ED Magedson – Founder
TitleMax of Texas Inc DBA TitleMax1233 S. State Highway 121 Lewisville, Texas USA
TitleMax of Texas Inc DBA TitleMax Took out on a loan from the title of my truck Lewisville Texas
I took out a loan with TitleMax in Lewisville, Texas for $2,000 with the title for my Toyota truck. Upon signing all documents, TitleMax never explained to me the horrendous interest/finance charge. After paying over $300 per month for 6 month which was more than the minimum payment they required I had successfully paid my loan back. I estimated my interest fee would be around $400-$500. When I asked what the cost would be to close out my loan they told me $2,000! So TitleMax makes $2,000 off of me for a $2,000 loan paid back in 6 months. I was furious. I had no idea it would be that much. If I continued to pay $300 per month for another 6 months my loan would still not be paid off because I would have incurred another $1,800 in interest. That would put me at paying them close to $4,000 back. Highway robbery!! Luckily,my sister paid the $2,000 so I am out of their clutches. Don't get suckered in by TitleMax. They are a total rip off!
This report was posted on Ripoff Report on 05/31/2014 09:56 PM and is a permanent record located here: http://www.ripoffreport.com/r/TitleMax-of-Texas-Inc-DBA-TitleMax/Lewisville-Texas-75067/TitleMax-of-Texas-Inc-DBA-TitleMax-Took-out-on-a-loan-from-the-title-of-my-truck-Lewisvil-1151191. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.
If you would like to see more Rip-off Reports on this company/individual, search here:Search Tips
In order to assure the best results in your search:
Advertisers above have met our
strict standards for business conduct.