What requirements do I need to get approved for an auto title loan from 1-800LoanMart?
Paid-off car with a clean title and a willingness to pay back the loan.
What sort of documents do I need to provide to get an auto title loan?
You will need the following documents to get a car title loan (call us if you have
any questions):
Typically you will need to provide basic documents such as junk mail, proof of income,
a phone bill, and personal references. Based on the loan amount, or situation, we
may ask for additional documentation, which we will let you know at the time you
apply.
Does my car need to be paid off?
Actually no. Many people who have a few payments left on any loan (car title loan
with another company, bank loan, dealership financing, etc.) still qualify. What
we will do is pay off the loan and you get the extra cash. It's a great way to improve
or save your credit score and get caught up.
How long would it take to qualify for a car title loan from 1-800LoanMart?
The entire application process is extremely quick and easy. Qualifying for your
auto equity loan takes a few short minutes, and your funds can be issued to you
from 1-800LoanMart in as little as an hour.
Do I need to be currently employed?
No. We do need to know that you have the means to make payments. This means you
need some sort of income which you can prove. Talk to us about the amounts but don't
worry, as we do allow co-signers if needed.
Can I be on disability or retirement?
Yes. You can also be on contract or self-employed. This is a great option for people
who have income that varies monthly.
Do I need to have a bank account?
Only if you are self-employed, otherwise no.
Would it be possible for me to have a co-signer on my title loan?
Yes, you are allowed to use a co-signer on your auto title loan.
If you have a co-signer on your car title loan, we'll need a completed application
from him or her as well as a copy of his or her valid California driver's license,
proof of current residence, and proof of gross income. We also keep all non-public
personal data private and we don’t let the borrower know the co-signer's data and
vice versa.
How much does my car have to be worth?
The car needs to be worth more than the amount of money you are borrowing. It takes
2 minutes to find out how much you can borrow. Call today to see how much your car
qualifies for, there is no charge and no obligation.
How much can I borrow?
Each state is different; Utah and Illinois loans start at $1,500 and up. California
loans start at $2,510 and up. Arizona and New Mexico loans start at $750 and up.
What is the maximum amount I can borrow on an auto title loan from 1-800LoanMart?
The maximum amount you can borrow is based on the value of your vehicle and the
equity you have as well.
Can I do whatever I want with the funds I borrow from 1-800LoanMart?
Yes, of course you can. After all, it is your money. You can spend it however you
please! There are definitely no restrictions or limits on how you use or what you
can do with the money you borrow. You can use it to pay overdue bills, for an unexpected
medical emergency, to make repairs or improvements your home or vehicle, to take
a nice vacation, and for many other things. We always suggest you use the money
you borrow from 1-800LoanMart responsibly since you will need to pay it back.
How do I apply for an auto title loan from 1-800LoanMart?
At 1-800LoanMart, loans are easy to get. You simply need to fill out an application,
send us a few documents and one of our friendly and helpful customer service representatives
will do the rest.
Apply Online or call (800) 562-6627
Click here to get started.
How do I get in touch with 1-800LoanMart?
You can call us at 1-800-562-6627, E-mail us at:
contact800@800loanmart.com or Apply Online.
What happens after my application is approved?
You will be contacted via email or telephone with your approved loan amount and
terms. Then, a 1-800LoanMart loan specialist will set up a convenient time to bring
the loan contract to you for you to sign.
How long is the application process for an auto equity loan?
Our application process is very simple. It only takes 3 easy steps to get the money
you need:
1) apply now
2) submit documents for verification
3) get your money. The process can take as little as one hour but you can most likely
expect to receive the funds the same day you apply.
How do I complete a car title loan with 1-800LoanMart if I don’t want to go to one
of your offices?
That is no problem at all. We will simply come to you. Yes, we’ll send one of our
loan specialists to your home or workplace to complete your car title loan and deliver
your money.
My loan application is already in process, how can I submit a signed Credit Application
online?
a) If you are applying for an individual credit application, please
click here.
b) If your loan requires a co-borrower, please
click here.
How long do I have to pay my loan back?
Our loans typically range from 12 up to 36 months. We want your payment to be comfortable
for your situation, and work with you to make that happen. Paying your payments
on time will help assure that your payoff goes down every month. Of course, we will
never penalize you for paying off early, or for paying extra.
How do I obtain the title to my car after I have paid off the auto title loan?
After you have paid off your car title loan, 1-800LoanMart will have the title to
your vehicle returned to you.
Does my car title need to be in my name?
Yes. The person whose name appears on the title is the one who gets the title loan.
Any issues? Let us do the DMV work for you! You can have all this done at the same
time you are sending us your info!
Do I have to go to the DMV?
No, we will take care of all the DMV work for you. All you have to do is bring us
the title, and we will do all the work. We keep the title while your loan is open,
and mail it back to you upon payoff.
Can I still get a car title loan if someone else’s name is on the title with mine?
Yes you can. For example, in a scenario where the car title is in the names of “Jon
and Jane Jones” or “Jon/Jane Jones” then either both Jon and Jane will need to apply
for the car title loan or the individual who doesn’t want to be on the auto title
loan will need to sign a release to allow the vehicle to be used as collateral.
If the car title reads "Jon or Jane Jones" then either Jon or Jane may apply for
the title loan without the other being involved at all. Please call 1-800LoanMart
so we can help you apply appropriately and save you time.
My vehicle is currently not registered in the state of California. What do I need
to do to be able to obtain a car title loan from 1-800LoanMart?
We can do it for you.
I have not been able to find the title to my vehicle; would I still be able to get
a car title loan from you guys?
The answer is yes. If you’ve lost or cannot find the title to your car, we will
gladly help you complete your title loan and obtain a new title. If we approve your
car title loan and the reason you don’t have the title to your vehicle is because
there is already another lien holder on the car, we can work with them to get your
title.
What does “equity” mean and how does it affect me when applying for an auto title
loan with LoanMart?
Equity is the current market value of your vehicle minus the outstanding principal
balance. If your car is paid off then the Equity is simply the value of your car.
The higher your vehicle’s equity or worth, the more money 1-800LoanMart will be
able to let you borrow through your car title loan. 1-800LoanMart cannot finance
through a vehicle with a wholesale value lower than $3,000.
How do I get the money?
We can conveniently deliver a check to you.
How long does it take to get a title loan?
We are extremely fast. The application will take you about 5 minutes. Pre-approval
in about 2 minutes. Paperwork processing and underwriting in under an hour and cash
in hand that day or the next. Let us know what you prefer.
How do title loans work?
Getting a title loan is easy! We have streamlined the process to ensure your title
loan experience is fast and enjoyable. The whole process is only 3 steps and we
can have money in your hands as fast as today! A car title loan is easy to qualify
for because you are using the money you have already put in your vehicle to secure
a loan today. You are not selling the car to us, just using the vehicle's value
as your passport into a loan.
What is an Auto Title Loan?
An Auto title loan is a personal loan that is based on the value of your vehicle
and is secured by your vehicle as collateral. The lender, 1-800LoanMart in our case,
is put on the vehicle’s title as the lien holder. The customer will get to keep
driving the vehicle while having the title loan, just like one would when making
payments on a regular financed car purchase. An auto title loan differs from an
auto pawn loan, which will require the customer to leave their vehicle with the
pawn shop.
See our “
How It Works” section for
more details about how auto title loans work.
Are car title loans, car equity loans, auto title loans, auto equity loans, pink
slip loans, different kinds of loans?
They are all the same type of loan. Car Title Loans are also known by several other
names including:
- pink slip loans
- auto title loans
- automobile title loans
- car equity loans
- auto equity loans
- cash for car title loans
- title loans
- auto collateral loans
- title loans with bad credit
What kind of loans does 1-800LoanMart offer?
We have two types of loans available for you. With our Car Title Loans, you can
still keep driving your car and we’ll lend you up to 85% of the value of your vehicle.
With our Signature Loans you don’t need a vehicle to use as collateral to borrow
money but we do require you have a 620 FICO score or higher and the amount you can
borrow is $2,600. Speak with your Car Title Loan specialist to find out which loan
type is right for your needs.
Why is an Auto Title Loan better than a payday loan?
Unlike a 2 week payday loan, this is a long term loan, which you pay only a portion
of each month. If you pay your payment on time every month, your loan will end on
a date shown on your contract, and you will owe nothing. A payday loan starts over
each time you take out a new one, causing you to pay forever without ever making
any head way.
Why get a car title loan from 1-800LoanMart?
A car title loan lets you to borrow funds based on the value of your car while still
being able to keep driving it. You don’t have to worry if you have bad credit or
no credit since auto title loans are based more on the value of your vehicle than
it is on your credit score.
Why would I choose a pink slip loan over a traditional bank loan?
The reality is that consumers choose pink slip loans because the vast majority of
them will not qualify for a traditional bank loan. Pink slip loans are also processed
a lot faster and have far less requirements than bank loans. Calling your 1-800LoanMart
Auto Title Loan specialist is the best way to find out if a pink slip loan fits
your financial situation. Your Auto Title Loan specialist can be reached at 1.800.562.6627.
How will this help my credit?
Unlike most other auto title loan companies, 1-800LoanMart reports to the major
credit reporting agencies. This means that your account will show on credit bureau,
and every month that you pay, it will reflect positively. Credit scores are heavily
weighted on current accounts, so even if you have bad credit in your past, this
loan will help to raise your credit score, and help you obtain new credit in the
future.
I have extremely bad credit. Can I still get approved for a title loan?
Yes, you can get approved for a title loan from 1-800LoanMart despite having bad
credit. We approve loans for customers depending on how much their vehicle is worth,
their capability to pay back, and the info they provide on their application. Your
car title loan can be approved as soon as today, regardless of your credit history.
1-800LoanMart recognizes that some people have financial difficulties from time
to time, and 1-800LoanMart is here to assist you. Call us and a loan specialist
will be happy to give you more details.
Will 1-800LoanMart obtain a credit report on me?
1-800LoanMart will pull a credit report on you but despite having bad credit or
a past bankruptcy, you can still get a loan. Our car title loans do not have a credit
score limit. Just ask our past and current customers. We have provided loans to
customers with a bad credit history, great credit history, and weak credit files.
1-800LoanMart examines all of the info you give us to make its own determination
about approving a loan for you.
How does my credit influence your decision on a pink slip loan?
Your credit is a small factor on determining if you will qualify for a pink slip
loan. 1-800LoanMart does perform a credit check when a consumer applies for a title
loan, but it is only for internal documentation. The determining factors for a customer’s
eligibility are vehicle value, gross income, vehicle condition, and the clean status
of the title. These are not the only determining conditions, but the most important.
For a complete list of requirements, call us to speak to one of our Car Title Loan
specialists at 1-800-562-6627.
If I have filed for bankruptcy or have bad credit, will that hurt my chances of
obtaining an auto title loan?
This won’t really hurt your chances of getting an auto title loan since title loans
are based more on the value of your vehicle. The most effective way to find out
if you are eligible for a car title loan is to complete the application. A skilled
Car Title Loan specialist from 1-800LoanMart will then contact you and go over it
to determine if you qualify for the auto title loan.
When I apply for an auto title loan with 1-800LoanMart, do you guys run a credit
check on me?
Yes we will. When customers apply for an auto title loan through us we will perform
a credit check. It’s really not a biggie because the value of the car plays a bigger
role in the application process.
Will I get a bill every month?
Just like any other auto loan, you will get a bill from us every month. It will
show your balance, payment amount due, and the various ways that you can pay. We
currently take multiple payment methods to make it quick and easy for you to pay
your bill. For your convenience, we also give you the option of setting up a monthly
auto pay.
Is there a pre-payment penalty?
No. You can pay off the title loan at anytime. We suggest paying it back as soon
as you can, however we will write the loan for an extended period of time to give
you the time you need, if you need it.
What will happen if I don’t make my payments on time for a car title loan?
If a customer doesn’t make a payment or is not responsive to the lender, then there
is a possibility that your vehicle could be repossessed. Repossession of a vehicle
is contemplated only when it is the last option since it is very costly and time
consuming. It could also negatively affect your credit score.
What payment options does 1-800LoanMart Offer?
There are several options conveniently available for you. You may mail your payments
to our payment center, pay by phone with a check, set up monthly automatic electronic
debits from your checking account or you may go to payment locations.
How do I know when the due date will be for my first payment?
Your first payment will be due 30 days after you receive your money.
I'm worried and don’t feel very comfortable about providing my Social Security Number
on your online application form. What other alternatives are there for me to apply
for a car title loan?
Download our app, which you may complete, print, and fax to our secured
fax number 818-285-2410.
a) If you are applying for an individual credit application, please
click here.
b) If your loan requires a co-borrower, please
click here.
How secure is my personal information?
The security of your information is very important to 1-800LoanMart. If our customers
didn't trust us with their valuable information, we would be out of business. Here
is what we do to protect your information:
- Your information will not be stored on our Web server computers.
- To protect the transmission of your information we use state-of-the-art Secure Sockets
Layer (SSL) encryption.
How SSL works:
- When you fill out a form on our Web site in your browser and click the Submit button,
the information you entered is first encrypted while it is on your computer and
then sent to our Web server computers. Our program on the Web server re-encrypts
your information and sends it to another computer in a different location that is
protected by a firewall, among other technologies. That's where we look at your
information.
- We always shred any paper we have with customer information on it when we no longer
need it.
- We comply with all Federal and California laws protecting your privacy.
- See our Privacy Policy for more information regarding the privacy of your information.
I received a solicitation letter from 1-800LoanMart. How do I opt out?
You may definitely opt out of any future solicitations. Click links below to view
entire opt out notice.
You can download a new notice here:
Download Federal Notice
You can download a new notice for California residents here:
Download California Notice
Do you put a tracking device on all your customer’s cars?
Unlike other companies, we do NOT put tracking devices on all our customer’s cars.
We want to help you payoff your account with us, and are not looking for ways to
repossess it.
Do you lend on classic cars?
We will consider classic cars for a car title loan. Since we are not a bank, we
control our rules and requirements. We have professionals on staff who can tell
you immediately what your classic car will qualify for.
Do you charge anything to see if I qualify for the loan?
Not a cent! The whole process of getting a title loan starts with finding out how
much you can get. Then you need to get your personal questions answered so that
you have a customized loan just for you. This costs you nothing! Why not get started
now?
Do I get to drive my car during the auto title loan?
Absolutely. One of the greatest things of a car title loan with us is the fact that
you always drive your car. Do your application online and let us work with you through
the application process. Once approved, drive right up to our nearest location,
sign off on the paperwork and get your money and drive off.
Once I pay off my car title loan, how quickly can I apply for another car title
loan?
You can apply and be approved for another auto title loan immediately if the state
you live in allows it, except Illinois.
Am I able to receive an increase on my auto title loan?
There is definitely a possibility to receive an increase. Call 1-800LoanMart to
see what the requirements are and if you qualify for an increase.
Is 1-800LoanMart a licensed lender?
Some states require 1-800LoanMart to have a license, while other states require registration.
1-800LoanMart is licensed as a lender in Arizona, California, New Mexico, Missouri and Illinois.
In Utah, we are registered with the Utah Department of Financial Institutions as a Title Lender.
Where does 1-800LoanMart do business?
1-800LoanMart proudly serves the states of California, Arizona, New Mexico, Utah,
Missouri and Illinois. As long as you have a clean car title in those states, 1-800LoanMart
can give you the money you need today. Click on the locations tab.
What is the cost of my credit going to be?
Our interest rates vary based on the state of residency, and the terms agreed to.
Our annual interest rates vary between 60% and 180%. For a typical loan of $2500
at 90% interest, the average term is 18 months, with a payment of $257.57. The total
scheduled interest on this loan would be $2136.26. The interest on a loan may vary
based on timing of payments made.
Click
here for Utah Fee Schedule.
Getting Answers To Your Auto Title Loan Questions
If you are contemplating getting an auto title loan, you may have many different financial questions. Whether you want to know more about what an auto title loan is or what you need to do to qualify for a loan, 1-800LoanMart has the answers for you. In our Frequently Asked Questions (FAQs) section you will find the answers to the majority of your questions.
Why Consider an Auto Title Loan?
One of the most important questions people have is why they should consider an auto title loan. There are several benefits to this type of loan. One of the biggest reasons for getting this type of loan is because you may not be able to qualify for other types of loans. When you have bad credit, or are self-employed or unemployed but receiving disability or retirement income, many traditional lending institutions won't even talk to you about a loan. With an auto title loan your car is your collateral, so none of those other things will make much difference. As long as there is value in your car, you can qualify for a loan. This means that when you really need cash, you have a way to get it.
Why Come to 1-800LoanMart for Answers to Title Loan-Related Financial Questions?
At 1-800LoanMart we have worked in the industry for well over a decade and understand the laws of each state as they pertain specifically to car title loans. We are specialists in custom lending services, and we believe you should ask financial questions to the experts. You wouldn't ask a baker questions about problems with your automobile, you would go to an automotive specialist. Just so, you should ask any questions you may have about the auto title loan process from the premier lender in the industry. Our friendly customer service representatives are standing by to take your call or visit with you through an online chat.
Contact 1-800LoanMart today for answers to all of your auto title loan questions.