Best Car Title Loan Alternatives in New York of February 2024

Ray Prince
Last Update: September 25, 2023 Personal Loans by States and Cities

When it comes to predatory lending types, car title loans are at the top of the list. Outrageously high 300% APRs and putting up collateral may place New York’s bad credit borrowers (its target audience) in a precarious position. However, with the average debt cycle time of 200 days and 20% of auto title loan New York borrowers losing their vehicles, it’s a chance no one should take.

Luckily, there are many auto title loan New York alternatives.. These include personal loans with sub 35.99% APRs offering loans up to $100,000.

Keep reading to learn more about car title loan alternatives in New York, including what title loans are, how the auto title loan New York business works and our top picks for other options.

Lender:Loan Amount:APR:Min. Credit Score:Best For:
NextDayPersonalLoan$100 – $40,0005.99% – 35.99%0Bad credit
LifeLoans$100 – $40,000Not Listed0Bad credit
Upgrade$1,000 – $35,0008.49% – 35.99%560No prepayment fees on an unsecured loan
SoFi$5,000 – $100,0005.74% – 20.28%680No-fee unsecured loans
ZippyLoan$100 – $15,00012.00% – 35.99%0Bad or no credit
BadCreditLoans$1500 – $10,0005.99% – 35.99%UndisclosedSmaller loans
First Tech Federal Credit UnionUp to $35,0008.89% – 12.89%UndisclosedFirst Tech Federal Credit Union customers
Bethpage Federal Credit Union Up to $35,0007.49% – 18%UndisclosedBethpage Federal Credit Union customers
Navy Federal Credit Union$250 – $50,0007.49% – 18%UndisclosedNavy Federal Credit Union
Mariner Finance $1,000 –  $25,00018% – 35.99%UndisclosedMariner Finance customers
Credit Union 1Up to $2,000,00 for HELCNo more than 18%UndisclosedCredit Union 1 customers

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Why Trust ElitePersonalFinance Guides?

To compile our Car Title Loan Alternatives and Laws in New York of February 2024 guide, we exhaustively researched more than 30 lenders, spanning online lending platforms, banks, and credit unions to present the best options.

Our recommendations led with APRs, rates, terms, and consumer-friendly products like debt protection and credit counseling. We also continually ensure that all reviews are up-to-date with the latest information in an ever-changing world.

Lastly, we are fans of checking third-party reviewing platforms like Trustpilot to validate each lender’s commitment to customer service and transparency.

Thanks for confiding in ElitePersonalFinance and its expert team of finance writers to help you find the best car title loan alternatives in New York.

Best Car Title Loan Alternatives and Laws in New York of February 2024: Key Findings

The best car title loan alternatives offer loans as little as $100 with APRs as low as 7%

Secured loans allow bad credit NY borrowers to take advantage of lower interest rates in exchange for putting up collateral.

Bad credit NY borrowers can take out alternative auto title loans capped at  35.99%, a nice alternative to traditional title loan APRs reaching as high as 300% APRs.

Loan origination fees on alternative auto title loans can go up to 8.99%, although many lenders offer $0 fees.

Annual percentage rates on unsecured personal loans start at roughly 25.3% for bad credit New Yorkers with FICO scores below 630.