LOANMAX TITLE LOANS REVIEW
LoanMax title loans have been in the title business for over 27years. It was founded in Jonesboro, GA as Instant Cash Loans on Car Titles, Inc. The company currently operates in 18 states. The company allows you to apply for loans using your car as collateral.
HOW LOANMAX TITLE LOANS WORK
LoanMax Title Loans is a direct lender offering fast and easy financial solutions to people and entrepreneurs who own vehicles and are in urgent need of cash. LoanMax is a highly favored title lender with lower costs and much fewer fees.
The company offers title loans ranging from $100 to $10,000 depending on the value of your vehicle and State restrictions. Depending on how quickly you can repay your loan, LoanMax gives you the opportunity to choose between a single-installment plan and a multiple-installment plan. You can apply for a loan in the closest location to you; you can also start your application online.
In order to apply for a title loan, the title of the vehicle you choose to use as collateral has to lien-free. If the title has someone else’s name, you would need to bring the person with you when you apply.
To get a title loan from LoanMax, you would need to visit one of the company’s retail locations. Additionally, you can begin the title loan application process online and finish it in the store. If you decide to start the process online, after the pre-evaluation, a company representative would call you to discuss how to finish the process in any of their locations.
Your vehicle, photo ID, income and clear vehicle title are all you need to apply for a title loan. The whole application process usually takes about 20 minutes. You would need to provide basic information including your name, income, phone number, car make/model/year. The value of the vehicle determines the loan amount with respect to your needs and you get to leave the store with your money and your car.
Depending upon state and county, you are required to pay a lien fee of $28.00, $33.00 or $55.00. A late fee not to exceed 5% of the unpaid amount or $7.50 is to be paid if you do not make full payment on or before the 10th day after the scheduled repayment date.
You can repay your loans before the specified time-by cash, debit cards, ACH, etc.-as there is no repayment penalty. While it is uncommon, LoanMax will repossess your vehicle if all measures taken to get their money back prove futile.
If you are ever in need of money and you own a lien-free vehicle, irrespective of whether you have a low credit score, are unemployed or self-employed, LoanMax is one of the best companies to get a title loan. The company is reliable and transparent. It is extremely important to think everything through and make sure that you can repay your loan as scheduled, to avoid unpleasant situations.