Missouri Schedule of Fees and Charges
SCHEDULE OF LOAN FEES AND CHARGES
TitleMax Online of Missouri, Inc.
Effective September 2020
TitleMax Online of Missouri, Inc. is a Consumer Installment Lender Company registered under Rev. Stat. Mo. § 408.510 and is regulated by the Missouri Division of Finance, Truman State Office Building, Room 630, Jefferson City, MO 65102, Phone: (573) 751-3242, Fax: (573) 751-9192, finance@dof.mo.gov.
Available Loan Amounts: $100.00 to $2,500.00 (first time borrowers are eligible for a maximum loan amount of $1,000.00)
Loan Term: 12 months (12 monthly payments, 24 semi-monthly payments or 26 bi-weekly payments)
Interest: Simple interest of 442.00% per annum. Interest will continue to accrue on past due principal amounts until paid in full in accordance with Missouri law.
Prepayment: There is no prepayment penalty.
Late Fee: As authorized by Rev. Stat. Mo. § 408.140.1(3), Lender may charge a late fee on any installment not paid within 15 days of the applicable Payment Due Date in an amount equal to $15 or 5% of the past due installment amount, whichever is greater, up to a maximum of $50, provided that if the scheduled installment amount is $25 or less, the late fee shall not exceed $5.
Returned Payment Handling Charge: As authorized by Rev. Stat. Mo. § 408.140.1(7), Lender may charge a returned payment handling charge in the amount of $25 for any payment returned or refused for processing for any reason.
Following are loan examples with Monthly, Bi-Weekly and Semi-Monthly repayment schedules. All payment schedules and APRs are examples only; actual payment amounts and APRs vary depending on the month and date of loan origination. The final scheduled payment amount typically differs from the other payment amounts.
12 Month Installment Loan with 12 Monthly Payments
Loan Proceeds | Finance Charge | Payment Schedule* | Total of Payments | Annual Percentage Rate (APR) |
|---|---|---|---|---|
$250.00 | $891.11 | 11 payments of $95.09 | $1,141.11 | $446.16% |
$750.00 | $2,673.36 | 11 payments of $285.27 | $3,423.36 | $446.16% |
$1,250.00 | $4,455.81 | 11 payments of $475.45 | $5,705.81 | $446.16% |
$1,750.00 | $6,238.06 | 11 payments of $665.63 | $7,988.06 | $446.16% |
$2,250.00 | $8,020.01 | 11 payments of $855.81 | $10,270.01 | $446.16% |
* All loan examples above assume a monthly payment schedule with 12 payments due on the same day each month.
12 Month Installment Loan with 26 Bi-Weekly Payments
Loan Proceeds | Finance Charge | Payment Schedule* | Total of Payments | Annual Percentage Rate (APR) |
|---|---|---|---|---|
$250.00 | $870.22 | 25 payments of $43.12 | $1,120.22 | $440.78% |
$750.00 | $2,612.43 | 25 payments of $129.36 | $3,362.43 | $440.79% |
$1,250.00 | $4,356.78 | 25 payments of $215.59 | $5,606.78 | $440.79% |
$1,750.00 | $6,097.36 | 25 payments of $301.83 | $7,847.36 | $440.79% |
$2,250.00 | $7,838.88 | 25 payments of $388.07 | $10,088.88 | $440.79% |
* All loan examples above assume a bi-weekly payment schedule with 26 payments due every 14 days.
12 Month Installment Loan with 24 Semi-Monthly Payments
Loan Proceeds | Finance Charge | Payment Schedule* | Total of Payments | Annual Percentage Rate (APR) |
|---|---|---|---|---|
$250.00 | $857.09 | 23 payments of $46.08 | $1,107.09 | $439.10% |
$750.00 | $2,569.11 | 23 payments of $138.25 | $3,319.11 | $439.11% |
$1,250.00 | $4,280.92 | 23 payments of $230.42 | $5,530.92 | $439.11% |
$1,750.00 | $5,992.69 | 23 payments of $322.59 | $7,742.69 | $439.11% |
$2,250.00 | $7,704.40 | 23 payments of $414.76 | $9,954.40 | $439.11% |
* All loan examples above assume a semi-monthly (twice monthly) payment schedule with 24 payments due two times per month on the same dates.
LICENSES AND REGULATORY INFORMATION
Missouri Lender License – Website
Missouri Division of Finance
Truman State Office Building, Room 630
Jefferson City, MO 65102
Phone: (573) 751-3242
Fax: (573) 751-9192
finance@dof.mo.gov