![]() TitleMax is one of the largest title lenders in the nation, with over 1,400 stores in the 17 U.S. ![]() This means that they can pay off your other car title loan and open a new loan term with them to pay it off. If you already have a title loan with one of their competitors, they can also offer to refinance your title loan with TitleMax and get you a competitive interest rate in the process. You’ll also be issued a debit card for you to access your funds. It will be issued to you either via check or if approved, you can have it deposited in your Universe Silver® Deposit Account. Other lenders can take hours, or even days before ever disbursing loan proceeds to a customer. You can get the cash the very same day even if you don’t have a bank account, or even if you have a bad credit reputation. So, they decided to design an auto title loan process that’s incredibly efficient.įrom start to finish, it will only take 30 minutes for them to transfer the money that you need. TitleMax takes into consideration that your schedule is hectic and you may not have the time to process the application in person, especially if you need the money urgently. As long as you can provide that, TitleMax can approve you quickly for a car title loan, even if you transact online! ![]() How Do I Get a Car Title Loan With TitleMax?Īs one of the nation’s largest car title lending companies, TitleMax has streamlined the car title loan process to be as fast and simple as can be.įor one thing, any credit is welcome as long as you have a car that’s paid off with a title. Reputable people don’t tend to start up title loan companies, and the lowest interest rate you can find is almost guaranteed to be in the triple digits. And that’s no easy task.Ĭhoosing among title loan companies is like choosing whether you’d rather get drawn and quartered, attacked by a pack of wolves, or thrown off a cliff. It’s never a good idea to take out a title loan unless your very life depends on it, in which case you can probably find assistance from someone who won’t gouge out your financial eyeballs.īut if you’re going to do it anyway, it’s a good idea to do some shopping around and choose the most reputable title lender and the lowest interest rate you can find. That means that if you take out a $1,000 title loan and roll it over 12 times, paying just the interest each month, you will have paid back a total of $4,000 at the end of a year.ĭo you have that kind of cash lying around? Probably not, if you’re taking out a title loan.Īnd therein lies the rub: Title loans are predatory, which means that they prey on the people who can least afford them. In case you’ve been lucky enough to avoid having to take out a title loan, the interest on these loans is incredibly high, to the tune of 300 percent or more annually. Such a simple concept – hand over your car’s lien-free title as collateral in exchange for a small loan – and yet such a massive weight of crushing debt that results.
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