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finder.com’s rating: 2.9 / 5.0
★★★★★
$1,000
Min. Amount
$50,000
Max. Amount
1 business day
Turnaround time
| Product Name | LoanMart Car Title Loans |
|---|---|
| Min. Amount | $1,000 |
| Max. Amount | $50,000 |
| Loan Term | 1 to 5 years |
| Turnaround Time | 1 business day |
| Costs | Based on the value of the car and your ability to make regular payments on time. |
| Requirements | Must live in AL, AZ, IL, MO, NM, SC or UT. Must have verifiable income, car value of at least $1,500 and a vehicle that is paid-off or close to being paid-off. |
Compare other title loan providers to see what options are available where you live.
How much you end up paying depends on the amount you borrow and your state of residence.
LoanMart presents you with a loan agreement document that outlines the total costs of your loan as well how long you have to repay. Like all auto title loans, you will have to sign the loan agreement in order to receive your funds, and you should be prepared to repay the principal and interest of your loan, which usually has an APR from 60% to 222%.
Once you have signed the agreement, the fees and interest come into effect–even before you get your funds–so be sure to review all associated costs before agreeing. Late or missed payments could result in more fees, a lower credit score and possible repossession of your vehicle. Always be sure you are able to repay a loan before you borrow.
All LoanMart auto title loans are made in accordance with loan, lender and finance license laws in each of their states of operation.
LoanMart guarantees your transactions under the Fair Credit Billing Act and protects all the information you provide from misuse, loss, alteration, destruction and unauthorized access or disclosure.
How to tell if a short-term lender is legit
You can complete and submit an application online or over the phone, and if you need help, customer service is available via online chat.
Eligibility criteria:
Required information:
You can provide these documents by fax, email or by sending pictures.
An auto title loan is uses the title of your car as collateral. The amount you can borrow is based on the appraised value of your vehicle and your ability to repay the loan. LoanMart keeps the title of your car, but you continue driving while you repay.
Auto title loans are typically repaid more quickly than traditional bank loans and come with much higher finance charges. Payments are done in installments, and like a payday loan, an auto title loan is not a long-term financial solution.
Because you use your car title as collateral, if you are unable to repay for any reason, you could risk losing your car. Weigh the pros and cons carefully before you decide to make sure you make the right financial decision for you.
Here’s what else you should know about auto title loans before you apply
You must live in Alabama, Arizona, Illinois, Missouri, New Mexico, South Carolina or Utah to get a title loan through LoanMart. If you don’t live in one of those states, explore other loan options.
LoanMart title loans are not available in California.
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★★★★★ — Poor
We analyze short-term loan providers and similar services to help you weed out predatory lenders and find a company you can trust. We rate providers on a scale of one to five stars. Our ratings are based on factors that are most important to you, which include: loan amount, application process, fees, customer reviews and borrower experience.
Read the full methodology of how we rate short-term loan providers and similar services.
