Loanmax Title Loans – 602 Broadway Dr
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LoanMax Title Loans is a nationwide auto-title lending network that provides short-term cash loans secured by a vehicle title. The organization traces its origins to the early 1990s, growing through a franchise-like model that expanded across multiple states, including Mississippi. Its principal function is to offer borrowers liquidity by using the equity in their vehicles as collateral, typically with a focus on customers seeking rapid access to funds and who may have limited access to traditional credit sources. The firm operates through local storefronts and online platforms, emphasizing straightforward title-pawn transactions and related services that revolve around collateralized lending. In Mississippi, LoanMax operates within a regulatory framework that governs title loans and consumer credit, guiding accepted forms of repayment, loan terms, and disclosures. The organization’s scope includes member locations that provide cash loans, vehicle title evaluations, and automated processes for loan origination, underwriting, and repayment tracking, all aimed at facilitating access to funds while managing risk associated with collateralized lending.
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Map Location
Services this business provides
Loan agency
Contact Information
Address
602 Broadway Dr, Hattiesburg, MS 39401
Phone
(601) 33-63-017Website
www.loanmaxtitleloans.netFrequently Asked Questions about Loanmax Title Loans
LoanMax Title Loans was founded in 1990. This founding year appears across multiple Mississippi locations, including Jackson and Biloxi, and is consistently cited in business directories and the company’s location pages. For precise Mississippi founding details by state legislation or corporate records, see the company’s official site or state business registries.
LoanMax Title Loans operates multiple Mississippi locations, including Hattiesburg at 602 Broadway Dr, and nearby areas such as Jackson, Meridian, Laurel, and Biloxi, offering car-title loans to qualifying customers. Their services center on cash loans secured by the borrower’s vehicle title, often with same-day funding options, and they accept cash, checks, debit cards, and Western Union for payments. For the latest store list and hours, visit the official LoanMax site or local directories.
Mississippi title loans typically have these common terms: loan amounts capped around $2,500, secured by a lien on the vehicle, with repayment periods ranging from 30 days for single-payment loans to several months or more for installment loans, and annual percentage rates that can be high (often 75%–200% APR or higher depending on the lender and term). There is generally no credit check, but lenders may require a clear, lien-free title in the borrower's name and proof of income. For specifics, check the lender’s terms and Mississippi state requirements.
Title loans in Mississippi use the vehicle you own as collateral. If the loan isn’t repaid, the lender can repossess the car, sell it, and apply proceeds to the debt, plus any fees. Mississippi requires title loan contracts to disclose vehicle details, borrower information, loan amount, due date, and total due, including charges and interest, with terms typically around 30 days and options to roll over only if the principal is reduced.
Key protections and limits exist:
- The Title Pledge Act governs terms, disclosures, and consumer protections in Mississippi. Contracts must clearly state collateral details and loan terms.
- Extensions generally require reducing the principal or paying a portion of it; lenders cannot extend by paying only interest in a way that preserves the loan balance indefinitely. For more details on specific lenders, review their Mississippi-registered locations and disclosures.
Key protections and limits exist:
- The Title Pledge Act governs terms, disclosures, and consumer protections in Mississippi. Contracts must clearly state collateral details and loan terms.
- Extensions generally require reducing the principal or paying a portion of it; lenders cannot extend by paying only interest in a way that preserves the loan balance indefinitely. For more details on specific lenders, review their Mississippi-registered locations and disclosures.
Mississippi regulates title lenders under the Title Pledge Act. Key rules require lenders to be licensed for each location, set by the Mississippi Department of Banking and Consumer Finance, and govern loan terms, interest caps, renewal limits, and fees. Consumer protections include clear disclosures, limits on default actions, and a defined maximum loan term (typically up to 30 days) with capped interest rates.
Where to learn more:
- Mississippi Title Pledge Act and licensing requirements .
- Mississippi Department of Banking and Consumer Finance contact for licensing and consumer inquiries.
Where to learn more:
- Mississippi Title Pledge Act and licensing requirements .
- Mississippi Department of Banking and Consumer Finance contact for licensing and consumer inquiries.