Does my car need to be paid off?
Yes, your vehicle needs to be paid off to receive a Title Loan.
What if I lost my title, what do I do?
Online: Titles are verified electronically if you apply online. You are not required to produce a physical title when completing an online application. You may be asked to mail us your physical title after you obtain your loan at our request, in which case you would need to follow the process described below to obtain your replacement title. In-Store: You will need to produce a title before a loan can be made at your local ACE Store. You may contact your local County Tax Office to replace your title loan.
What if there are two names on the title?
Do I need to be employed? Can I be retired?
You do not need to be employed, but you need to have some sort of income. You can be self-employed, or even receive income from some source other than an employer, but we will require that you to have some income to ensure your ability to repay the loan and CSO fees. You can be retired or even on disability. The key is to have a source of income.
Do I have to have the car titled in the same state as where I live?
You may receive a Title Loan if your vehicle is titled in another state as long as your employer and residence are in the state you receive your loan.
Is my personal information safe?
What do I need to apply for a Title Loan?
Online: You will need to know your banking information (bank routing and account number) to complete an online application. Members of the military and those who have recently filed for bankruptcy are not eligible for a Title Loan or our credit services.
In-Store: You will need to bring a valid form of identification and a clear title to your local ACE store. Members of the military and those who have recently filed for bankruptcy are not eligible for a Title Loan or our credit services.
Is there any cost to apply for the loan or credit services?
When will the loan be due?
Online: Your Installment Loan payments will be due on your next five approved paydays. You will be informed of the payment due dates and amounts when your loan is approved. However, the term of your loan cannot exceed 180 days. In-Store: Your loan will be due in 30 days. You will have the option to pay off your loan in its entirety or just pay the CSO fees associated with it and keep your loan out for another 30 days.
When will I hear whether I qualify for credit services and a loan?
Payments and Cancellation Information:
How do I pay my CSO fee and loan?
In-Store: When the loan is due, you have the option to pay off the loan and CSO agreement in full or simply pay the CSO fees and interest due and refinance the loan for another month. You will, of course, be responsible for additional CSO fees and interest in connection with the new loan and CSO agreement. In addition, you will be required to repay at least 5% of the original principal amount of your loan in connection with each refinance. Loan payments are received in-store.
If I pay a CSO fee and loan early, how does that affect my finance charge?
Online: If you repay your loan in full at any time, you will only be responsible for accrued interest on the outstanding principal through the date of repayment and for the portion of the CSO fee scheduled to paid on or before your next payment date. In-Store: Paying early will not reduce your CSO fee and interest on your loan.
What if I change my mind and decide I do not want the CSO contract and loan?
What happens if I fail to make a timely payment on my loan or credit services transaction?
Failure to make a timely payment on your loan or credit services transaction can have several consequences, including the following: Financial Implications Currently, no past due interest is assessed on any loans you may obtain from us or that we may arrange for you. However, you may be assessed a late fee if you fail to make your payment by a specified period following its due date and you may be assessed with a returned item charge if any check or electronic payment we submit on your behalf is returned unpaid (late fee and returned item fees vary by state see your transaction agreements for additional details). Collection Activity We may attempt to collect any delinquent amount through our standard collection practices, which include contacting you by phone, mail, SMS or email. We may also exercise any of our rights under our loan or credit services agreements with you. If we are unable to collect any delinquent amount you may have with us through such actions, we may also sell our debt to a third party debt buyer or engage a collection agency, who may also institute collection activity with you. Impact on Your Credit Score We do not currently report loan activity to any of the three major credit bureaus (Equifax, Experian or TransUnion). However, we do use alternative credit reporting agencies such as FactorTrust. Failure to make timely payment on your loan may reduce your score with such agencies, and prevent you from receiving credit or other services from a provider that uses such agencies. Renewal of your Loan We do not automatically renew any of our loans or credit services transactions. Where refinances or renewals are available (varies by state), you may obtain a refinance or renewal of your loan or credit services transaction by logging in to your account prior to your due date and applying for a renewal or refinance. In connection with any renewal or refinance, you will be required to e-sign new transaction agreements for such renewed or refinanced transaction and our standard rates for loans or credit services transactions will be assessed on such renewal or refinance (varies by state see posted fee schedules).
How do I cancel the CSO contract and loan?
Online: To cancel the CSO contract and loan, you must mail or deliver the proceeds from your loan and a signed and dated copy of the cancellation notice provided with your credit services agreement, or other written notice, to:
ACE Credit Access LLC, Internet Loan Cancellation
1231 Greenway Drive, Suite 600
Irving, Texas, 75038
In-Store: To cancel the CSO contract and loan, you must present a cancellation notice and the proceeds from your loan to the store within (3) days of receiving your cash.
1. All loans subject to approval pursuant to standard underwriting criteria. Not all consumers will qualify for a loan or for the maximum loan amount. Loans should be used for short-term financial needs only, not as a long-term financial solution. Customers with credit difficulties should seek credit counseling. Loans in Texas arranged by ACE Credit Access LLC, and all such loans are made by, and subject to the approval of, an unaffiliated third party lender. Terms and conditions apply.
2. Installment Loans are intended for customers who need more time to pay off their loan than provided by a single-payment Payday Loan. Individual payment amounts for an Installment Loan are smaller when compared to the single-payment Payday Loan for the same loan amount. The total sum of payments for an Installment Loan will be higher than a single-payment Payday Loan if you pay off the Installment Loan according to the payment schedule set forth in the associated loan agreement.
3. Online and in-store title loans are different products and subject to different underwriting criteria. Online title loans are multi-payment and store title loans can be single or multi-payment. Additionally, it may be possible to get approved in the store and not online, and vice versa. See FAQ’s for variance if you have additional questions.
4. Our credit decision on your application may be based in whole or in part on information obtained from a national database including, but not limited to FactorTrust, Inc. P.O. Box 3653, Alpharetta, Georgia 30023, (678) 306-2260.