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LoanMart auto title loans review

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Use your car as collateral — but keep an eye out for high rates.’s rating: 3.7 / 5.0


  • Best for borrowers who still owe money on their car or don't have a bank account.
  • Pick something else if you don't live in one of the seven states it lends in.


Min. Amount


Max. Amount

1 business day

Turnaround time


Product NameLoanMart Car Title Loans
Min. Amount$1,000
Max. Amount$50,000
Loan Term1 to 5 years
Turnaround Time1 business day
CostsBased on the value of the car and your ability to make regular payments on time.
RequirementsMust 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.

Expert review

Aliyyah Camp

Review by

Aliyyah Camp is a writer and personal finance blogger who helps readers compare personal, student, car and business loans. Aliyyah earned a BA in communication from the University of Pennsylvania and is based in New York, where she enjoys movies and running outdoors.

Expert review

LoanMart is ideal for borrowers with poor credit who’ve exhausted all other short-term loan options. Unlike many other auto title loan providers, your car doesn’t need to be fully paid off to qualify — and you’re not even required to have a bank account.

It also offers higher loan amounts than other lenders out there, maxing out at $50,000. And you have a slew of ways to receive your funds and make repayments.

But you’ll need to live in one of the seven states it offers auto title loans to qualify. And like all short-term loan providers, you could face APRs in the triple digits. While it provides a fee schedule for Utah residents because it’s required to by law, it doesn’t offer the same transparency to borrowers of other states.

Not sure LoanMart is for you? Compare your other options below.

First, am I eligible?

To qualify for an auto title loan from LoanMart, you must meet the following criteria:

  • Reside in a state LoanMart services
  • Vehicle value of at least $1,500
  • Vehicle is paid off or almost paid off
  • Verifiable income
  • At least 18 years old
  • US citizen or permanent resident

What states is LoanMart available in?

LoanMart is licensed to operate in seven states:

  • Alabama
  • Arizona
  • Illinois
  • Missouri
  • New Mexico
  • South Carolina
  • Utah

LoanMart title loans are not available in California.

What is LoanMart?

LoanMart is an auto title loan provider that offers short-term loans up to $50,000. Terms last between 12 and 36 months, but like all short-term lenders, interest rates are extremely high. This means you may pay double or even triple the amount you borrow in interest and fees. And if you default, your car may be repossessed.

What are the benefits of an auto title loan from LoanMart?

From its large maximum amounts to its multiple funding options, here are a few perks of borrowing from LoanMart:

  • Can still owe money on your car. While most auto title loan lenders require vehicles to be fully paid off — known as being lien-free — LoanMart allows you to use your vehicle as collateral even if you’re still making payments on it.
  • Large maximum amount. You may be able to borrow as much as 120% of your car’s equity through LoanMart. The amount you’re approved for depends on your vehicle, financial situation and state of residence.
  • Bank account not required. Unlike other title loan providers, you don’t need to have a bank account to qualify.
  • Multiple ways to receive funds. You can receive your loan funds as cash, check, through MoneyGram or directly into your bank account through ACH or a wire transfer.
  • Mobile app available. You can manage your account and check the status of your loan through the LoanMart mobile app.

What to watch out for

Consider these potential drawbacks before taking out an auto title loan from LoanMart:

  • Limited state availability. LoanMart only offers auto title loans in seven states. If you don’t live in a serviced state, you’ll need to compare your other short-term loan options.
  • High rates. Depending on your state, LoanMart may charge an APR between . Before you borrow, make sure you can afford the total cost of your loan to avoid falling into a cycle of debt.
  • Not transparent about fees. LoanMart is required by law to provide a fee schedule in Utah. But in its other serviced states, you’ll have to apply to see what fees you might be charged.

How do LoanMart auto title loans compare?

Data indicated here is updated regularly
Name Product Filter Values Max. Loan Amount Turnaround time Requirements
Max Cash Title Loans
Same business day to 1 business days
Must be a US citizen or permanent resident, 18 or older with a regular source of income.
With a quick online application, Max Cash could help connect you with a lender, finding you options in minutes. Car Title Loans
Varies by lender
Have a regular source of income, not be involved in any bankruptcy proceedings, be a US citizen or permanent residence, be at least 18 years old (varies by state).
Quickly find a lender and potentially borrow up to $10,000 by using this auto title loan connection service.
LoanMart Car Title Loans
1 business day
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.
A LoanMart auto title loan allows you to borrow money against your car, even if you have bad credit.
Finova Financial Auto Equity Loans
as little as one business day
Must live in AZ, CA, FL, NM, SC or TN. Must own your car outright, have a valid car insurance policy and be a US citizen or permanent resident.
Short-term loans secured by your car title. Repayments accepted through MoneyGram if you don't have a bank account.

Compare up to 4 providers

LoanMart reviews and complaints

BBB accredited No
BBB rating A+
BBB customer reviews 4.02 out of 5 stars, based on 39 customer reviews
Trustpilot score 4 out of 5, based on 32 customer reviews
Customer reviews verified as of 16 October 2020
While recent reviews for LoanMart on its BBB page are generally positive, there are no details on its complaints. And Trustpilot reviewers tell a different story, stating that the high APR and high monthly payments made it nearly impossible to make progress paying off their loans.

Is it safe to apply with LoanMart?

In general, yes — LoanMart works in accordance with lending and finance laws in each of the states it lends in. It also 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

How to apply for an auto title loan from LoanMart

LoanMart allows borrowers to apply online, over the phone or at a LoanMart location. To get started online, follow these steps:

  1. Click the Go to Site button to be redirected to LoanMart’s website.
  2. Select your vehicle’s year, make, model and mileage. Then select your state of residence.
  3. Review your preapproval offer.
  4. Enter your full name, phone number, email and ZIP code.
  5. Read LaonMart’s disclosures, then click I Want My Cash.

LoanMart will provide you with an appointment number and instruct you to call for next steps. If you’re able to provide all the required documents and visit a branch, LoanMart may be able to fund your loan on the same day you apply.

What documents do I need to apply?

To complete your application, have these documents ready:

  • Year, make, model and mileage of your vehicle
  • Proof of income
  • Proof of residence

You can provide these documents by fax, email or by sending pictures.

How do repayments work with LoanMart?

LoanMart offers multiple repayment options, including paying by ACH transfer, check and through MoneyGram. You can keep track of your loan through LoanMart’s mobile app, and you’ll receive monthly billing statements to remind you when your payment is due.

Keep in mind that your loan may be costly and that your payments will mainly go toward interest. If you’re unable to repay your loan, you risk having your vehicle repossessed. Contact LoanMart if you have any questions or concerns about your title loan.

Not sure about LoanMart? You can browse other short-term loan options to find the best solution for your needs.

Are payday loans available in my state?

Frequently asked questions

Short-term loan ratings

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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.

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  1. Default Gravatar
    October 2, 2018

    How can i get a credit card with maybe 500$ limit im recently divorced an trying get back on my feet i draw disablity an hav no checking account is there nobody that can help with out a bank account tu

    • Avatarfinder Customer Care
      October 3, 2018

      Hi Melisa,

      Thank you for leaving a question.

      There are a lot of types of credit cards that you could choose from to suit your needs. Please check this link to see the overview of what type of cards are available for you. As well, when choosing a credit card on the comparison table, Kindly review and compare your options on the table displaying the available providers. Once you have chosen a particular provider, you may then click on the “Go to site” button and you will be redirected to the provider’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.
      Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. Hope this helps!


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