Titlemax Secrets
from a Store Manager
I was a store manager for Titlemax from the middle of 2012 until December 2013 in Columbia, TN. Because I am not aware of changes that have happened after I left in December 2013, everything I talk about here will be based on my knowledge up until that point in time (December 2013).
At Titlemax, a General Manager runs a store and a Store Manager works under the General Manager. The General Manager at the Titlemax I worked at was Trey Gay (Trey is a nickname he gave himself). Trey later became a District Manager for Titlemax™. The Regional Manager, for the region I worked in, was Will Honeycutt. At Titlemax, District managers and Regional managers make 6 figure incomes. Titlmax is a very aggressive company and management is trained and required to be very aggressive. Trey told me he was a professor at David Lipscomb College in Nashville while he was working as a General Manager for Titlemax.
TITLEMAX SECRETS:
1. Titlemax will quote 12.99 rate (monthly). However, my store had authority to reduce the rate to 5% to match a competitor.
2. If you fail to make your minimum monthly interest payment (plus 5% of principle after the 2nd payment) on time, this is what happens: (A) They try for 30-days to get you to pay by calling you and coming to your home. (B) After 30-days, they hire a repo company to get your car (anywhere they can find it). (C) If you don't work something out after re-possession, they sell your car at auction.
3. After your car is sold at auction, Titlemax will not make you pay the difference. So if you owed $1,500 and your car sold at auction for $700, that's the end of it. Titlemax will not come after you for the rest of the money (except a few phone calls here and there).
REMINDER: ALL INFORMATION I AM PROVIDING HERE WAS FROM MY PERSONAL EXPERIENCE UP UNTIL DECEMBER 2013. THINGS MAY HAVE CHANGED SINCE THEN...!!! ALSO, TITLEMAX MUST CONFORM TO EACH STATES LAWS AND MY EXPERIENCES ARE IN TENNESSEE.
4. It is not uncommon for Titlemax to loan you more money than your car is worth. They call it their "Gold Nugget" policy. If your 2001 car looks good, they may offer you $2,500 for it when the wholesale value is only $1,500. If you would like them to just keep the car for $2,500, you could just leave it in their parking lot one night. At my store, if you left your car in the parking lot one night (with a note giving it up), you would only receive one phone call verifying your intentions (this was explained to me by Will Honeycutt).
5. Titlemax does not report to the credit bureaus. Also, Titlemax does not charge late charges. So, there is no financial penalty to being late every month. They simply call you all the time (and visit your home).
When you get a high interest title loan at Titlemax, you are making upper management very, very wealthy. Titlemax pays their upper management a very generous percentage of profit made from your high interest payments.
After leaving Titlemax, I have been picketing some of their locations. I understand that people get desperate and need fast cash. However, it's a cold reality when your only transportation to work and the grocery store is taken from you. Many of my customers did not realize that the A.P.R. was well over 100%. Titlemax only quotes their monthly rate. At Titlemax, the A.P.R. is only disclosed on the contract.
Bradley E. Daniel

This is a picture I took of Trey Gay (District Manager) in the Columbia, TN store I worked in. Trey makes a 6-figure income based on profit generated from very high interest loans and repossessing peoples vehicles.

This was my picketing attire. I dropped the mask in my later picketing.


Titlemax in Franklin, TN 10/23/2015
Get a Loan at Titlemax and this could be you...!!!
This is a common scene at Titlemax Stores. Titlemax will only keep a repossessed vehicle at their store long enough to put all of the items found within the vehicle in black plastic bags (your stuff). Then, they usually ask the towing company to store the vehicle until they can legally sell it at auction. They don't want the vehicle at the store location for two reasons. 1. They don't want the bad image. 2. They don't want you taking your car back after they have repossessed it.
