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Flex Financing
FAQ: Flexible
Lines of Credit
and Secured
Personal Loans

What is flex financing?

Flex financing is a type of flexible borrowing solution that helps ensure that you have sufficient funds available in the event of an unexpected costly situation. Our flexible line of credit loan is an example of this type of financing.

How does a flexible line of credit work?

A flexible line of credit loan works very similarly to a credit card in that you can access and use funds when you need them. The amount that you withdraw can be as little or large as necessary, provided that it does not go over the total loan amount.

What is a line of credit used for?

A line of credit is often used for emergency situations, home repairs, and other unexpected expenses where one is unsure what the total cost will be.

What is the interest rate on a personal line of credit?

TitleMax offers competitive interest rates on these flexible financing products.

What are a title pledge and a line of credit?

A title pledge is a secured loan for a specific amount of money that the borrower receives all at once and must pay back with interest. A line of credit is a secured loan treated like credit, in that you can borrow money from it as needed.

What is the difference between a loan and a line of credit?

With a line of credit, you are approved for a certain credit amount that you can withdraw from immediately or at a later date. You can withdraw funds from a line of credit all at once, or you can take them out a bit at a time as you need them. With a loan, however, you are approved for and given a specific amount of money all at one time.

Do you need collateral for a line of credit?

Here at TitleMax, collateral in the form of a vehicle with its clear title is required to get a line of credit loan.

Are secured loans easier to get?

In most cases, a secured loan such as a TitleMax line of credit is easier to get than an unsecured loan, as it presents less risk to the lender; however, if a person does not have the appropriate collateral, this type of loan is not an option.

Is having a line of credit bad?

No: A line of credit is not bad when it is used properly to cover unexpected emergencies and payments are made on time.

How do you get a TitleMax flexible line of credit loan?

You can begin the application process online, and we can help you complete it at any of our Tennessee TitleMax stores.

How much cash can I get?

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¹ Title-Secured Loans, Secured LOCs and Title Pawns: Maximum pledge amount in Mississippi is $2,500. Maximum loan amount in Tennessee is $6,500, assuming customer qualifies for and accepts both the pledge max of $2,500 and Secured LOC max of $4,000. Refinancing is not available in Nevada, or for Mississippi or Tennessee Pledge products. Minimum loan amount for title-secured loans in South Carolina is $601.

Must be at least 18 years of age (19 in Alabama). Account approval requires satisfaction of all eligibility requirements, including a credit inquiry, a motor vehicle appraisal and a review of title condition. Must present valid government issued ID. Certain other eligibility requirements and terms & conditions apply. Loan/LOC/Pawn amounts vary by states and product. LOC customers are subject to a periodic collateral review to maintain credit limit. Proof of income documentation and ability to repay analysis is required in Missouri, Nevada, some Texas locations, and Utah.

² Personal Unsecured Loans/LOCs: Unsecured loan amounts and products not available in all stores/states. First time maximum for new personal loan customers varies by state; first time max is $600 in MS; $800 in SC; $1000 in other markets. Higher amounts may be available for return borrowers. In-Store: In-person application not available in the state of Idaho at this time. Account approval requires satisfaction of all eligibility requirements, including a credit inquiry. Bring in active bank account details (dated within the last 60 days), and a valid government-issued ID to apply. If your bank account statement does not show recurring income deposits, you will need to also bring in proof of income, like a paystub, from within the last 60 days. In NV, proof of gross income is required in addition to a bank statement. In AZ, a valid AZ motor vehicle registration in your name is also required. Min $601 in SC. For new personal/unsecured loan customers without SSN or ITIN, max loan amount is $601 in SC, $350 in other states. Online: If you do not have an SSN or ITIN, please visit us in store to apply. Additional items required for eligibility, including: a valid and active email address and telephone number, and a valid SSN. You must also reside in a state in which we do business (currently AZ, DE, ID, KS, MO, MS, SC, TN, TX, UT or WI). Min $610 in SC. Certain other terms and conditions may apply.

– Funds distributed via ACH to the borrower’s debit card, Dash Prepaid Card or MoneyGram (when/where available). The Prepaid Technologies Mastercard Prepaid Card is issued by Pathward, N.A., Member FDIC pursuant to a license by Mastercard International Incorporated. The card may be used everywhere Debit Mastercard is accepted.

– California, Illinois and Virginia Residents: TitleMax® no longer originates new loans in CA, IL or VA, but continues to service existing loans.

– Please see our California Resident Notice at Collection and Privacy Policy: Submit a Verified Consumer Request to understand what information we collect, disclose, or sell, to request that we delete your information, and/or opt out of selling by clicking .

– In Georgia, TitleMax offers Title Pawns.

– In Idaho, TitleMax only offers an online personal line of credit. In-person loans/applications are not available at this time.

– New Mexico Consumers: please see important New Mexico Consumer Information and Disclosures.

– South Carolina Residents: Please see South Carolina Consumer Information and Disclosures.

– In Nevada, title loans and high interest loans should be used for short-term financial needs only and not as a long-term financial solution. Customers with credit difficulties should seek credit counseling before entering into any title loan or high interest loan transaction. Ability to repay analysis with income documentation required. Proof of gross monthly income required for a personal loan. As of February 2022, a Nevada state-wide database check is required as a condition to getting a title loan or high interest loan in Nevada. Only one loan (either title-secured or personal) allowed per customer, inclusive of other lenders.

– In Tennessee, TitleMax offers title pledges, and secured and unsecured Lines of Credit (“LOC”). Only one LOC account allowed per customer, inclusive of other lenders. LOC customers are subject to a periodic income (and collateral, if applicable) review/validation.

– TitleMax of Texas, Inc. and TitleMax Online of Texas, Inc., d/b/a TitleMax acts as Credit Services Organizations to assist customers in obtaining a loan through an unaffiliated third-party lender. Please see store associate for details. Please see Texas Schedule of All Fees. TitleMax does not offer pawn loans or pawn transactions in Texas. Certain TX products require proof of insurance. Loan minimums/maximums may vary by store, product or based on results of an ability to repay analysis.

– TitleMax®, TitleBucks®, and InstaLoan®, are not considered competitors. Please see a store associate for details.