TitleMax Review | Compare Loan Options | Credit Raters us-lenders

TitleMax Review

TitleMax was first established in Georgia in 1998. Thereafter, it has grown gradually to become one of the largest title lending companies in the country. It has also increased its footprint by venturing in 165 more states with more than 1,000 locations. Thousands of customers have benefited from the company’s diverse products.

It offers several loan packages, including, title pawn, title loan or a personal loan in various states. It’s noteworthy that their title loans are available for customers who own motorcycles too. Their broad team members, approximately 2,000, help their customers across all the states branches.


When a client is looking for a loan, the first thing they are very cautious of is the costs. That said, TitleMax does not state any costs or fees explicitly on their website. Instead, you have to visit a storefront to get the information.

However, we did some research and found out that their rates are very high, ranging between 170-230%, given the short-term repayment periods (one to several months). Late repayment also attracts a $7.50 or 5% of the unpaid amount while insufficient funds are charged an extra $30.

Key features

All you have to do to qualify for a title loan is to present your motor vehicle as collateral. Unlike payday loans which are capped at around $2000, TitleMax offers a minimum of $2600 and a maximum of $10000. These amounts are incredible. 


  • Many locations – with over 1000 physical storefronts in the 16 states they operate, it’s easy for the consumers to visit them and get a deal
  • No worry about bad credit – given the fact that you are providing the lender with the security of your vehicle, it’s possible to get a title loan despite having bad credit.
  • Fast processing – everything is processed quickly, and if you have met all the requirements, your loan will be granted in less than 30 minutes.


  • Physical appearance – to get a loan from TitleMax, its unfortunate that you have to visit one of their physical stores.
  • Motor vehicle repossession – while they do not openly state this on their website, failure/late repayments often lead to vehicle repossession which is awful.
  • Costly – despite a variety of refinancing options (including previous title loan), interest rates and penalties of rendering the loan are somewhat expensive.


What is a lien-free car title?

It means that your car if entirely yours, no outstanding judgments or loans against it. To get a loan from TitleMax, your car title must meet those two conditions.

Is my personal information safe with TitleMax?

Yes, given the good reputation of more than 20 years, TitleMax has put in place several measures such as encryption of data to guarantee the security of your personal information.

Is a pre-payment penalized?

No, TitleMax does not penalize pre-payments. Therefore, we encourage our clients to pay their title loans sooner.

Eligibility Criteria

The eligibility criteria vary in different states. Nonetheless, some of the requirements are similar in all the states of operation. 

  • US citizen or a permanent resident
  • A valid Bank account alongside your name
  • Must have a government-issued ID
  • A lien-free or paid off vehicle title
  • Not less than 18 years old apart from Alabama, where the age limit is 19 years.

In the state of California, Illinois, Nevada, and Texas, proof of income is needed. What’s more vehicle registration and documentation of the current address are also required.

State Availability

TitleMax is available in 16 states in the country. In case you live in any of the following states, you are sure to get a title loan from them. Alabama, Arizona, California, Delaware, Georgia, Illinois, Mississippi, Missouri, Nevada, New Mexico, South Carolina, Tennessee, Texas, Utah, Virginia, and Wisconsin. 

Customer Support

First, you can contact them via the Chabot on their website. Chatbots are a very efficient means of communication, and you are sure to get help in less than three minutes. Secondly, you reach them out via a phone call. You can call the toll free number; 1-888-869-4522. Thirdly, you can write a letter to the Legal Department, 15 Bull Street Savannah, Ga. 31401.

You can also get help through various social media platforms such as Facebook and Twitter. Their business hours are as follows, Monday to Friday, 9 am to 10 pm while on Saturdays, between 10 am and 5 pm.

Application Process

The title loan application is a three-step process, and you are good to go.

Step 1-Fill in the vehicle details

On the TitleMax website (homepage), fill in the details of the vehicle/motorcycle you intend to use as collateral. The details to fill include, the vehicle make, year of manufacture, series, and model. The cell phone, zip code, and email address might be filled in this section too, though not mandatory. 

Step 2 – Get the loan amount

Software systems process the details of your vehicle and unlike the conventional way of choosing a loan amount, it gives the amount of loan you can borrow. The loan amount depends on the details of your vehicle.

Step 3 – Fill in personal and financial information

Just like many online lenders, personal details and financial information is required. You will be asked to provide details such as official names, home address, driver’s license number, social security number, and estimated credit score, whether or not you own a home, current debt, employment status, and the current income are all required.

When this process is done, the last process is to visit one store and have the vehicle inspected. When the inspection is complete, you’ll fill an application form and if approved, you will be given a contract. If the loan amount suits you sign it and wait for your money.


Title loans are often issued at lower rates compared to payday loans, and so does TitleMax. That said, it’s wise to get a title loan provided you have a vehicle or motorcycle. The fact that you have collateral means you get a chance to get a loan despite having a bad credit score.

Moreover, TitleMax does not lack its flaws too. The first is that unless you are located in South Carolina, you have to take your vehicle for inspection. You also risk losing your vehicle or motorcycle should you run into a financial crisis and unable to repay the loan.

Having read all the terms and conditions, you can sign the TitleMax title loan and start preparing your repayment plan.