By BRIAN SMITH
Everyone has had times where they’ve been a little short on cash. There’s no place to turn to, so what do you do.
TitleMax has your answer.
The car title loan company, which allows you to “turn your title into cash” has opened a location in Weatherford, located at 1980 S. Main, just north of Interstate 20. TitleMax has been open since July 1, according to General manager Katrina Guillot.
Guillot says business has been slow but quite steady, which is common with any new business. Title Max allows clients to receive up to $5,000 in exchange for their car title.
“Your car title is your credit here at TitleMax,” Guillot said. “Our interest rates are the lowest in the car title industry.”
Guillot said TitleMax also buys out other car title loans and can cut payments by almost half of what other places charge.
“Some places are charging upwards of $700 a month for their loans,” Guilot said. “We invite everyone with a car title loan to come in and see what we can do for them.”
The company also offers a referral program where customers who refer a friend to TitleMax receive $50. New loans over $1,000 are receiving $50 off while loans of less than $1,000 can get $25 off, Guillot said.
Starting the loan process is relatively simple. New clients need to bring identification, their car title, including those from out of state and vehicle and a proof of income, such as a pay stub, Guillot said. Most loan applications can be approved and a check in hand in about 30 minutes.
Guillot said clients that call ahead and provide information can be in and out of the office in less time than that. Getting rid of the car title mystique is something Guillot hopes to eliminate.
“People say that we’re mean or that we just want people’s car, which isn’t the case, as we’re not in the repossession business,” Guillot said. “Sometimes we are forced to do that, but we want to be as upfront as possible. This is not meant to be a degrading experience. People need money for all types of reasons and we want to get it to them.”