Can you get a personal loan from TitleMax?

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Individuals who complete an application for a personal installment loan and meet our requirements are eligible for a personal loan from TitleMax® provided that they do not currently have an outstanding loan with us.

How do you qualify for a personal loan?

To qualify for a personal installment loan, customers cannot have an existing loan with us. They must also provide us with certain documents, including:

  • A driver’s license or some other valid form of government-issued identification, such as a matricula consular card or passport
  • A pay stub from within the past 30 days or some other proof of income. For loans greater than $1,000, two consecutive pay stubs are required.
  • Proof of residency in the form of a utility bill, voter registration, lease agreement, or mortgage statement
  • A bank/ active checking account statement from within the past 45 days

What banks offer personal loans?

Numerous banks across the country offer personal loans, but for many people, they’re not a good option. Bank loans often have lengthy approval processes and require flawless credit. If you don’t have time to wait around while a bank decides whether they want to approve you for a loan, turn to TitleMax®.

Can you use your car as collateral for a personal loan?

No: Our personal installment loans do not require any form of collateral.

Is direct deposit necessary?

Direct deposit of your loan disbursement is only required when the loan amount is greater than $1,000.

Can repayment be made electronically?

Yes, we offer our customers the option of making electronic payments through the Automated Clearing House, or ACH, the nation’s largest electronic payment processor.

What are the benefits of making payments through ACH?

When you select the ACH payment option, your payments will be made automatically, without any effort from you. There’s no need to come into our store, and you won’t have to worry about accidentally forgetting a payment. Preferred pricing is also given to our customers who opt for ACH repayment.

How often are installment payments made?

Repayment on personal installment loans can be made on a weekly, biweekly, or monthly basis.

What’s included in each payment, and when is payment due?

Your installment payments will include principal, interest, and fees. This helps ensure that your loan is paid off entirely by the end of the loan’s term if you pay on or before your due date.

What determines the term of the loan?

The amount of your loan and your pay schedule helps us to determine the term of the loan, and the frequency of your due date.

  • * Maximum loan amount in Illinois is $4,000. Maximum loan amount in Mississippi is $2,500. Maximum loan amount in Tennessee is $6,500, assuming customer qualifies and accepts both the Pledge and Line of Credit. Minimum loan amount in California is $2,600.
  • ** Car title loans may require a credit check in California. Motorcycle title loan and pawn approval requires satisfaction of all loan eligibility requirements including a vehicle evaluation and a credit check.
  • *** To be approved for a title loan or pawn, you must be at least 18 years of age (19 in Alabama). Account approval requires satisfaction of all eligibility requirements, including a possible credit inquiry, and a motor vehicle appraisal. Certain other terms and conditions apply.
  • † Proof of income is required in Illinois, Nevada, some Texas locations, and California. In California you are also required to provide proof of residency, and a valid vehicle registration to obtain a loan.
  • ‡ Signature and personal loans are offered by an affiliate of TitleMax® and are currently only available in Florida. Account approval requires satisfaction of all loan eligibility requirements, including a credit inquiry, and, if applicable, motor vehicle appraisal.
  • § Refinancing of a competitor’s title loan is not available in Mississippi or Virginia. In Illinois, you are required to have reduced your original principal balance by 20% before refinancing. TitleMax®, TitleBucks®, and InstaLoan®, are not considered competitors. Please see a store associate for details.
  • - TitleMax of Virginia, Inc. d/b/a TitleMax® is licensed by the Virginia State Corporation Commission, license number VTL-11.
  • - In Texas, TitleMax® acts as a Credit Services Organization 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.
  • - In GA, TitleMax® offers Title Pawns.
  • - In CA, Loans are made by TitleMax of California, Inc., California Finance Lenders Law License No. 603K014.
  • - New Mexico Consumers: please see important New Mexico Consumer Information and Disclosures.