Frequently Asked Questions
What is a title loan? (also known as a title pawn in some states)
A title loan (or title pawn in some states) is a quick and convenient way for people who own their car to get cash. Getting a title loan is easy, as long as you own your car and have a lien-free title, you can use it as collateral to get the cash you need from TitleMax.
Why is TitleMax the best option for getting a title loan?
TitleMax always offers its customers the most cash possible with interest rates that are typically 50% less than the competition. Additionally, TitleMax has been a trusted consumer lender for over 13 years, helping hundreds of thousands of people in getting cash when they need it. With TitleMax, you never have to worry about a credit check** and you get your cash in about 30 minutes. Getting a title loan is easy with TitleMax!
What is a lien-free car title?
A lien-free car title means that you own your car outright, with no outstanding loans or judgments against it. You need to have a lien-free car title to get a title loan from TitleMax.
How does the title lending process work?
TitleMax makes the title lending process simple, and it only takes a few minutes to get the cash you need. Here’s what you do…
- Bring your vehicle and lien-free vehicle title to TitleMax.
- Fill out an application while TitleMax does a quick 5-minute vehicle appraisal.
- TitleMax will determine a transaction amount based upon your need and the appraised value of your vehicle.
- Upon approval, you will receive the cash you need and retain the use of your car. We will keep your vehicle’s title, as well as your motorcycle if you are getting a motorcycle title loan or pawn.
- Once you pay off your account balance, you get your title back. If you’ve paid off a motorcycle title loan or pawn, you will also get your motorcycle back upon final payment.
What if I have bad credit? Am I still eligible for a title loan?
Absolutely! Your credit score doesn’t matter. TitleMax can give you a title loan whether you have good credit, bad credit, or no credit. And your credit score isn’t affected by applying/obtaining a title loan with TitleMax.**
What is required to be approved for a title loan?
To be approved for a title loan with TitleMax, you must be at least 18 years old (19 years in Alabama) and have the following:
- Lien-free car title
- Proof of income (excluding Alabama)
- A government-issued ID
- You do not need good credit. TitleMax does not check your credit or use your credit history in any way during the approval process.**
Does the car title have to be in my name?
Yes, the car title must have you listed as the legal owner to be eligible for a title loan with TitleMax. If you are listed on the title along with another person, call the location nearest you to determine whether or not the other person listed on the title has to apply along with you.
Do I need to have a job to be approved for a title loan?
No, TitleMax does not require you to be currently employed to get a title loan. But you do need to have some type of income (unemployment, disability, retirement income, etc).
What if I am on disability or retired? Can I still be approved for a title loan?
As long as you have a source of income (disability, pension, etc.), you are eligible for a title loan with TitleMax.
How do I know if I will be approved for a title loan?
The best way to know if you will be approved for a title loan is to stop into your nearest TitleMax with the required items. TitleMax will do a quick vehicle appraisal while you fill out an application, and in about 15 minutes you’ll know exactly how much cash you’ve been approved for.
Can I only apply for a title loan at TitleMax locations?
You can apply for a title loan at any one of our 1,000+ convenient locations or online here.
How much cash can I get with TitleMax?
You can get up to $10,000!* The loan amount is based upon your need and the value of your vehicle appraisal.
How long does it take to get approved for a title loan?
With TitleMax, you can get the cash you need in as little as 30 minutes. Make sure you bring the required items when you apply for your title loan and you’ll have the cash you need before you know it.
How do I get my title back?
TitleMax will return your title immediately after you pay back the full amount due on your account.
Why acquire funds from a title lender?
Getting a title loan is a lot easier than borrowing money from other sources. A title loan enables you to acquire the cash you need based on the value of your car. And, the best part is you get to keep driving your car during the course of the loan.
Aren’t title loan interest rates considered high?
Not with TitleMax. While some title lenders do charge high interest rates, TitleMax charges up to 50% less than these guys.
How do I know my personal information is safe with TitleMax?
TitleMax has been a trusted consumer lender for over 13 years and goes to extreme measures to keep our customers’ personal information safe. Your information is as safe as it can be with TitleMax.
How do I make a payment on my title loan?
TitleMax offers various payment options for customers: debit, Western Union, and cash. You choose the option that makes the most sense for your situation.
Is there a pre-payment penalty?
TitleMax does not charge a pre-payment penalty. In fact, we encourage customers to pay off their title loans sooner if possible.