TitleMax Review
title-loan from $300 to $10,000
Fast approval • Secure application • No commitment
TitleMax at a Glance
About TitleMax
Founded in 1998 and headquartered in Savannah, Georgia, TitleMax is America's largest title loan lender with over 1,100 store locations across 18 states. As a direct lender operated by TMX Finance LLC, TitleMax specializes in secured auto title loans where your vehicle serves as collateral, allowing you to borrow $300 to $10,000 while continuing to drive your car.
Unlike unsecured payday loans that rely solely on your income, title loans use your car's value to determine loan amounts. TitleMax appraises your vehicle (car, truck, motorcycle, or RV) and typically lends 25-50% of its wholesale value. You keep driving your vehicle during the loan term—TitleMax simply places a lien on the title until you repay. This collateral-based model allows TitleMax to approve borrowers with bad credit or no credit, as the loan is secured by your asset.
TitleMax's application process takes about 30 minutes at a store location. Bring your vehicle (for inspection and appraisal), the vehicle's title in your name, a valid ID, proof of income, and proof of residence. Most applicants are approved the same day and receive cash within 1 hour. For online applicants, TitleMax offers prequalification where you submit photos of your vehicle and title, receive an estimate, then visit a store to finalize the loan and get cash.
With a 7.6/10 rating, 38% approval rate, and over 25 years in business, TitleMax is a well-established player in title lending. APRs range from 100-300% (significantly lower than unsecured payday loans at 400-600%), but the trade-off is risk: if you default on payments, TitleMax can repossess your vehicle. Title loans should only be used for large emergencies ($2,000+) when you've exhausted unsecured options and are confident you can repay within 3-24 months to avoid losing your car.
Expert Opinion: Recommended with Caution
TitleMax is the best option for borrowers who need $2,000-$10,000, own a vehicle outright, and cannot qualify for unsecured loans due to bad credit or lack of credit history. The 100-300% APRs are significantly lower than payday loans (400-600%), and the longer repayment terms (3-24 months) make payments more manageable. However, the risk of losing your vehicle if you default is serious—repossession eliminates your transportation, potentially jeopardizing your job and worsening your financial situation. We recommend TitleMax only if (1) you've been declined for unsecured installment loans from MoneyLion, OppFi, or NetCredit; (2) you need $2,000+ for a genuine emergency (medical bill, urgent home repair); (3) you have a clear repayment plan and stable income to afford monthly payments; and (4) you're willing to risk your vehicle. Before using TitleMax, exhaust these alternatives: personal loans from credit unions (6-18% APR), peer-to-peer lending (Prosper, LendingClub), payment plans with creditors, home equity lines of credit (if you own a home), or family loans. If you do use TitleMax, borrow only what you need, choose the shortest term you can afford, and prioritize payments to avoid repossession. Never use title loans for non-essential expenses like vacations or luxury items—the risk of losing transportation is too great.
Example Loan Cost
Representative example of a typical TitleMax loan:
*This is a representative example only. Your actual APR and costs will depend on your credit profile, loan amount, and state regulations. Always review your loan agreement before accepting.
Pros & Cons of TitleMax
Advantages
- ✓ Highest loan amounts in payday category ($300-$10,000 based on vehicle value)
- ✓ Lower APR than unsecured payday loans (100-300% vs. 400-600%)
- ✓ Keep driving your vehicle during the loan term—only the title is held as collateral
- ✓ 1,100+ store locations across 18 states for in-person service
- ✓ Same-day approval and cash within 1 hour at store locations
- ✓ Bad credit or no credit accepted—secured loans based on vehicle value, not credit score
- ✓ Flexible repayment terms (3-24 months) make payments more manageable
- ✓ Over 25 years in business with established reputation
Disadvantages
- ✗ Risk of vehicle repossession if you default on payments
- ✗ APR range (100-300%) still significantly higher than traditional auto loans (4-8%)
- ✗ Must own your vehicle outright with a clear title (no existing liens)
- ✗ Available in only 18 states—limited geographic coverage
- ✗ 38% approval rate lower than unsecured lenders (depends on vehicle value and condition)
- ✗ In-store application required for finalization—cannot complete 100% online
- ✗ Late payment fees and repossession costs can add significantly to debt
- ✗ Lose transportation if unable to repay—severe consequences for missed payments
How to Apply for a TitleMax Loan
Start Your Application
Visit TitleMax's website or use our comparison tool to submit your application. You'll need basic personal information, employment details, and bank account information.
Get Approved
TitleMax will review your application and make a lending decision within 24 hours. You'll receive notification via email or SMS.
Review & Accept
Carefully review the loan terms, including APR, fees, repayment schedule, and total cost. Only accept if you understand and agree to all terms.
Receive Funds
Once you accept the loan, TitleMax will deposit funds directly into your bank account. Funds typically arrive within 24 to 48 hours.
Frequently Asked Questions
How do I apply for a TitleMax loan?
Step 1: Visit titlemax.com and fill out the online prequalification form with your vehicle information (year, make, model, mileage) and upload photos of your car and title. TitleMax will provide an estimated loan amount within minutes. Step 2: Visit your nearest TitleMax store (find locations at titlemax.com/locations) with your vehicle, the vehicle's title in your name, a valid government-issued ID, proof of income (paystub or bank statement), and proof of residence (utility bill). Step 3: A TitleMax specialist will inspect your vehicle, verify your documents, and finalize the loan. Most approvals happen within 30 minutes, and you'll receive cash or a check the same day.
What are the requirements for a TitleMax loan?
You must be at least 18 years old, own a vehicle (car, truck, motorcycle, or RV) with a clear title in your name (no existing liens), have a government-issued ID, show proof of income (job, self-employment, disability benefits, or retirement income), and provide proof of residence (utility bill or lease). Your vehicle must be in working condition and pass a basic inspection. TitleMax does not require a minimum credit score—approval is based on your vehicle's value and your ability to repay. Vehicles with salvage titles, significant damage, or very high mileage may not qualify.
How fast can I get money from TitleMax?
In-store applicants who bring all required documents typically receive same-day approval within 30 minutes and walk out with cash within 1 hour. Online prequalification provides an estimate within minutes, but you must visit a store to finalize the loan and receive funds. TitleMax does not offer fully online funding—in-person vehicle inspection and title verification are required for all loans. Store hours are typically Monday-Saturday 9 AM-7 PM and Sunday 10 AM-5 PM (varies by location).
What is the APR for TitleMax loans?
TitleMax's APR ranges from 100% to 300% depending on your state, loan amount, repayment term, and vehicle value. This is significantly lower than unsecured payday loans (400-600% APR) because title loans are secured by your vehicle. For example, a $5,000 title loan at 200% APR repaid over 12 months would have monthly payments of approximately $750 and total repayment of about $9,000 ($4,000 in interest). State regulations cap APRs in some states—Georgia limits title loans to 25% per month (300% APR), while other states allow higher rates.
Can I get a TitleMax loan with bad credit?
Yes, TitleMax approves borrowers with bad credit, no credit history, past bankruptcies, or even active collections. Because title loans are secured by your vehicle's value, TitleMax does not require a minimum credit score. However, they will verify your income to ensure you can afford the monthly payments. Having bad credit will not result in higher APRs at TitleMax—rates are based on state regulations, loan amount, and term, not your credit score. The primary qualification is owning a vehicle with sufficient value and having verifiable income.
Is TitleMax a direct lender or broker?
TitleMax is a direct lender operated by TMX Finance LLC. They use their own capital to fund loans and make all lending decisions in-house. TitleMax is licensed in each of the 18 states where they operate and complies with state-specific title lending regulations. You work directly with TitleMax from application through repayment—they do not sell your loan to third parties or act as a broker.
What happens if I can't repay my TitleMax loan?
If you miss a payment, TitleMax will charge a late fee (typically $25-$50) and attempt to contact you to arrange payment. Continued missed payments can result in default, at which point TitleMax has the legal right to repossess your vehicle. Repossession typically occurs after 60-90 days of non-payment, though timelines vary by state. Once repossessed, TitleMax can sell your vehicle at auction to recover the debt. If the sale doesn't cover the full balance, you may still owe the deficiency. To avoid repossession, contact TitleMax immediately if you're struggling to pay—they may offer payment extensions, refinancing, or modified payment plans.
What states does TitleMax operate in?
TitleMax has store locations in 18 U.S. states: Alabama, Arizona, Georgia, Illinois, Louisiana, Mississippi, Missouri, Nevada, New Mexico, Ohio, South Carolina, Tennessee, Texas, Virginia, Wisconsin, Delaware, Florida, and Kansas. They are NOT available in states where title lending is banned or heavily restricted, including California, New York, Pennsylvania, New Jersey, Massachusetts, and many others. Check titlemax.com to confirm if there's a location near you.
Alternatives to TitleMax
While TitleMax is a solid choice, you may also want to consider these alternatives:
- → Credit Union Payday Alternative Loans (PALs) – Lower APRs (28% max) but slower approval
- → Installment Loans – Longer terms (6-24 months) with smaller monthly payments
- → Cash Advance Apps – $50-$250 advances with low/no fees (Earnin, Dave, Brigit)
- → Compare Other Lenders – See all 30 lenders in our network
Ready to Apply with TitleMax?
Get started in minutes. Fast approval, secure application, no commitment.
Apply Now at TitleMax →⚠️ Important Disclosure
High-Cost Loan Warning: TitleMax loans have APRs ranging from 100% to 300%, which is significantly higher than traditional bank loans. These loans are intended for short-term financial needs only and can be expensive if not repaid quickly.
Responsible Borrowing: Only borrow what you can afford to repay on time. Late or missed payments can result in additional fees, collection actions, and damage to your credit score.
Editorial Independence: Credizen.net is a comparison service. We may earn a commission when you click on lender links or apply for a loan through our platform. All reviews and ratings are based on publicly available data and user feedback. TitleMax has not influenced this review.
Emergency Financial Help
If you're experiencing financial difficulties, contact your local financial counseling service.
- South Africa: National Credit Regulator - 0860 627 627
- Romania: ANPC - 0213142200
- Colombia: Superintendencia Financiera - (571) 594 2222
- Poland: KNF - 22 262 5000