As one of the largest title lending companies in the U.S., TitleMax® has garnered a positive reputation. People across the country trust us to provide them with title secured loans when they find themselves in an unexpected situation that requires additional funds. Despite the popularity of our car title secured loans, however, they’re not the best fit for everyone’s situation. Fortunately, in select states, we also offer personal installment loans. Providing this type of loan as an option for our clients allows us to help as many people as possible through life’s more expensive emergencies.
Personal installment loans are loans in which the borrower repays the lender in periodic installments. It’s an alternative loan option that’s suitable for those who don’t want to wait around for approval for a traditional loan or those who don’t meet banks’ stringent standards for qualification. As with our title secured loans, personal loans from TitleMax® offer a faster application process, but they differ from title secured loans because they are unsecured, meaning that you can apply for a personal installment loan even if you do not own a vehicle with a clear title.
While collateral isn’t a requirement if you want to get a personal loan, there are a number of basic things that you must supply us with in order to qualify.
These requirements include:
In addition to these general requirements, you’ll need to submit two pay stubs if you are approved for a loan that’s more than $1,000, and these larger loans will be disbursed by direct deposit. Before applying for one of our personal loans, keep in mind that we will not be able to approve borrowers who currently have an outstanding loan with us.
TitleMax® personal loans are currently available in Utah and Wisconsin and will soon be available to customers in Texas. Other states will be added soon!
Customers with a personal loan may pay us in biweekly, semi-monthly, or monthly installments. Every payment includes part of the principal, interest and fees, which results in the loan being paid in full by the final payment. Customers who prefer not to come into our stores to make payments or who worry that they may forget to make a payment may choose to have their bank account debited electronically via ACH (the national electronic payment processing network) for their convenience. This is not required, but choosing this option will grant you an improved interest rate.
When you find yourself facing an unexpected expense and saying “I need a personal loan!” turn to TitleMax®. You can conveniently start the application online from the comfort of your couch or wherever you have Internet access. Another option is to simply visit one of our Utah or Wisconsin locations nearest you. At our stores, you can both complete an application and speak with a representative in person. If you have any questions regarding our personal loans, contact us by email or chat or call us toll-free. We look forward to serving you.