TitleMax offers same-day title loans and flexible lines of credit secured by vehicle titles, accepting most credit types with quick approval at their Memphis location.
Editorially reviewed by Harvey Brooks
TitleMax is an established title lending company with a Memphis presence dating back to February 2007. The Summer Avenue location serves the greater Memphis area and has built a strong customer base over 17+ years of operation. The company specializes in vehicle title-based lending, allowing customers to borrow against the equity in their cars while retaining driving privileges.
The Memphis TN 9 store offers two primary products: Title Pledge loans (secured by vehicle title) and unsecured Flexible Lines of Credit. For title pledges, customers provide a clear vehicle title, valid government ID, and the lender evaluates vehicle value and repayment ability. The unsecured line of credit product requires proof of active banking and income, accepting applications online and in-store. Both products emphasize quick approval and same-day cash availability, with the company accepting most credit types rather than relying solely on credit scores.
The Memphis location distinguishes itself through consistent bilingual service availability, extended weekday hours (7 pm closings Monday and Friday), and a substantial customer review presence with 481+ Google reviews at a 5.0/5 average rating. Individual staff members, particularly Nicole, are specifically highlighted across multiple reviews for professionalism and customer education. The location offers personal interaction and in-person application processing, which some customers may prefer for secured lending decisions.
However, title loans carry inherent risks: if borrowers fail to repay, the lender can repossess the vehicle used as collateral. While the website emphasizes competitive rates and manageable payments, it does not disclose specific APR ranges, origination fees, or late-payment penalties. This is a high-cost emergency borrowing option best suited for borrowers with significant equity in their vehicles, stable income, and full understanding of repossession risk.
See which lenders actually approve borrowers with bad credit. We compared APRs, fees, minimum scores, and funding speed.
Yes. TitleMax Title Loans is a registered company headquartered in 2110 N Galloway Ave Suite 111, Mesquite, TX 75150. They hold a NR rating with the Better Business Bureau.
CreditDoc Diagnosis
TitleMax's Memphis location is best for vehicle owners facing urgent financial needs who have clear title to a car with equity and stable repayment ability. The critical caveat is that this is secured lending with repossession risk—borrowers must understand that failure to repay can result in loss of their vehicle, making this suitable only for short-term emergencies and not long-term financial solutions.
ACE Cash Express offers payday loans, installment loans, title loans, and check cashing at ~700–900 U.S. locations and online, serving unbanked and underbanked consumers.
Best for: Unbanked or underbanked consumers who lack traditional bank accounts and need immediate cash access, Individuals facing a short-term cash shortfall between paychecks with no access to traditional credit products
Check 'n Go offers payday loans and installment loans with same-day or next-business-day funding at their Detroit location and nationwide network.
Best for: Employed individuals with bad or no credit who need emergency cash in 1-2 days and have a steady paycheck, Unbanked consumers who can access a checking account and prefer in-person service with staff support
LoanStar Title Loans provides cash loans against vehicle equity at Texas locations. Founded 1990, loans up to $10,000 with simple 3-item qualification.
Best for: Texas residents who own their vehicle outright and need fast cash up to $10,000, Borrowers with poor or no credit who cannot qualify for unsecured personal loans
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Read guide →New to credit and lending? Here are the key terms used on this page, explained in plain language with real-number examples.
The total yearly cost of borrowing money, including the interest rate plus any fees the lender charges. Think of it as the 'true price tag' on a loan.
Lenders must show APR by law (Truth in Lending Act) because the interest rate alone can hide fees. Comparing APR across lenders is the most reliable way to find the cheapest loan.
Example
You borrow $10,000 at 6% interest for 3 years, but there's a $300 origination fee. The interest rate is 6%, but the APR is 6.9% because it includes that fee. You'd pay $304/month and $946 total in interest.
Interest calculated on both the original amount borrowed AND the interest that's already been added. It's 'interest on interest' — and it makes debt grow faster than you'd expect.
Credit cards and many loans use compound interest. If you only make minimum payments, compound interest is why a $3,000 balance can take 15 years to pay off.
Example
You owe $1,000 at 20% annual interest compounded monthly. After month 1 you owe $1,016.67. Month 2, interest is charged on $1,016.67 (not $1,000), so you owe $1,033.61. After 1 year without payments: $1,219.
A special APR calculation used for military servicemembers that includes ALL costs — fees, insurance, and add-ons — capped at 36% by federal law.
The Military Lending Act protects active-duty servicemembers and their families from predatory lending. Any lender charging above 36% MAPR to military is breaking federal law.
Example
A payday lender charges a $15 fee per $100 borrowed for 2 weeks. For civilians, that's technically legal in some states. For military: that works out to 391% MAPR — illegal under the MLA.
The maximum interest rate a lender can legally charge in a particular state. Charging above this rate is called 'usury' and is illegal.
Usury laws are your main legal protection against predatory interest rates. But beware: some states have weak or no usury caps, and federal banks can sometimes override state limits.
Example
New York caps interest at 16% for most consumer loans (25% is criminal usury). If a lender tries to charge you 30% in NY, that loan is unenforceable — you could fight it in court.
An asset you pledge to the lender as security for a loan. If you stop paying, the lender can seize and sell that asset to recover their money.
Secured loans (with collateral) have lower interest rates because the lender has less risk. But you could lose your home, car, or savings if you default.
Example
A mortgage uses your house as collateral. A car loan uses your vehicle. A title loan uses your car title. If you miss payments, the lender can foreclose or repossess.
A charge added to your account when you miss a payment deadline. Most credit cards charge $29-$41 per late payment, and many loans have similar penalties.
The fee itself hurts, but the real damage is to your credit score. A payment 30+ days late stays on your credit report for 7 years and can drop your score 60-110 points.
Example
Your credit card payment of $150 is due March 1. You pay on March 18. The bank charges a $39 late fee. If it's 30+ days late, it gets reported to credit bureaus and your 760 score drops to 670.
A fee your bank charges when a payment bounces because there isn't enough money in your account. Also called a 'bounced check fee' or 'returned payment fee.'
NSF fees hit you twice — your bank charges you AND the company you were trying to pay may charge their own returned payment fee. That's $50-70 for one missed payment.
Example
Your auto-pay tries to pull $350 for rent, but you only have $280 in checking. Your bank charges $35 NSF fee. Your landlord charges $25 returned payment fee. Total damage: $60 in fees.
The practice of charging interest rates higher than what the law allows. Usury laws set state-specific caps on how much lenders can charge.
If a lender charges usurious rates, the loan may be void, penalties can be reduced, or you may be entitled to damages. Know your state's limits.
Example
Your state caps consumer loans at 24% APR. An online lender charges you 36%. That loan may be unenforceable, and you might only need to repay the principal — no interest or fees.
Using your credit card to get cash from an ATM or bank. It's one of the most expensive ways to borrow — higher interest rate, immediate interest accrual (no grace period), and an upfront fee.
Cash advances are a debt trap: 25-30% APR with no grace period plus a 3-5% fee. Interest starts the second you withdraw, not at the end of the billing cycle.
Example
You take a $500 cash advance. Fee: $25 (5%). Interest: 28% APR starting immediately. After 30 days, you owe $536.67. After 6 months of minimum payments, you've paid $85 in interest on $500.
Want to learn more? Read our Financial Wellness Guides for in-depth explanations and practical advice.
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