Utah Schedule of Loan Fees and Charges
SCHEDULE OF LOAN FEES AND CHARGES
TitleMax Online of Utah, LLC
(Online)
2312 E. Trinity Mills Road, Carrollton, Texas 75006 Effective September 2020
TitleMax Online of Utah, LLC is registered and regulated under Utah Code Ann., Title 70C by the Utah Department of Financial Institutions, 324 South State Street, #201, Salt Lake City, UT 84111, Phone: (801) 538-8830, Fax: (801) 538-8894, dfi@utah.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 Utah law.
Prepayment: There is no prepayment penalty.
Delinquent Charge: $30 or 5% of the delinquent unpaid installment amount, whichever is more.
Returned Payment Charge: $20.00 for each payment (whether made electronically or by check, money order or other payment instrument) that is not honored or cannot be processed for any reason, including insufficient funds.
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 | $5,705.71 | $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
TitleMax Online of Utah, LLC CCN
Utah Department of Financial Institutions
324 South State Street, #201
Salt Lake City, UT 84111
Phone: (801) 538-8830
Fax: (801) 531-8894
dfi@utah.gov