Are Online Title Loans Better Than Brick and Mortar?
Absolutely. Though it depends on whether you favor saving a lot of money or needing money as fast as possible. Online title loans are much more affordable but it can take a little longer to get your money due to not having an employee handling your documents in person. However, if you have your documents prepared and ready, you can get your money just as fast as you could in a brick and mortar establishment.
Why Online Title Loans Are Better
- Lower more flexible payments starting
- Payments continue to lower every month as the interest rate drops with every on-time payment
- Last payments could be 50% less from where they began!2
- Borrow more money at your current interest rate1,2
- You can increase your credit score!
- No need for an in-person vehicle inspection
- Provide a few simple documents and upload online
- No long lines to wait in
- Do from the comfort of your own home
Why You Would Choose a Brick and Mortar Location
In-person at a brick and mortar location, you will be able to get your check on the spot. There’s no need for sending the money by way of money gram or direct deposit. Just get you your check and deposit in your nearest bank location.
What Are the Cons of Getting Title Loans From a Brick and Mortar Store?
- You must drive to the store to meet face to face
- Provide documents in person as well as have the vehicle present
- Interest rates are higher
- Vehicle must be inspected on the spot by a loan officer
- Pay a lot more in the end!
What States Allow Online Title Loans?
Almost the entire United States allows online title loans. Soon this will change, however, because there is a new federal program that will make it legal to get a title loan anywhere.
Online Title Loans Are Available in the Following States:
Break Down About the Online Title Loan Process
Other title loan companies usually begin with an interest rate of 200-400%. Max Cash Title Loans begins with a much lower rate of around 65%-175%.1
A lot of title loan companies keep a fixed interest rate throughout the entire life of the loan. With Max Cash Title Loans, the rate drops with every single successful monthly payment (all the way down to as low as 32%). Your payments could eventually be 50% lower than when they started!2
Up to 3 Years to Pay Back With No Hidden Fees
Max Cash Title Loans are set with a fixed 3-year term. However, you can always pay off the loan earlier. Also, there are no hidden fees throughout the entire life of the loan. What you see is what you get.
Borrow More at a Discounted Interest Rate
You can potentially borrow more money at the current interest rate of the loan. This works as a new loan but at a discounted payment amount – because you earned it! That means if you have made on-time payments and are currently at the lowest interest rate, you may qualify to get more cash at this low rate!
A Chance to Potentially Increase Your Credit Score
Another excellent benefit of Max Cash is that it can reestablish good credit by increasing your credit score. Other title loans are designed to make it almost impossible to pay back the loan, but Max Cash’s low-interest approach makes paying back the loan a simple and painless process. Simply by providing payments on time, you’ll be able to pay the loan back faster as the interest rate decreases. Then sit back and watch your credit score increase! This is an excellent opportunity because Max Cash Title Loans reports to all major credit bureaus.
No In-Person Vehicle Inspection
Many other title loans require an in-person vehicle inspection. The title loan agent will come out and take different photos inside and outside of your car and even test everything to make sure it works. With Max Cash Title Loans in California, all that is required are a few simple documents including pictures of your car which you can take with your phone; and pictures of documents such as proof of insurance and a residential address. You can take all of these on your own and simply upload them online.
3 Simple Steps to Secure a Loan Today
- Apply for the loan
- Get approved
- Get your money!
Use Max Cash’s simple and handy car title loan calculator to discover how much your first payment amount may be.
Need More Information on How Title Loans Work?
The process of getting a title loan can seem confusing at first. Max Cash offers this complete step-by-step guide that covers how title loans work. Also, take a look at our frequently asked questions to see if we can better assist you!