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State rules

Mississippi auto loan rules

Mississippi has 299 Census places covered on AutoLoanable, with a combined estimated population of 1,485,130. Vehicle financing in Mississippi is governed by state law — the interest-rate caps, title-lending rules, sales-finance licensing and the regulator that oversees them. The sourced figures below apply to every car loan made to a borrower in the state.

By the AutoLoanable Editorial Team · Last updated 2026-09-17

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5% statewide state vehicle sales tax
Permitted vehicle title loans
DBCF state regulator
Small loan license… lender licensing

Key rules for car buyers in Mississippi

RuleDetailSource
Maximum legal interest rate (usury cap) See the latest published figure
value_text left null: the maximum finance charge for licensed small-loan lenders is set by Miss. Code § 75-17-21, which § 75-67-119 references as the limit; no retrievable official page published the current figure for direct verification.		 Mississippi Department of Banking and Consumer Finance
as of 2026-09-17
Vehicle title loan status Permitted for licensed title pledge lenders; the service charge may not exceed 25% of principal per month, and the borrower must reduce principal by 10% at each extension.
Source says: "A title pledge lender may contract for and receive a title pledge service charge ... not to exceed twenty-five percent (25%) of the principal amount, per month, advanced in the title pledge transaction." License category: Title pledge lender license (Mississippi Department of Banking and Consumer Finance).		 Mississippi Department of Banking and Consumer Finance — Mississippi Title Pledge Act (Miss. Code Ann. § 75-67-413)
as of 2026-09-17
Sales finance / installment lender licensing Small loan license required (Small Loan Regulatory Law; Miss. Code § 75-67-105)
Source says: "No person shall engage in the business of lending money ... without being the holder of a valid and subsisting license" Motor-vehicle retail installment sales are separately governed by the Mississippi Motor Vehicle Sales Finance Law (Miss. Code Ann. § 63-19-1 et seq.).		 Mississippi Department of Banking and Consumer Finance
as of 2026-09-17
State lending regulator Mississippi Department of Banking and Consumer Finance (DBCF)
Source says: "The Mississippi Department of Banking and Consumer Finance's (DBCF) mission is to regulate, supervise and safeguard financial institutions chartered and licensed in Mississippi"		 Mississippi Department of Banking and Consumer Finance
as of 2026-09-17
Sales tax on vehicle purchases 5% state rate on automobiles and light trucks (10,000 lbs. or less)
Source says: "The sales tax rate is 5% and is based on the net purchase price of your vehicle (price after dealer's discounts and trade-ins.)"		 Mississippi Department of Revenue
as of 2026-09-17

How to use these rules

  1. Check the ceiling before you compare offers

    If a quoted APR looks extreme, compare it against the Mississippi cap above — and note that a specific statutory exemption can apply to a particular product.

  2. Verify the lender is licensed

    Use the regulator named in the table to confirm the lender or sales-finance company may legally serve borrowers in the state.

  3. Know what is secured against your car

    A vehicle title loan is secured by the car itself. If the state permits it, understand the repossession terms before you sign anything.

  4. Budget for tax and fees separately

    Sales tax and title fees are financed along with the car, so they raise the amount you borrow — and therefore the interest you pay on them.

Cities in Mississippi

We cover 299 Census places in Mississippi.

Frequently asked questions

What interest rate can a lender charge on a car loan in Mississippi?
It depends on the product and the statute that governs it. The sourced table on this page lists Mississippi's usury cap, its motor-vehicle sales-finance rules and the licensing requirements, each with its publisher and a link to the primary source.
Are title loans legal in Mississippi?
Vehicle title lending is regulated state by state; some states permit it under a licensed lender, some cap it, and some prohibit it outright. See the sourced figure on this page for the current position, and confirm it with the state regulator before you sign anything.
Do I need a license to finance a car in Mississippi?
Most consumer lenders and motor-vehicle sales-finance companies must be licensed by the state regulator named on this page. You can verify a lender's licence with that regulator before you sign anything.

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