can't meet, and rollovers that compound the cost while the lender holds your car title as collateral. A large share of title-loan borrowers end up renewing repeatedly, and a meaningful fraction lose their vehicle to repossession — losing both the car and the equity in it. Almost any alternative is cheaper: a payment plan with the original creditor, a payday-alternative loan from a credit union, borrowing from family, a paycheck advance, local emergency-assistance programs, or even a high-APR credit card (which at 25–30% APR is roughly ten times cheaper than a title loan). If you already have a title loan, prioritize paying it off or refinancing it into anything with a lower rate as fast as possible — this calculator shows how quickly the interest outruns the principal.
Frequently Asked Questions
How is title loan payoff calculated?
The calculator applies the monthly rate (APR ÷ 12) to the balance, subtracts your fixed payment, and repeats month by month until the balance clears. At 300% APR that's about 25% per month, so a $1,500 loan paid $400/month takes about 13 months and costs roughly $3,481 in interest.
Why are title loans so expensive?
They typically charge about 25% interest per month — roughly 300% APR — and are structured as short 30-day balloon loans secured by your car title. Borrowers who can't repay in 30 days roll the loan over, adding new interest and fees each cycle, so the cost compounds rapidly far beyond the original amount.
Can I lose my car with a title loan?
Yes. The lender holds your vehicle title as collateral, so defaulting can lead to repossession — and a meaningful share of title-loan borrowers do lose their vehicles. Losing the car can also cost you the equity in it and your means of getting to work, compounding the financial damage.
What are cheaper alternatives to a title loan?
Almost anything: a payment plan with the original creditor, a payday-alternative loan from a credit union, a paycheck advance, borrowing from family, local emergency-assistance programs, or even a high-APR credit card — which at 25–30% APR is roughly ten times cheaper than a title loan's 300%.
I already have a title loan — what should I do?
Prioritize getting out of it. Pay it off as fast as possible, or refinance it into any lower-rate option (a personal loan, credit-union loan, or even a credit card). Avoid rolling it over, which only adds fees. The longer a title loan runs, the more the interest outruns the principal.
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Methodology & Review
A month-by-month simulation applies monthly interest (APR / 12) to the balance, subtracts the fixed payment, and repeats until it clears. It assumes no rollover and a constant payment; title-loan fees and the typical 30-day balloon structure are not modeled, so real costs can be even higher.
Written by Ugo Candido · Last updated May 22, 2026.