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State rules

Maine auto loan rules

Maine has 23 Census places covered on AutoLoanable, with a combined estimated population of 390,874. Vehicle financing in Maine 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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30% cap state usury cap
5.5% statewide state vehicle sales tax
Prohibited vehicle title loans
Maine Bureau of Consumer… state regulator

Key rules for car buyers in Maine

RuleDetailSource
Maximum legal interest rate (usury cap) 30% per year on unpaid balances up to $2,000; 24% on $2,000–$4,000; 18% above $4,000 (9-A M.R.S. § 2-401(2))
Source says: "30% per year on that part of the unpaid balances of the amount financed that is $2,000 or less"		 Maine Legislature
as of 2026-09-17
Vehicle title loan status Maine law prohibits title loans; the Bureau of Consumer Credit Protection states they are illegal, and consumer loan finance charges are capped at 30% per year (18% for loans over $8,000).
Source says: "Although nearby states offer them, Maine law prohibits title loans." License category: none — no title-loan license category.		 Maine Bureau of Consumer Credit Protection (Maine State Legislature Law and Legislative Digital Library)
as of 2026-09-17
Sales finance / installment lender licensing Supervised lender license required when the finance charge exceeds 12 1/4% per year (or the loan is secured by real estate); applications via NMLS
Source says: "Anyone who makes, takes assignment of, or services consumer loans in which the rate of the finance charge ... exceeds 12 1/4% per year" No separate motor vehicle retail installment sales act; motor vehicle retail installment sales are governed by the Maine Consumer Credit Code (Me. Rev. Stat. tit. 9-A, §§ 1-101 et seq. (motor vehicle finance charge cap at § 2-201(9-A))).		 Maine Bureau of Consumer Credit Protection
as of 2026-09-17
State lending regulator Maine Bureau of Consumer Credit Protection (Department of Professional and Financial Regulation)
Source says: "The Bureau of Consumer Credit Protection licenses and registers the following business entities"		 Maine Bureau of Consumer Credit Protection
as of 2026-09-17
Sales tax on vehicle purchases 5.5% state rate
Source says: "Tax on the sale or use of motor vehicles, watercraft, aircraft, chain saws, special mobile equipment, trailers, and truck campers is levied at the same rate (5.5%) as on other property."		 Maine Revenue Services
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 Maine 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 Maine

We cover 23 Census places in Maine.

Frequently asked questions

What interest rate can a lender charge on a car loan in Maine?
It depends on the product and the statute that governs it. The sourced table on this page lists Maine'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 Maine?
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 Maine?
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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