Maine regulates consumer loans through the Maine Consumer Credit Code and supervised-lender licensing. For a qualifying closed-end consumer loan, the statutory actuarial finance-charge tiers are 30% per year on the first $2,000, 24% on the portion above $2,000 through $4,000, and 18% on the portion above $4,000. If the amount financed exceeds $8,000, the finance charge may not exceed 18% per year on the entire loan.
Last reviewed: August 13, 2026. This page provides general consumer information, not legal advice.
Are title loans legal in Maine?
Maine does not set out a separate short-term title-loan statute with its own rate card. A loan secured by a vehicle must be evaluated under the actual consumer-loan agreement and Maine Consumer Credit Code. A lender making or soliciting consumer loans must comply with Article 2, Part 3 or be otherwise exempt; unlicensed consumer lending is an unfair or deceptive practice under Title 9-A, §5-118.
Verify a company through the Maine Bureau of Consumer Credit Protection license search. Ask who will hold the lien, whether the loan is closed-end or open-end, and for the complete federal disclosure set before signing.
Sources: Maine Title 9-A, §2-401, §5-118, and Bureau complaint guidance.
Maine vehicle-secured loan limits
| Rule | Maine requirement |
|---|---|
| Consumer-loan rate tiers | For a qualifying closed-end consumer loan: 30% per year on unpaid balances of $2,000 or less; 24% on the portion above $2,000 through $4,000; and 18% on the portion above $4,000. Title 9-A, §2-401. |
| Loan above $8,000 | If the amount financed exceeds $8,000, the finance charge may not exceed 18% per year on the entire amount financed. Title 9-A, §2-401. |
| Rate method | The statutory consumer-loan charge is calculated under the actuarial method. A disclosed monthly payment alone is not the APR or total cost. |
| Separate title-loan rate | The current code does not provide a separate universal title-loan rate card. Determine which Maine consumer-credit rule applies to the actual agreement. |
| Minimum charge | Title 9-A, §2-401 permits minimum charges of $5, $15, or $25 depending on the amount financed. |
| Refinancing | A consumer-loan refinance may carry a finance charge no higher than the rate permitted by §2-401 on the resulting amount financed. Title 9-A, §2-504. |
| Additional charges | Additional charges are limited to categories permitted by Title 9-A, §2-501, including official fees and taxes and specified insurance charges. |
| License check | Use Maine’s Bureau of Consumer Credit Protection license search before providing title or bank information. |
| Repossession | Vehicle-lien default and sale rights depend on the agreement and Maine secured-transactions law. Keep every notice and seek help promptly if a repossession or sale is threatened. |
What to review before applying
Get the written numbers needed to test the offer. Request the APR, finance charge, amount financed, total of payments, payment schedule, lien documents, late/default charges, payoff procedure, and all itemized fees. A lender may request identification, income details, registration, title information, insurance proof, and records of existing liens; those requests are not a guarantee of approval.
Do not sign a blank title transfer, power of attorney, or document with missing rate or fee fields. If a website calls the product a title loan but does not identify the lender or disclose the full cost, pause and verify the business first.
Repossession and complaints in Maine
Do not ignore a default, repossession, or sale notice. Request a current payoff, a copy of the security agreement, and a written account history. Keep the notice envelopes, payment receipts, and records of personal property in the vehicle. The Bureau of Consumer Credit Protection accepts complaints from Maine residents about supervised lenders, auto dealer credit sales, repossession companies, and other regulated entities, but it cannot act as your lawyer or decide a private court dispute.
For a time-sensitive vehicle dispute, contact a qualified attorney or legal aid program promptly. The facts, contract, lien, and notices control the available rights.
Alternatives and help in Maine
For essential expenses, consider public benefits and community resources before placing transportation at risk. These are resources, not loan offers.
- Food assistance: Maine DHHS provides food-supplement program information.
- Heating support: MaineHousing explains the Home Energy Assistance Program.
- Credit-union alternative: the NCUA’s Payday Alternative Loan materials describe an option some federal credit unions may offer. Confirm availability directly.
- Consumer complaint: file with the Maine Bureau of Consumer Credit Protection.
- Legal help: Pine Tree Legal Assistance provides civil legal information and services for eligible Maine residents.
Cities we serve in Maine
Maine location pages remain subject to the execution plan’s lender-relationship and quality review. This statewide hub is the source for Maine consumer-loan limits and verification guidance until individual local destinations are validated.
Frequently asked questions
What finance charge can a Maine consumer lender charge?
For a qualifying closed-end consumer loan, Maine uses tiers of 30%, 24%, and 18% by unpaid-balance amount. A loan above $8,000 is capped at 18% per year on the entire amount financed.
Does Maine have one special title-loan APR?
No separate universal title-loan rate card appears in the current code. The actual agreement and applicable consumer-loan rule must be reviewed.
Can an unlicensed business make a consumer loan to a Maine resident?
Title 9-A, §5-118 treats soliciting or making a consumer loan without compliance with the supervised-lender requirements or an exemption as an unfair or deceptive practice.
Where do I complain about a Maine lender or repossession company?
Maine residents can submit an online complaint to the Bureau of Consumer Credit Protection about supervised lenders, repossession companies, and other listed entities.
What should I keep after a default notice?
Keep the contract, lien documents, notices and envelopes, payment receipts, current payoff statement, and all communications. Seek legal help promptly where a vehicle is at risk.
