InstaLoan Reviews

Updated April 13, 2015
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  1. Cool job

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Store Manager
    Current Employee - Store Manager

    I have been working at InstaLoan

    Recommends
    Positive Outlook
    Recommends
    Positive Outlook

    Pros

    I love me office. I have a great team.

    Cons

    Needs to pay more money. If customer do not make payment you have to go to there house.

  2. General Manager

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at InstaLoan full-time

    Doesn't Recommend
    Negative Outlook
    Doesn't Recommend
    Negative Outlook

    Pros

    Supplemental bonus once a month. And getting to meet some good people over the years (customer's and staff).

    Cons

    They have no identity. Make up your mind, and quit changing your Loan Products. It's almost impossible to get beyond the temporary supplemental bonus. Extremely high turnover. Marketing plan is not good.

    Advice to Management

    District Manager's micro-manage everything single thing. So frustrating!

  3. Not a bad place to work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Customer Service Representative in Savannah, GA
    Current Employee - Customer Service Representative in Savannah, GA

    I have been working at InstaLoan full-time (Less than a year)

    Recommends
    Neutral Outlook
    Recommends
    Neutral Outlook

    Pros

    Good pay for the area, the job is not to difficult, company reimburses you for your millage, and management is easy going.

    Cons

    A lot of change and hours can be difficult to get use to but if your ok with change it's one of the better jobs I have held.

    Advice to Management

    Develop a solid business model and work on employee turnover possibly offer more opportunities for advancement besides just progressing to management.

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  5. Don't do this to yourself

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - General Manager
    Former Employee - General Manager

    I worked at InstaLoan full-time (More than 3 years)

    Doesn't Recommend
    Negative Outlook
    Doesn't Recommend
    Negative Outlook

    Pros

    Pay was ok. Had great employees

    Cons

    The products that we offered were not the products that we promoted. We clearly took advantage of customers. Without customers having clear knowledge of what insurances they had to take and didn't have to take, we were encouraged to add these insurances onto a customers account. Your job was threatened everyday. Completely a number driven business. Policies change everyday. Turnover is through the roof. I stayed only for the pay and for a good resume. I now make more money at a MUCH BETTER JOB. The reason the pay is so good is simple. They know that people will not stay when they learn what this place is about.

    Advice to Management

    My advice to management would be. put people in place (VP, RM, DM) that have actually done this type of work (Finance) and do what real finance companies are doing (Springleaf, World Finance) and maybe this place will have a chance because if you don't, this idea is will soon sink just like the titanic.

  6. Get all the facts then decide if this is the place for you

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - General Manager in Atlanta, GA
    Current Employee - General Manager in Atlanta, GA

    I have been working at InstaLoan full-time (Less than a year)

    Neutral Outlook
    Neutral Outlook

    Pros

    The base pay, on the surface, is fairly decent. Every other weekend off plus every Sunday is nice.

    Cons

    While it seems work/life balance would be good, it is not. That every other weekend off costs you big time during the week. The company doesn't lie about how you are compensated but you need to read your offer very carefully. They force you to work what amounts to 53 hours and get paid for 40. They also weight the 8 "overtime hours" in such a way that if your short it disproportionally hurts your paycheck. Most GM;s believe after training they will be on salary and have no idea what's coming. I don't consider what the company does to customers as a 'con' but if you have a moral issue with lending money at high rates and dancing on the edge when it comes to "selling" ancillary products, this company is not for you.

    Advice to Management

    Make clear, achievable goals based on a stores previous performance and manage to those goals. Do not destroy the morale of your entire team with goals that no store makes on a consistent basis. Essentially, stop giving every store regardless of past performance or time open the same goal. It's counter-productive and only incompetent short sighted senior management comes up with nonsense like that. 2) Show more respect to your team - self explanatory. 3) Re-think the 50+ hour week for GM's...you're not helping sales or morale by overworking leaders in the store...put them on salary and give them the reigns they need to be good operators. 4) Differentiate the brand from the other TMX brands. Currently everything revolves around TitleMax. The look is TitleMax, the culture is TitleMax, the dress code is TitleMax. Do SOMETHING to be different other than a green and yellow logo.

  7. brief

    • Comp & Benefits
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - General Manager in Albany, GA
    Current Employee - General Manager in Albany, GA

    I have been working at InstaLoan full-time (Less than a year)

    Doesn't Recommend
    Positive Outlook
    Doesn't Recommend
    Positive Outlook

    Pros

    good pay for albany
    none overall

    Cons

    keeping poor people in debt

    Advice to Management

    change your business model

  8. Worst company to work for

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at InstaLoan

    Pros

    Pay is good at all levels

    Cons

    The upper management is abusive to the store and DM personal. They act like they are so important they have arrived. They talk down to you they tell you your day off us a benefit and if your numbers are right you don't get it. Their loan model is terrible and the few customers that get approved they rip off.

    Advice to Management

    Terminate the regionals before they get you major law suits they are not trained in HR

  9. Instaloan Customer service representative

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Customer Service Representative in Albany, GA
    Current Employee - Customer Service Representative in Albany, GA

    I have been working at InstaLoan full-time (Less than a year)

    Recommends
    Neutral Outlook
    Recommends
    Neutral Outlook

    Pros

    decent pay, learning experience in the finance field, every other weekend off.every sunday off. Overtime if business is at its peak.

    Cons

    stressful dealing with making collections and inventory with repos. Having to drive using PERSONAL vehicle to go to customer's homes and collect on accounts and having to wait until payday to be reimbursed. NO OVERTIME usually.

    Advice to Management

    invest in a company vehicle to put miles on instead of personal vehicles in which mileage is under paid(.36 cents per mile) federal is .56/mile.

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