InstaLoan/Title Max/Equity Auto Loan. Be aware of this operation. they operate within the law to prey on their customers. They will lead you to believe that you have an installment loan, when in fact you have a one month loan. The major problem with this type of loan and that they write a new Rip Off SAVANNAH Georgia
I took out a loan for 500.00 with InstaLoan (this turned out to be a brand) the real name for this business is Equity Auto Loan and operates from the same office as Title Max.
They report your account as a brand new account each time that you make a payment. The problem is they do not let you know that this pratice will reflect negatively on your credit. As banks and other main stream lenders will view these as seperate consumer loans.
I called and spoke to someone in customer service that informed me that it was all in the contract. No it was not, it only mention that they report to the credit companies, but did not inform me that it would reflect a new account being opened each month.
Bad for customers, shame on them.
Additionally, they will bill charge you up to 25 bucks each time you renew your contract for life insurance.
1 Updates & Rebuttals
hicklemr
st auguistne,Florida,
USA
what they dont know is they did not regester the .co
#2UPDATE EX-employee responds
Mon, April 11, 2016
thats right tmx and the big named loan biz did not even regester their .co so come to instaloan.co and sineup for a domain buy back progam .thank you for your time