The few APRs that LoanMax discloses are well into the triple digits, going as high as 372% in South Carolina. We weren’t able to complete an online application through LoanMax’s website and noticed more than a few broken links when looking for more information. If you aren’t able to repay your loan, you may lose your car - which can make a difficult financial situation even worse. While LoanMax title loans come with a few incentives, consider these potential drawback before applying: But watch out: this can make your loan much more expensive. You can roll over your loan up to six times if you aren’t able to afford your payment. In addition to online repayments, LoanMax accepts cash, debit cards, cashier’s checks and money transfers through Western Union. LoanMax is one of the few lenders willing to work with borrowers who have a bankruptcy on their credit report. It can take as little as 20 minutes to get your cash. You don’t need good credit or even a credit history to qualify for a LoanMax title loan. With its fast turnaround and minimal eligibility requirements, there are a few benefits of borrowing from LoanMax: What are the benefits of a LoanMax title loan? But while you can get started on your application online, you’ll have to bring your vehicle to a location for inspection and complete your application, which should take around 20 minutes. In some states, like Texas and Delaware, you might have to pay a lien fee that can range from $28 to $55 on top of the financing charges. Rates vary by state, but you can typically expect APRs well into the triple digits. If you can’t make that repayment, LoanMax lets you roll over your loan up to six times - as long as you can pay off the interest that added up that month. It’s a fast type of financing designed for emergencies: You can may be able to borrow between $100 to $10,000 and pay it back in 30 days. All international money transfer servicesĪ LoanMax title loan is a short-term loan that uses your car’s title as collateral.
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