TitleMax

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6 people found this helpful  

Big Mistake Accepting Employment

General Manager (Former Employee) Dallas, TX

ProsThey pay the General Managers 30k/ yr. base and then a bonus of 10k/ yr gtd bonus, others 20k/yr. depending on your experience. The bonus is only good for the first year, after that your pay is reduced to the base pay of 30k/ yr.

The hours are not bad, as long as you don't mind working 65 hours a week.

ConsThey tell you all the stories of the GM's in Atlanta making over 100k/ year but even the few managers making the big money are job scared and the turnover is extremely high. The ATL market is an established market and they don't don't have competition on every street corner like DFW has. To make the 100k/ yr. in DFW will take 4-5 years assuming you can tolerate their "small company ways". As soon as your store starts making any money, they pop another store down the street which drains your sales making it impossible to grow.

In Texas, there is a 10 day grace period (which you are not allowed to explain to the customer) so if a customer is late you are not allowed to make contact until the 11th day. After the 11th day you are expected to call home, work, cell, friends, family twice a day so you end up spending all your time begging the customers to come in and pay. As soon as the account goes 10 days late they tag on a 5% fee (5% of the total amount borrowed) making it even more difficult to bring the customer current. If you are unable to establish contact with the customer they have you "chase" meaning visit the customer at home and work asking for payment.

They claim they can give you cash in 30 minutes or less- what a joke! You have to sign a dozen contracts and then you finally get a check. All the customers intend to pay the money back but 90%+ can only pay the minimal amount so there is $0.00 being paid to the balance of the loan. Customers are then forced into taking years to repay the money and finally getting their title back or more commonly getting their car repo'ed.

The customers that so actually pay on time say over and over "I'll never do this again".

It is all a big scam and TitleMax will become nothing but a blemish on your resume.

Advice to Senior ManagementWaste of time, they think they already know everything but actually have no clue how to operate in a new market such as Texas, Nevada and Arizona.

No, I would not recommend this company to a friend

    • Work/Life Balance
    • Senior Management
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    3 people found this helpful  

    Coming from a sales and finance background. It was like working in another world.

    Assistant Manager (Former Employee) Nashville, TN

    I worked at TitleMax


    Pros: Its a job you can get right now when so… Cons: daily threatening and demening emails from district manager, going to peoples home to… Advice to Senior Management: Stop threatening your employees and learn to motivate them. It dosen't take… No, I would not recommend this company to a friend More
    • Culture & Values
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    • Senior Management
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    • Approves of CEO

     

    Very New Company to the area.

    General Manager (Current Employee)

    I have been working at TitleMax full-time for less than a year


    Pros: Potential Income will be unlimited!!! Cons: Upper Management very new to the company. No, I would not recommend this company to a friend More
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