Borrow up to $50,000 through a Car Title Loan, and pay it off sooner than scheduled without worrying about penalties
LoanMart began operations in 2002 and specializes in providing Car Title Loans. These loans give you a simple way to borrow money without worrying about the typical hassles associated with borrowing from a bank. While LoanMart is a direct lender when it comes to proving auto title loans, there are certain instances when it also works as a broker for loans. You can apply for a LoanMart loan no matter where in the US you live – all you have to do is complete a simple application process.
- Product Name: LoanMart
- Loan Term: Up to 48 months
- APR: 30% to 165%
- Borrower Maximums: Up to 120% of your car’s equity
How do LoanMart Car Title Loans compare?
- If the provider quotes a different rate to the one above please let us know
Types of loans available from LoanMart
LoanMart, as mentioned, provides auto title loans, where the title of your car serves as collateral but you get continued use of your vehicle. Details of this secured loan are as follows.
- Car Title Loans. The maximum you can borrow through is loan is $50,000, although your ability to borrow depends on factors like the equity value of your car, state legislations, and your ability to make timely payments. You can apply for this loan online or over the phone and you don’t have to pay any application fees. If you don’t have good credit history you are still able to apply and you can pay off the loan ahead of time without paying any penalties.
What are the benefits of a Car Title Loan from LoanMart?
Knowing of the features this auto title loan comes with can help simplify the decision making process, and here’s what you can expect:
- Quick and easy. Applying for this loan is easy and takes little time. You can apply online, over the phone and via chat. You find out about your application’s status soon afterwards, and once approved you can look forward to getting your hands on the money the following business day.
- Apply with bad credit. Unlike most mainstream banks and lenders, LoanMart does not require you to have perfect credit history, so you can apply if you have a low credit score. What’s required is that you demonstrate an ability to repay.
- Large maximum amount. While a number of payday, short-term, and personal loans don’t allow you to borrow more than $1,000, you can look forward to borrowing as much as $50,000 through this loan. The amount you’re approved for depends on your vehicle and your financial situation.
- No early repayment penalties. By paying the loan off ahead of time you can save in the form of interest, and LoanMart does not charge any penalties for early repayments.
The fees and costs to know about
The fees you end up paying depend on the amount you borrow as well as your state of residence. LoanMart presents you with a loan agreement document that you have to sign in order to receive your funds, and this loan agreement lists out all applicable fees you might have to pay during the course of the loan. Merely applying for this loan does not cost you anything, and you can even receive a free no-obligation quote. Only after you sign the loan agreement does the loan actually come into effect so it’s best you review all associated fees ahead of time. All costs are included in the loan amount.
Is it safe to apply with LoanMart?
The Car Title Loans LoanMart provides are in accordance with loan, lender, and finance licenses from different states. LoanMart guarantees all your transactions under the Fair Credit Billing Act and it protects all the information you provide from misuse, loss, alteration, destruction and unauthorized access or disclosure.
How to apply for a Car Title Loan from LoanMart
You can complete and submit an application online, and if you need help you can apply over the phone or via online chat. To apply online, click on the ‘Go to Site’ button, but make sure you meet the requirements.
- You are over 18 years of age
- You are an American resident
Completing the application successfully requires that you provide the following information:
- Your complete name, phone number, email address, and residential address
- Details about your monthly income
- The year, make, and model of the vehicle you wish to use as collateral along with the number of miles it’s traveled
Frequently asked questions
How long does it take to apply?
If you have the required information close at hand you can complete the application in a matter of minutes.
How soon can I get my money?
Upon approval, you can expect funds to transfer into your bank account on the following business day. Same-day funding is possible in some cases, but this depends on what time you apply and how quickly you can provide the required documentation.
Does LoanMart keep my vehicle until I repay my loan?
No, you get to keep your vehicle as long as you keep making timely repayments. LoanMart only keeps the vehicle’s title as collateral.
I don’t have good credit history, can I still apply?
Yes you can, as long as you have a steady source of income and the ability to repay the loan in question.
Can I pay the loan off early?
Yes, you can pay the loan off as quickly as you want to. You don’t have to worry about paying any penalties for early repayment.