Best Online Title Loans reviewed many different title loan companies “Car Title Loan Calculators” to provide some useful information. When we searched Google for “Car Title Loan Calculator” we were both surprised and disappointed with some of the results.
As we have mentioned, finding the Best Online Title Loan is challenging. The fact the lenders publish misleading and at times inaccurate information only adds to this challenge. The same is true with car title loan calculators.
Our goal is to make the task easier. We provide a review of each calculator with some helpful tips.
One thing we immediately found was that many of the so called title loan calculators did not actually calculate anything.
Some were just blog posts while others provided an average value of vehicles. Unfortunately neither of these help when calculating title loans.
Another observation was some of the amazingly inaccurate or inconsistent information. One lender claimed to save you $30,000 on a 1 month loan. Another provided an APR of 4.5%. These are clearly not accurate and mislead title loan customers.
Vehicle Value is not Car Title Loan Costs
When you want to find an accurate estimate of your vehicle value use a valuation tool like KBB or NADA. Don’t use a car title loan company’s form.
Car Title Loan Calculator Review:
Best Online Title Loans reviewed the top Google listings for Title Loan Calculator to help those searching for the Best Online Title Loan. A summary of what we found is provided below:
The first calculator we looked at was from Cash Store.
The Cash Store “Title Loans Calculator” provided very little information related to the cost of a title loan. Instead, it provided the maximum loan amount based on vehicle value.
Unfortunately, many of our inputs were provided with the message:
We do not have up-to-date information on this vehicle. Please check if the options selected are accurate. If you are still having trouble, feel free to bring in your vehicle to your nearest Cash Store to be evaluated and see how much money you could qualify for.
It seems this is a vehicle value calculator and not a title loan calculator. There was no where for us to enter the loan amount or length.
While the output did provide a single monthly payment amount and a whopping 399% APR; there were no details as to how many payments. Only fine print.
We would not recommend Cash Store’s Car Title Loan Calculator for anything other than letting you know that their interest rates are very high.
Cash Store Car Title Loan Calculator Conclusion
This calculator provided more information about the value of the car rather than different loan amounts. However, it does display the monthly payment and APR for each Maximum Loan Amount.
We have to give cash store credit for publishing 300% plus APR rates. While they may not be the place to go for the Best Online Title Loan; having their rate is helpful when shopping for a title loan. We give them credit for publishing real rates for different loans.
800 Loan Mart
This is the next calculator in Google’s search results. Unfortunately this is even worse than Cash Store as it is not a calculator at all. Rather, it is a Blog post about title loan calculators?
Yes, that last sentence is a question because we are not sure what to make of 800 Loan Mart’s so called title loan calculator. We think it is a blog post to encourage customers to fill out a title loan application to find out “how much cash they can get”.
Again, this has nothing to do with car title loan cost and is not at all helpful to anyone shopping for a title loan.
800 Loan Mart Car Title Loan Calculator Conclusion
This so called calculator is completely useless when searching for the best online title loan. It provides no value at all.
Montana Capital Car Title Loans Calculator
As we move down the list we come to another car title loan calculator. This one actually looks promising at first and calculates loan payments and interest charges instead of simply car values.
There are some major flaws. For one, the disclaimer states:
*The data generated herein is completely and solely based on the information provided by you. The “title loans calculator” and calculation values are approximations and for illustration purposes only. It is not a part of the Montana Capital Car Title Loans application process. Actual payments may vary slightly. Rates used for calculations are not considered rate guarantees or offers. The calculations assume all payments are made when due.
A car title loan calculator should be used for much more than “illustration” purposes. We should be able to compare different lender’s rates and charges while shopping for the best online title loans.
Once we used the calculator we found out why the disclaimer is there. The default rate in the Montana Loans Calculator is 4.5% APR. If they are making car title loans at this rate than you will definitely not find a better deal.
The problem – 4.5% APR is an extremely low rate for a new car loan, let alone a car title loan. We have a feeling this is simply meant to mislead customers; hence the disclaimer.
Montana Capital Car Title Loans Calculator Conclusion
As it is right now this calculator is useless to those shopping for the Best Online Title Loan. If Montana Capital had the transparency to use it’s own interest rate in the calculator it would be very useful. Maybe they will read this and do so.
The fact that they mislead customers with a default rate of 4.5% APR is not ethical in our opinion.
We are not going to waste a lot of time on this one because it is not a calculator at all. Instead, it is a blog post about title loans. Completely useless to someone looking for a car title loan calculator.
The nest result in Google for the search “Car Title Loan Calculator” is TitelMax. Google should revisit their algorithm because TitleMax doesn’t have any calculator and doesn’t even pretend to. This one is Google’s fault, not TitleMax’s.
The next result in Google is a blog post from Bankrate.com about car title loans. Again, nothing to do with a calculator. This one is Google’s fault again for not returning relevant search results.
Fast Title Lenders
The next result is a calculator from Fast Title Lenders. Their calculator provides detailed instructions and let’s you enter your loan amount and number of months as well as a competitor’s rate should you want to.
The results are an amortized loan schedule which is helpful when shopping for the Best Online Title Loan. You can clear the data and start over which is a nice feature. The data output is clear and easy to follow.
Fast Title Lenders Title Loan Calculator Summary
This is by far the best calculator we have seen so far. The “competitor’s interest rate” input box was a little confusing at first but we finally figured it out.
We would have like to have seen somewhere to enter the lien fee to make the loan estimate more accurate. Still, it is far better than any previous result.
1-800 Car Title Loan
Another so called calculator we won’t spend a lot of time on. This is the start of an application for a car title loan and does not allow you to calculate anything.
In our opinion, results like this do not belong in Googles Search results for this term. These belong under “Car Title Loan Application”. This page does nothing for those searching for the Best Online Title Loan.
Max Cash Title Loan Calculator
The next one on the list is from Max Cash. They offer a car title loan calculator that lets you change the interest rate and calculate different amounts.
This would be a lot better if you could enter months instead of years. It is worth noting that putting in 5 years for a $3,500 car title loan results in a cost of almost $17,000.
Max Cash Calculator Summary
A real calculator that does let you calculate title loan costs. Unfortunately, the lack of breaking down title loans into months instead of years hinders our ability to use the calculator for any loan less than 12 months.
TFC Title Loans Title Loan Calculator
The next one on the list is TFC Title Loans. The first thing we notice is the strain on the eyes from the overuse of bold and large text. It is hard to tell if this is a blog post or an actual car title loan calculator; it looks like it might be both. There is a fairly large Table of Contents with quite a bit of seemingly out of place text their just for keyword sake.
We found three sliders that you adjust depending on the amount you want to borrow. How they came up with the minimum and maximum is a bit of a mystery.
TFC Title Loans Calculator Summary
While it was good that this wasn’t another vehicle value form; this has no use when finding the Best Online Title Loan. The layout is not user friendly, the text is rambling and makes no sense, and the calculator itself is not accurate.
When we input a 1 month $3,000 loan with a competitor rate of 100% we got a total loan savings of over $33,000. There are obviously some major flaws in this calculator so we are not sure we can trust any of the output. There is also a large disclaimer in the footer worth reading.
Title Loanser Calculator
The next on the list is from a company called Title Loanser(?). We think they must have wanted a URL with title loans and just added the ‘er’. That’s ok, today we’re here to talk about calculators.
Unfortunately this is the worst one we’ve seen yet. This is not only not a title loan calculator, it looks like they took content from the previous sites and ran it through a content spinner.
There is a form that simply divides whatever number you enter by 2; not exactly calculating anything related to title loan costs.
Title Loanser Summary
This site will not help with finding the Best Online Title Loan. In fact, it appears much of this content is copied from previous sites reviewed; primarily Fast Title Lenders. Google eventually catches up with sites like this so we don’t expect to see them much longer.
Car Title Loans California
Next on the list is Car Title Loans California. Originality does not appear to be their strong suit so we won’t spend a lot of time here. This will not help at all for finding the Best Online Title Loan. It has the same eyestrain as TFC Title Loans, with basically the exactly same calculator right down to the wildly inaccurate results.
The Velocity Cash Title Loan Calculator lets you enter the loan amount and number of months and displays the monthly payment. It also lets you change the interest rate (APR), which is helpful if you have their APR.
Velocity Cash Calculator Summary
This calculator is somewhat useful if you have a lender’s interest rate. We would have liked to have seen an amortization schedule instead of a useless pie graph. Also, Velocity Cash should consider adding their rate to the defaults.