What is a title loan/pawn?

A title loan/pawn is a quick and convenient way for people who own their car without any liens (i.e., a lien-free title) to get cash using the car as collateral. It allows consumers to use an asset they own (their car) to solve short-term cash flow problems. Without title lending, many consumers would be forced to sell their vehicle in a time of need, probably at a discount.

What is a lien-free title?

A lien-free title means that you own your car outright, with no outstanding loans or judgments against it.

How does it work?

1. Bring your car and lien-free title to TitleMax to use the value of the car as collateral for your transaction.
2. Fill out an application while we appraise your vehicle.
3. We will determine a transaction amount based upon your need and the appraised value of your vehicle.
4. Upon approval, you will receive your funds and retain the use of your vehicle.
5. When you pay off the balance of your account, TitleMax returns your title.

What if I have bad credit?

Don’t worry! TitleMax is here for people with bad credit. In fact, your credit history is not a factor in the title transaction approval process. Your credit will not be affected by applying for a title transaction or after obtaining one.

What is required to be approved for a title transaction?*

To be approved for a title transaction you must be at least 18 years old (19 years old in Alabama) and have the following:

• Car
• Title to your car with no liens
• Proof of a source of income (excluding Alabama)
• Proof of residence
• A government-issued I.D.

You do not need good credit. TitleMax does not check your credit or use your credit history in any way in the approval process.

*Approval subject to vehicle inspection and appraisal.

Does the car title have to be in my name?

Yes. The car title must have you listed as the legal owner of the vehicle that you intend to use as collateral for the transaction. If you are listed on the title along with another person, call the location nearest you to determine whether or not the other person listed on the title has to apply along with you.

How do I know if I will be approved?

The best way to know if you will be approved for a transaction is to bring the items required to complete a title transaction listed above to a TitleMax location and complete a customer application. TitleMax will evaluate your vehicle and application and let you know in about 15 minutes whether you are approved and how much cash is available to you.

How much can I get?

Amounts range from $100 up to $5,000 ($2,500 maximum in Mississippi and Tennessee). The amount available is based upon the vehicle appraisal and your ability to repay.

How long does it take to complete a deal?

If you have all of the items required to complete a transaction with you when you come into a TitleMax location, the whole process will take about 30 minutes.

How do I get my title back?

Your title will be returned to you immediately after paying back the full amount due on your account.

Why acquire funds from a title lender/pawnbroker?

A title transaction enables you to acquire funds based on the value of your car but without actually losing its use. The process is based on collateral, not credit.

Aren't title transaction rates considered high?

Not if you consider that title lenders/pawnbrokers do not base their loan decision on your credit. TitleMax transactions are non-recourse, don't allow for deficiency balances, and don't require collision insurance on the vehicle used as collateral.

What if I cannot pay off my account balance?

Since you keep your car, you always have the right to sell your vehicle to another party, pay off your account, and then keep the excess proceeds from the sale.

What if I am late with a payment?

If you are seriously late or non-responsive, vehicle repossession could occur. However, TitleMax considers repossession a last resort because repossessions are expensive and time-consuming. In the event of a repossession, TitleMax returns excess proceeds from vehicle sales to the customer.

What happens if my vehicle is stolen or is involved in an accident?

If your vehicle should become totaled in an accident or stolen while your title is being held as collateral, you keep your money, and if you don't have collision insurance, TitleMax gets nothing.

Why choose TitleMax?

TitleMax charges up to 50% less than most competitors.

TitleMax gives you the most money for your vehicle.

You get fast approval with no credit checks.

We have over 500 convenient locations.

How do I find the nearest TitleMax location?

There are two ways to find the store location nearest you.

1. Use the Store Locator on the home page of this website or by following this link Store Locator.
2. Call 1-88-TITLEMAX and enter your zip code. You will be routed automatically to the store location nearest you.

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