Up to $2.5K for Personal Loans¹
The application process through TitleMax is straightforward and can be done online or in-store, making it accessible to a wide range of borrowers. While it is typically possible for individuals to skip a credit check and keep driving their vehicles during the repayment process, these loans tend to come with shorter repayment periods, which might not be feasible for everyone.⁵
Pros and Cons of TitleMax
TitleMax can be a beneficial option for individuals seeking quick and flexible financial solutions, particularly for those who own a vehicle and may have difficulty securing traditional bank loans.⁵
- Bad credit borrowers may be eligible for title loans
- In store options for some borrowers
- Quick approval and competitive rates⁴
- Funding is possible as soon as the same or by the next business day¹ ²
- Securing a loan against your car can result in repossession if you default on your loan
- Cannot be used for non-personal related expenses
- Must have a bank account to secure a personal loan
- Required documents may change based on your state of residence
- Repayment terms may be short depending on your state of residence⁴
Not only is the approval process quick and streamlined, but eligible borrowers can receive competitive rates and funds as soon as the same or by the next business day with loans from TitleMax. Additionally, some borrowers have the option to apply in person, which can be advantageous for those who prefer to get things done face to face.¹ ⁴ ⁵
The disadvantages associated with securing a TitleMax lie in the fact that you may be required to submit additional documentation based on your state of residence and the repayment terms may be shorter than other loan options, which is not ideal for some borrowers.⁴ ⁵
How TitleMax Compares
to Other Options
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| Max Cash's Rating | |||
| Repayment Terms | Depends on Product Type and Varies by State⁴ | N/A | 1 Month to 10 Months⁴ |
| Funding Timeline | Receive funds as little as 30 minutes or the same business day¹ ⁵ | Receive funds on the same day or by the next business day | Get cash the same or next business day |
| Bottom Line | TitleMax loans are known for their quick funding and flexible approval process but may have shorter repayment terms.⁴ Applying for a loan in person or online is an option.⁵ |
Oportun assists borrowers needing funds quickly with personal loans up to $10,000 with approvals and funding possible the same day.⁵ Loans come with fixed monthly payments, no hidden or prepayment penalties, but not available nationwide.³ |
Camelot Financial Services can offer personal and signature loans with fast funding and a quick approval process. You can apply for a loan in person, or fill out the online application, and if submitted after 5:00PM CDT will process the next business day. Camelot Financial Services can only cater to residents of Oklahoma. |
Frequently Asked Questions about
TitleMax
TitleMax is a legitimate lending business with decades of experience in the industry. Specializing in vehicle-secured loans, TitleMax caters to a variety of subprime borrowers who may not have access to forms of traditional lending, such as credit cards and bank loans.
The general number for inquiries is 1-88-TITLEMAX (1-888-485-3629).
If you are an existing borrower and have questions about TitleMax or your loan, you can dial 800-804-5368.
TitleMax has been reviewed by the Better Business Bureau (BBB) and has an A+ rating, but it has not been accredited.
