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Monday, December 5th
Max Cash Title Loans works hard to find the right car title loan for you. It's the only company in our reviews that operates in almost every single state and that goes through an extensive network of lenders to find the right fit for your needs.
Competitive interest rates and loan amounts
While there's a maximum of $25,000 for car title loans through Max Cash, most of their loans are between $500 and $5000. Within their lending network, you can expect loans with interest rates ranging from 30-200% APR, but with no prepayment penalties if you pay it off in advance (and save yourself some money in interest by doing it).
Simple online application
To get started with Max Cash, you'll fill out a short form to get prequalified. You'll need your car's year, make, model and body style, as well as its approximate current mileage. Next, you'll enter your contact information, your monthly income, whether or not you own your vehicle free and clear, and if you agree to the site's terms and conditions. (We love that, on that last part, you can select "Yes, I agree, but do not text me" !)
Different requirements depending on the lender
Once you submit the form, you'll be shown how much you prequalified to borrow - but look fast, because that screen quickly disappears and takes you to the online form to talk with an agent. That may be different depending on where you live: some of Max Cash's lending partners let you do the entire process online, even submitting photos of the car and of the title instead of bringing it in person, while some states still require you to go in person. From there, you'll work with a Max Cash representative to choose the right car title loan available to you.
Excellent customer service team
Max Cash does an excellent job when it comes to customer service. When we went onto the site to find a live chat to ask questions, we were connected right away to an agent at a call center in Houston, Texas. He was able to tell us everything we needed to know about how car title loans work when using Max Cash, and even gave us a link to tons of helpful information we hadn't found on our own (it's the How Car Title Loans Work page, and we encourage you to look for it too!).
Big compliments from clients
One of the questions we asked the agent was about Max Cash's listing with the BBB: a graphic on the site said that Max Cash has an "A+" , but we weren't able to click to go to the corresponding page on the BBB site. He told us that Max Cash is owned by TMG Loan Processing - and while we couldn't find a BBB listing for them either, we did find a lot of praise from their clients elsewhere. We appreciate that Max Cash seems to go the extra mile to find the ideal car title loan (and other types of loans) for their customers: people describe their experience as fast, friendly and uncomplicated. That's what we like to hear!
Best choice for car title loans
Who would have thought that there'd be a company that could make it almost fun to get a car title loan? Max Cash somehow manages to do it. As with any loan, you need to make sure you understand all of the terms and conditions when you sign up, especially since Max Cash will be transferring you to a lender that services your area and not funding your loan themselves. But, all things point to this provider being the best choice for car title loans no matter where you live.
If you're considering a car title loan, chances are good that you've come across some unexpected bills. Maybe your car broke down and you need it fixed quickly to keep your job. Or your roof started to leak after a storm and you can't wait on your insurance adjuster to take months to get the claim paid. Many Americans find themselves in trouble and don't have many options for getting money fast. That's where car title loans come in.
How does this type of loan work? If you own a vehicle free and clear, you can use its title as collateral to secure a short-term loan. The good thing is, you don't have to stop using your car: continue to drive it as you usually would, until the loan is repaid in full and you get the title returned to you.
Car title loans are also attractive because they rarely require you to have a great credit history: you're guaranteeing that you'll repay the loan by borrowing against your car's value, so credit isn't really a factor. Of course, that's one of the downsides too: if you don't pay the loan back, you stand to lose your transportation, and you can't borrow more than your car is worth. That's cool if you're driving a Porsche, but if you drive a 20-year-old beater you might not get much out of a title loan.
Another thing to keep in mind is that car title loans usually have really high interest rates: in the triple digits isn't unheard of. You'd be wise to see if other, lower-interest rate personal loans are a possibility before you turn to a car title loan for your cash needs.
So, all that being said, how can you tell which car title loan provider to use? There are a lot of them out there, and some of them are less-than-reputable in the way they treat customers. Here are a couple of factors to check out before you commit to a car title loan:
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