What is a title loan?
A title loan is a fast and convenient way for anyone, who owns a vehicle without liens, to get cash using the vehicle as collateral. It allows consumers to use the car they own to solve short-term cash flow problems without having to sell their vehicle.
How does it work?
- Take your vehicle and lien-free title to Cash Max office.
- CashMax appraises your vehicle.
- Based on the appraisal, CashMax determines the amount of money to advance to you.
- CashMax holds your title.
- You get the funds you need the same day, and you get to keep your vehicle.
What if I have bad credit?
Your credit history is not a factor in the title loan approval process. Your credit will not be affected by applying for a title loan or after getting a cash advance. If you have filed for bankruptcy protection in the past, Cash Max is here to help you solve your short-term cash needs.
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 and have the following:
- Lien-free title - All persons on the title must be present at the time of the transaction
- Working phone/cell phone
- Spare key
- Drivers License, or equivalent
- Verification of residency - Recent utility bills, copy of rental agreement, and a cell phone bill are some examples.
- It is best to call during business hours and speak with a customer service representative to be certain you have all the correct items.
You do not need good credit. Cash Max does not check your credit or use your credit history in any way in the approval process.
*Approval subject to vehicle inspection and appraisal.
*Please contact Cash Max location for any exceptions to the requirements listed above.
Does the car title have to be in my name?
Yes. The title to the vehicle must have you listed as the legal owner of the car you intend to use as collateral for the transaction. If there is anyone else listed on the title, they must be present as well.
How do I know if I will be approved?
The best way to know if you will be approved to get cash is to bring the items required to complete a title transaction listed above to a Cash Max location and complete a customer application. Cash Max will evaluate your vehicle and application and let you know in about 15 minutes whether you are approved and how much money is available to you.
How much money can I borrow?
Cash advance amounts range from $250 up to $10,000. The amount available is based on the vehicle appraisal.
How long does it take for me to get cash?
If you have all of the items required to complete a transaction with you when you come into a Cash Max location, the whole process from application to receiving the funds will take about 15 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. *Restrictions apply.
Why acquire cash from a title lender?
A title transaction enables you to acquire cash 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 do not base their decision on credit. Cash Max transactions are non-recourse, don't allow for deficiency balances.
What if I am late with a payment?
If you are seriously late or non-responsive, vehicle repossession could occur. However, Cash Max considers repossession a last resort because repossessions are expensive and time-consuming. Cash Maxreturns excess proceeds from vehicle sales to the customer.
Why choose Cash Max?
You don't have to sell your car. Cash Max gives you an alternative to having to sell your car in a time of financial need.
What are your hours of operation?
Store locations are open 10AM – 7PM Monday through Friday and from 10AM – 6PM on Saturday and Sunday
