I took out a loan with these a*****e sharks almost 3 years ago and lived in fear every month that they would repo my car if I was even a day late. Rest assured that if you made the same mistake and borrowed money from these motherf***ers you are as retarded as I was BUT you also really do not risk repossession until you're 40+ days past your payment date (or roughly 70+ days behind).
I took out a loan with my car title because of an emergency and I was told that it could be paid off in 3 months. That was a lie because the interest is ridiculous and too high to manage for a person under financial distress.
First due not use this service unless you are prepared to lose your car or pay hundreds of dollars in hidden interest (CSO fees). These places pray upon the people who can least afford to pay and do what they can to insure you have to keep refianacing your loan, paying crazy fees for small loans while never touching the principal. My story, I needed 700.00 to pay some bills and thought this would be a good option so I called Loan Max and asked what the interest rate was and it was about 24% per year , a little high but thought thats okay I will be able to make that over the 2 month loan term. What they dont tell you over the phone is that there is a 350.00 cso fee for Loan Max to do the paper work, which takes a grand total of about 5 minutes. Well, once there I reluctantly agreed to this because I was stuck and needed the cash . They structure the loan so that they are pretty sure you wont be able to pay it off and will have to refinance it over and over. Unless you have a cash windfall coming, if you need 700 this month your probably going to need it next month and the month after. Payments were scheduled at first month about 250.00 --2nd month about 810.00 nice huh, for a 700.00 loan. Dont care what kind of creative name they call it(cso fee) thats 600% interest per year. But wait , heres where they they can really rake you over the coals. On page one of your security agreement it tells you if you are more than 10 days late with your payment they will charge you a max of a 15.00 late fee. So while you think there is a grace period more or less, if you read through the other 19 pages of loan documents you will find a little sentence that says , you are in default if you fail to keep any promise you made under this agreement , at which point the lender declares the whole balance due . So now you go in to make your 250.00 payment a few days late and find out you have to now take out a new loan for 850.00 with another 375.00 cso fee so now you owe 1225.00 for the new loan plus the 250.00 you just paid them for a total 1425.00 after approximatlely 34 days after borrowing 700.00. If there is no grace period why is this late fee even stated in the contract? This is mis leading and deceptive at best. STAY FAR AWAY FROM THIS PLACE.
I Elizabeth G, have been misinformed about my payment which I thought I was doing which she did not explain she said it would be 336.00 of interest not payment.and whatever I else I could give but they wanted the interest payment first. Which at this time I can't afford due to husband lost job and am the only one working I told them all that .that when starting getting behind with harassing calls and texts from one of the worker's own phone and calls at work I tried telling them I was working on getting another job just to pay them and that's my only way I get around is with my Vehicle.please help
I needed to get a loan to pay my rent and I had seen a commercial for loan max and it stated that they just need a DL and title to get a laon, so I went in and borrowed $1,800 and was told that my payments would be $270 a month and that I can have that paid off in no time and get my title back. On the 3rd payment I asked how much I owed on the loan and I was told that I still owe the full $1,800 because I'm only paying the principle and I asked why that wasn't explained to me at the time of the initial loan and the person on the phone couldn't give me an answer, she just said "I don't know, they are supposed to tell you before youu sign." 6 months later and I'm still paying the principle, as soon as I get my taxes I'm going to pay them off, get my title back and tell everyone I know to never go to them. If I had kniwn that i was going to have to keep paying all this money and none of it would go towards my loan, I would have never signed!
I Went to Loan Max (Canton, Oh) location for a title loan in the fall of 2014, for a loan of $500.00 for a 2002 Chey Impala, value at $2500. I continue to pay on the title loan through 2014 and 20015. I was undale to continue the payments during 2015 and 2016, however, I desicided to forefitt the car inchange for the remaining balance. At the time of this August 9th 2016 transaction, the car was vaule at $975.00 and requested that Loan max provided me with an closing Balance with should have been (0), and that no further legal action will be presuit for the remaining balance for the intial loan of $500. I was inform at the time of the forefiture that I would be reciceving a update regarding the title loan within two weeks via U.S. mail to my current address. Its been over a month and still have not recieve this conformation regarding the forefiture transaction or an undate regarding the closure of the title loan that in my name. To make matter worste, I have trying to reach the canton office reagring this matter, and Phone calls are going to vocie mail, which is full, and no way of contacting anyone regarding this issue.
A year ago I was referred to LoanMax by a friend who knew I was in a money crunch. I live in NC but the closest one was just across the state line in Virginia. I called their office and spoke with a individual about the most I could get and what items I needed. Shotly thereafter, I went to Virginia and signed for a loan of $1,715.00. I paid little attention to the big 235% interest payment on the front page of the loan documents because I was really needed the funds, or at least thought I really needed it. In hindsight, I would have never agreed to such outrageous terms on a loan, but I was a fool. Now that same $1,715 is going to cost me $4,500 plus court costs after LoanMax sued me in Small Claims Court in NC.
My advice to anyone reading this would be to thoroughly seek other ways to obtain the money you need. After my defeat in court, which I admitted that I obtained the loan in good faith, the worst part was the lack of respect their legal reps showed me during the proceedings. They were straight cutthroats, even after I agreed that I owed the money. But the entire business is shady to begin with. Before I defaulted on the loan, a mysterious car stopped in front of my house, and someone began taking pictures of my vehicle. A day later, LoanMax called and inquired about the vehicle, even asking was it in working condition?
Shortly thereafter, I was sued and when presented the option to either repossess the vehicle or get the money, they naturally chose taking the money. After reading up on Virginia law, I realized that had they sent a repo man to take the car, whatever the value of the vehicle was would close our deal, unless they sold it for more than the amount I owed on the loan. I guess their thinking was, they were not going to get the max amount owed on the loan by repoing my vehicle, so they sued me in court instead. I also learned that LoanMax was only allowed to loan me a certain percentage of what my vehicle was worth at the time. According to Kelley Blue Book, my vehicle at the time was worth roughly $1,900, give or take a few hundred. But I was glad to get the loan now I'm sad that I got the loan. Once again my advice is don't do it if you really do not have to. I now have a judgment on my credit and a payment plan to these sharks.
I just want to warn people about loan max. This place must be run by the devil himself. When I got laid off of work things became pretty rough at my house. We barely had money for gas let alone rent and other necessities. One of my four children is autistic and requires traveling to many appointments so there goes the gas. Well to get to my point, in desperate hard times I had to take out a loan on my truck through loan max in appleton. Boy was that a mistake. I needed rent money so I took out a 400 dollar loan on my truck. Well that was 10 months ago and I've paid them over 1200 just in interest. That has left my family and I struggling to now try and keep our only vehicle as well as other rent and utilities in good standing. They really take advantage of people and don't care anything about your situation. On top of that the office people are the rudest they can be. This company is a joke and I beg anyone that hits hard times to stay away from loan max. It's not worth it. It's like dealing with the devil and in the long run you are going to be screwed. Unless they take your car first.....
LoanMax Title Loans Reviews
I took out a loan with these a*****e sharks almost 3 years ago and lived in fear every month that they would repo my car if I was even a day late. Rest assured that if you made the same mistake and borrowed money from these motherf***ers you are as retarded as I was BUT you also really do not risk repossession until you're 40+ days past your payment date (or roughly 70+ days behind).
I took out a loan with my car title because of an emergency and I was told that it could be paid off in 3 months. That was a lie because the interest is ridiculous and too high to manage for a person under financial distress.
First due not use this service unless you are prepared to lose your car or pay hundreds of dollars in hidden interest (CSO fees). These places pray upon the people who can least afford to pay and do what they can to insure you have to keep refianacing your loan, paying crazy fees for small loans while never touching the principal. My story, I needed 700.00 to pay some bills and thought this would be a good option so I called Loan Max and asked what the interest rate was and it was about 24% per year , a little high but thought thats okay I will be able to make that over the 2 month loan term. What they dont tell you over the phone is that there is a 350.00 cso fee for Loan Max to do the paper work, which takes a grand total of about 5 minutes. Well, once there I reluctantly agreed to this because I was stuck and needed the cash . They structure the loan so that they are pretty sure you wont be able to pay it off and will have to refinance it over and over. Unless you have a cash windfall coming, if you need 700 this month your probably going to need it next month and the month after. Payments were scheduled at first month about 250.00 --2nd month about 810.00 nice huh, for a 700.00 loan. Dont care what kind of creative name they call it(cso fee) thats 600% interest per year. But wait , heres where they they can really rake you over the coals. On page one of your security agreement it tells you if you are more than 10 days late with your payment they will charge you a max of a 15.00 late fee. So while you think there is a grace period more or less, if you read through the other 19 pages of loan documents you will find a little sentence that says , you are in default if you fail to keep any promise you made under this agreement , at which point the lender declares the whole balance due . So now you go in to make your 250.00 payment a few days late and find out you have to now take out a new loan for 850.00 with another 375.00 cso fee so now you owe 1225.00 for the new loan plus the 250.00 you just paid them for a total 1425.00 after approximatlely 34 days after borrowing 700.00. If there is no grace period why is this late fee even stated in the contract? This is mis leading and deceptive at best. STAY FAR AWAY FROM THIS PLACE.
I Elizabeth G, have been misinformed about my payment which I thought I was doing which she did not explain she said it would be 336.00 of interest not payment.and whatever I else I could give but they wanted the interest payment first. Which at this time I can't afford due to husband lost job and am the only one working I told them all that .that when starting getting behind with harassing calls and texts from one of the worker's own phone and calls at work I tried telling them I was working on getting another job just to pay them and that's my only way I get around is with my Vehicle.please help
I needed to get a loan to pay my rent and I had seen a commercial for loan max and it stated that they just need a DL and title to get a laon, so I went in and borrowed $1,800 and was told that my payments would be $270 a month and that I can have that paid off in no time and get my title back. On the 3rd payment I asked how much I owed on the loan and I was told that I still owe the full $1,800 because I'm only paying the principle and I asked why that wasn't explained to me at the time of the initial loan and the person on the phone couldn't give me an answer, she just said "I don't know, they are supposed to tell you before youu sign." 6 months later and I'm still paying the principle, as soon as I get my taxes I'm going to pay them off, get my title back and tell everyone I know to never go to them. If I had kniwn that i was going to have to keep paying all this money and none of it would go towards my loan, I would have never signed!
I Went to Loan Max (Canton, Oh) location for a title loan in the fall of 2014, for a loan of $500.00 for a 2002 Chey Impala, value at $2500. I continue to pay on the title loan through 2014 and 20015. I was undale to continue the payments during 2015 and 2016, however, I desicided to forefitt the car inchange for the remaining balance. At the time of this August 9th 2016 transaction, the car was vaule at $975.00 and requested that Loan max provided me with an closing Balance with should have been (0), and that no further legal action will be presuit for the remaining balance for the intial loan of $500. I was inform at the time of the forefiture that I would be reciceving a update regarding the title loan within two weeks via U.S. mail to my current address. Its been over a month and still have not recieve this conformation regarding the forefiture transaction or an undate regarding the closure of the title loan that in my name. To make matter worste, I have trying to reach the canton office reagring this matter, and Phone calls are going to vocie mail, which is full, and no way of contacting anyone regarding this issue.
A year ago I was referred to LoanMax by a friend who knew I was in a money crunch. I live in NC but the closest one was just across the state line in Virginia. I called their office and spoke with a individual about the most I could get and what items I needed. Shotly thereafter, I went to Virginia and signed for a loan of $1,715.00. I paid little attention to the big 235% interest payment on the front page of the loan documents because I was really needed the funds, or at least thought I really needed it. In hindsight, I would have never agreed to such outrageous terms on a loan, but I was a fool. Now that same $1,715 is going to cost me $4,500 plus court costs after LoanMax sued me in Small Claims Court in NC.
My advice to anyone reading this would be to thoroughly seek other ways to obtain the money you need. After my defeat in court, which I admitted that I obtained the loan in good faith, the worst part was the lack of respect their legal reps showed me during the proceedings. They were straight cutthroats, even after I agreed that I owed the money. But the entire business is shady to begin with. Before I defaulted on the loan, a mysterious car stopped in front of my house, and someone began taking pictures of my vehicle. A day later, LoanMax called and inquired about the vehicle, even asking was it in working condition?
Shortly thereafter, I was sued and when presented the option to either repossess the vehicle or get the money, they naturally chose taking the money. After reading up on Virginia law, I realized that had they sent a repo man to take the car, whatever the value of the vehicle was would close our deal, unless they sold it for more than the amount I owed on the loan. I guess their thinking was, they were not going to get the max amount owed on the loan by repoing my vehicle, so they sued me in court instead. I also learned that LoanMax was only allowed to loan me a certain percentage of what my vehicle was worth at the time. According to Kelley Blue Book, my vehicle at the time was worth roughly $1,900, give or take a few hundred. But I was glad to get the loan now I'm sad that I got the loan. Once again my advice is don't do it if you really do not have to. I now have a judgment on my credit and a payment plan to these sharks.
I just want to warn people about loan max. This place must be run by the devil himself. When I got laid off of work things became pretty rough at my house. We barely had money for gas let alone rent and other necessities. One of my four children is autistic and requires traveling to many appointments so there goes the gas. Well to get to my point, in desperate hard times I had to take out a loan on my truck through loan max in appleton. Boy was that a mistake. I needed rent money so I took out a 400 dollar loan on my truck. Well that was 10 months ago and I've paid them over 1200 just in interest. That has left my family and I struggling to now try and keep our only vehicle as well as other rent and utilities in good standing. They really take advantage of people and don't care anything about your situation. On top of that the office people are the rudest they can be. This company is a joke and I beg anyone that hits hard times to stay away from loan max. It's not worth it. It's like dealing with the devil and in the long run you are going to be screwed. Unless they take your car first.....