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Frequently Asked Questions
Source: http://www.loanmaxlendingservices.com/faq.html 
What is a title loan?
A title loan is a convenient way for someone, who owns their car without any liens, to accesscredit using the equity in their vehicle. It allows consumers to use an asset they own (their vehicle) to solve short-term cash flow problems without having to sell their car.
How does it work?
Take your vehicle and lien-free title to a LoanMax location or one of its affiliates. We willappraise your vehicle and request you fill out an application. Based on the appraisal of your vehicle and your ability to repay, LoanMax will determine the cash amount for which you mayqualify. LoanMax will hold your title while you keep your vehicle and get the cash you need.
What if I have bad credit?
Your credit history has no effect on the approval process, nor will it be affected by applying for atitle loan. We at LoanMax believe credit scores aren't always a true reflection of a person's credit-worthiness.
How long does it take to receive the cash I need?
Most of the time the transaction will take 20 minutes or less if you are approved.
How do I get my title back?
Your title will be returned to you after paying back the full amount due on your account.
Aren't title loan rates considered high?
When stated in annual terms, title lending services do charge a higher percentage rate than someother financial services. However, when used for short-term needs as intended, a title loan maycost a lot less than other alternatives such as, late fees, overdraft fees, missing work, a negativecredit report, a lost job opportunity, moving expenses because of a missed rent, mortgage or tax payment, and selling your vehicle.
What if I cannot payoff my account balance?
We will do everything we can to work with you toward paying off your balance as quickly as possible. If you need more time, we do not charge late fees, over the limit fees or capitalizeinterest. You are charged simple daily interest for each day you hold an outstanding principal
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