LoanMart Logo

LoanMart auto title loan review

A LoanMart auto title loan allows you to borrow money against your car, even if you have bad credit.

If you have bad credit and find yourself in a financial emergency, you might be looking for an alternative to traditional bank loans. If a payday loan doesn’t appeal to you, an auto title loan could be the solution you’re looking for. These loans give you a simple way to borrow money without worrying about the typical hurdles associated with borrowing from a bank or the quick repayment schedule of a payday loan.

LoanMart specializes in providing auto title loans. If you own a car, you can take advantage of their services and get funds as soon as the next business day.

Product Information

  • Product Name: LoanMart title loan
  • Loan Term: 12 to 36 months
  • APR: 60% to 180% (varies by state)
  • Borrower Maximums: Up to 120% of your car’s equity

What is an auto title loan and how does it work?

An auto title loan is a secured personal loan that 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

How do LoanMart auto title loans compare?

Rates last updated November 24th, 2017
Unfortunately, none of the short term loan providers currently offer loans in your state. Learn more about short term loans in your state to find an alternative.
Name Product Product Description Maximum Loan Amount Term of Loan Turnaround Time Requirements
LendUp Payday Loans
LendUp offers $250 loans for first-time borrowers. Good credit is not required. Visit the site to see if available in your state.
$250
7–30 days
generally receive the money the next business day
Be 18+ years of age and have a checking account that can accept electronic transfers.
CashNetUSA Loan
Apply for a short-term loan with an easy online application and dedicated customer service.
Varies by state
Varies by state
1 business day
You must be a US citizen or permanent resident, be at least 18 years old and have regular income and a bank account.
Check into Cash Payday Loan
With 1,000 branches in 30 states, get $50 to $1,000 in days from this direct lender.
$1,000
Varies by state
1–2 business days
You must be at least 21 and an American citizen and have a bank account, email address and phone number.
ACE Cash Express Payday Loans
Quick short term, installment and title loans come with no prepayment penalty and a 72-hour satisfaction guarantee.
Varies by state
Varies by state
Generally receive the money the next business day
Must be 18+ years old, have a steady source of income and a checking or savings account. Must not be a debtor in bankruptcy.

Compare up to 4 providers

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

  • Quick and easy. Applying for a loan is easy and takes about 5 minutes. You can apply online, over the phone or in person at a LoanMart store.
  • Apply with bad credit. Unlike most mainstream banks and lenders, LoanMart doesn’t require you to have a perfect credit history. You can apply even if you have a low credit score as long as you show an ability to repay.
  • Large maximum amount. You might be able to borrow as much as 120% of your car’s equity through a LoanMart auto title loan. The amount you’re approved for depends on your vehicle, your financial situation and your state of residence.
  • No early repayment penalties. LoanMart doesn’t charge any penalties for early repayment. By paying the loan off ahead of time, you can save money by reducing the amount of interest you accumulate.
  • Multiple ways to receive funds. You can receive your loan as cash, check or through a wire transfer.
  • Available in multiple states. LoanMart conducts business in Alabama, Arizona, California, Georgia, Illinois, Missouri, New Mexico, South Carolina and Utah.

What are the costs of a LoanMart auto title loan?

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 180%.

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.

Is it safe to apply with LoanMart?

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

How to apply for a auto title loan from LoanMart

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:

  • Be at least 18 years old (varies by state)
  • Be a citizen or permanent resident of the US
  • Fully own your car
  • Have a regular monthly income


Required information:

  • Your complete name, phone number, email address and residential address
  • The year, make and model of the vehicle you wish to use as collateral and its mileage
  • Proof of income (paycheck stubs, invoices or bank account statements)
  • Proof of residence (a piece of recent mail like a utility bill)

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

Are payday loans available in my state?

Frequently asked questions

Was this content helpful to you? No  Yes

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, read the PDS or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and our Privacy Policy.

US Payday Loans Offers

Learn about our information service
Slam Dunk Loans

Potentially get approved for a short-term loan through this lender-connection service, even with poor credit history.

LendUp Payday Loans

LendUp offers $250 loans for first-time borrowers. Good credit is not required. Visit the site to see if available in your state.

Check into Cash Payday Loan

With 1,000 branches in 30 states, get $50 to $1,000 in days from this direct lender.

OppLoans Installment Loans

Installment loans with competitive rates from a top-rated direct lender.