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Title Loans and Liens in New Mexico

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What are the Monthly Interest Rates?

Just like some states have restrictions on loan amounts, some have restrictions on interest rates. However, New Mexico is not one of those states. The state doesn’t have an interest rate cap on what lenders can charge insurers on their monthly payments.

How Long is the Loan Term?

New Mexico does not have restrictions on loan terms. It is typical to see vehicle title loans with loan terms of 30 days, from most lenders. Yet, LoanMart offers variable loan terms, based on the borrowers’ needs1. This means that qualified borrowers can have plenty of time to pay the loan back and make it fit into their unique finances.

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