Repayment of loan
If you request a personal loan from TitleMax in-store, you can pay weekly, bi-weekly, semi-monthly, or monthly installments. Each payment will include principal and interest, as well as fees. Therefore, you will be required to pay back your debt in full by the final payment stated in your agreement.
You can also opt to pay your personal loan through the Online Customer Portal. For that, you need to send a money order, and the payment will be debited electronically via ACH. Alternatively, contact the Customer Service Center to make a payment by phone.
If you miss your payment, TitleMax will issue a fee. This will accrue on your loan balance and make your debt cost more.
Early payoff
You can opt to pay back your loans early. TitleMax doesn't have a prepayment penalty and even encourages its customers to pay their loans faster.
Early payoff can help you improve your credit score and take loans on better terms next time.
