I went to Titlemax to get cash for my title,after reviewing information,going over paperwork & approval,titlemax offered me $500 for my mini van so I excepted it. While this was back in July of 2011,it is now february 2012 and I'am still paying on this loan,as I pay $83 every month on this loan and have been paying that amount since august of 2011.Which is a total of $492 on past,paid monthly payments.
As I contacted Titlemax to obatin my current pay-off balance they had informed me that it was $405.28. Therefore,after paying of this balance & adding the total of the past months payments,a $500 loan from titlemax 7 months later had actually cost me almost $900.00.
Another problem that I had with Titlemax was that they were very rude and disrespectful.When working with the loan agent she informed me that usually on a $800 loan,you end up paying $1,000 or within that nature. She was very friendly as I was just begining to work with them. As I later found out that when it was within a week of my monthly payment I would get texts messages & phone calls non-stop. If it was on the day my payment was due, they would try to contact me which seemed to be almost every hour on the hour.
I just learned my lesson and glad I was able to pay the loan off and not be bothered with that stress. Never again will I go to them or recomend them to anyone. This place does not need to be lending out loans and expectiing the world in return.They have a way of trying to make you feel as if they own you or they will heavily over charge on a loan.