Frequently Asked Questions

What requirements do I need to get approved for an auto title loan from 1-800LoanMart?

You basically need a paid-off vehicle, income and willingness to pay back the loan. We can also consider your auto equity if you don’t have the title, but only have a few payments left on your current auto loan.

What sort of documents do I need to provide to get an auto title loan?

Typically, you will need to provide basic loan documents such as: a valid driver’s license, proof of residence and income, personal references and a copy of the auto title or registration.

Does my car need to be paid off?

No. If you have a few loan payments left on your auto with a traditional bank, dealership, credit union or another title loan company, we may still be able to loan you money. If there is sufficient equity in your auto, and you are able to pay for a new loan, we may pay off the other loan and you will get the extra cash.

How long would it take to qualify for a title loan from 1-800LoanMart?

The application process is extremely quick and easy. Qualifying for your auto equity loan takes a few short minutes, and funds can be issued to you in as little as an hour.

Do I need to be currently employed?

No. However, we do need to know that you have the means to make payments. This means you need to demonstrate some sort of income stream. If you have any questions call us at 800-562-6627.

Can I be on disability or retired and obtain a title loan?

Yes. You can also be a contract employee or self-employed. A title loan is a great option for people who have unusual income that varies monthly.

Do I need to have a bank account to obtain a title loan?

Only if you are self-employed or want loan funds wired to your bank account, otherwise no.

Would it be possible for me to have a co-borrower on my title loan?

Yes, you are allowed to have a co-borrower on your auto title loan. A co-borrower may be subject to certain criteria in the state of Illinois.

If you add a co-borrower to your application, they’ll also need to complete an application and provide basic loan documents such as: a valid driver’s license, proof of residence and proof of income.

How much does my car have to be worth?

Basically, your car needs to be worth more than the amount of money you are borrowing. It takes about two minutes to find out how much you can borrow. Call us today or “Qualify Your Vehicle Instantly!” on our website at no charge and no obligation. In addition to your vehicle value, we will take your income into account when assessing an approval amount.

How much can I borrow?

Each state is different; Utah and Illinois minimum loan amount start at $1,500 and up. California minimum loan amount starts at $2,510 and up. Arizona, Missouri and New Mexico minimum loan amount start at $750 and up.

What is the maximum amount I can borrow on a car title loan from 1-800LoanMart?

The maximum amount you can borrow is based on the value of your car, and your ability to repay the loan. However, some states govern the maximum loan amount. For example, the state of Illinois mandates that the maximum title loan amount not exceed $4000.

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 to 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 a car title loan from 1-800LoanMart?

At 1-800LoanMart, loans are easy to get. You simply need to call us at (800) 562-6627 and one of our friendly and helpful customer service representatives will do the rest. You can also download our Mobile App on your smartphone or apply Online. 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.

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) Sign loan documents and get your money.

The entire process can be completed within a matter of hours or less. You can expect to receive the funds the same day you apply.

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 budget, and work with you to make that happen. Of course, we 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 release the lien on your vehicle after 15 business days from the payoff date in most states where we operate. The state of Illinois requires that we release the lien 5 days after the payoff date. The title to your vehicle will be sent to the most current home address we have on file for you via regular mail.

Does my car title need to be in my name?

Not necessarily. We are licensed registration provider with the California DMV and can handle registrations and other transactions in other states as well. Let us do the paperwork for you, if the title should be in your name. You can have all this done at the same time you are sending us your information!

Do I have to go to the DMV?

No, 1-800LoanMart is a licensed registration service provider with the California DMV; therefore, we have the ability to take care of most transactions directly with the DMV. Upon review of your title, we will be able to determine how to proceed and we will provide you with detailed instructions.

Can I still get a car title loan if someone else’s name is on the title with mine?

Yes, you can. We have several options to work with. Please call 1-800LoanMart so we can help you apply appropriately and save you time. Be prepared to provide us with a copy of your title and the current vehicle registration to help expedite the process.

My vehicle is currently not registered in the state of where I reside. What do I need to do to be able to obtain a car title loan from 1-800LoanMart?

No problem, we can work with this scenario. Please call us so we can help you apply appropriately and save you time. Be prepared to provide us with a copy of your title and the current vehicle registration to help expedite the process.

I have not been able to find the title to my vehicle; would I still be able to get an auto title loan from 1-800LoanMart?

The answer is yes. If you’ve lost or cannot find the title to your car, we will gladly help you through the process of obtaining a new or duplicate title. If the reason you don’t have the title to your vehicle is because there is previous or current lienholder, we can work with them to get your title or documentation showing that the lien has been satisfied.

What does “equity” mean and how does it affect me when applying for an auto title loan with 1-800LoanMart?

As it pertains to an auto title loan, equity is the current market value of your automobile minus any outstanding principal loan balance. If your car is paid off then the equity is simply the value of your car. The higher your car’s equity or worth, the more money 1-800LoanMart will be able to let you borrow, depending on your ability to repay the loan amount.

How long does it take to get a title loan?

We are extremely fast. The application will take you about five minutes and the pre-approval in about two minutes. Loan underwriting and verifications can be completed in under an hour, and then you tell us where and how you would like to receive your loan funds.

How do title loans work?

Getting a title loan is easy! You basically, borrow money against the equity in your paid-off or nearly paid-off auto. We will assess your ability to pay the loan back, and the amount of equity in the unit, and that will determine how much you may borrow. We have streamlined the process to ensure your title loan experience is fast and enjoyable. The whole process is only three 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 your vehicle as collateral to secure the 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 your ability to repay a loan, and is secured by your vehicle as collateral. 1-800LoanMart will be listed on the vehicle’s title as the lienholder. You will get to keep driving the vehicle while paying off the title loan, just like you would when making payments on any type of car loan. An auto title loan differs from an auto pawn loan, which requires the customer to leave their vehicle with the pawn shop until their loan is paid-off 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 kinds of loans does 1-800LoanMart offer?

We have two loan products. Our core product is the Auto Title (secured) Loan. In California, we also offer a Signature (unsecured) Loan. Unlike the auto title loan, where the value of the vehicle helps to determine the loan amount and no credit score or particular income amount is required, our signature loan is a standard amount of $2600, requires a 640 credit score or higher and a minimum income of $2000 per month. Call us to find out which loan fits your needs.

Why is an Auto Title Loan better than a Payday loan?

A payday loan amount typically ranges from $100 to $300, is short-term and is to be paid back in full in 31 days or less. Payday loans rely on specific income for future repayment (such as your next paycheck or a pending tax refund), whereas an auto title loan is designed to advance much larger loan amounts (thousands of dollars) to be paid back over a longer period of time of 24 to 36 months.
In other words, an auto title loan is designed to cure financial needs, whereas a payday loan may be seen as a temporary fix.

Why get a car title loan from 1-800LoanMart?

Many consumers have found it advantageous to build a business relationship with 1-800LoanMart due to our reputable strength and size. In addition to a quality service experience, we grant every customer a lifetime membership in our generous Rewards program and provide consumer education through blogs and podcasts. We excitedly participate in community outreach and have established local and national sponsorships with organizations such as the Los Angeles Clippers basketball and Autism Speaks.

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 a 1-800LoanMart Auto Title Loan Specialist is the best way to find out if a pink slip loan fits your financial needs. An Auto Title Loan Specialist can be reached at 1.800.562.6627.

How will this help my credit?

Unlike most other title loan companies, 1-800LoanMart reports your payment history to Experian, one of the major credit reporting agencies. Doing so, can help raise your credit score and show other potential creditors your creditworthiness. Credit scores are heavily weighted on current accounts, so a successful payment history with 1-800LoanMart may help raise your credit score.

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. Our loan approvals are based on the available equity in your vehicle and your ability to pay back the loan. We’ll even loan you money if you’ve had a previous bankruptcy or repossession. Our car title loans do not have a credit score requirement. 1-800LoanMart recognizes that some people have financial difficulties from time to time, and that’s why we’re 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 your Experian credit report. But don’t worry; despite having bad credit or a previous bankruptcy, you can still get a loan. Our car title loans do not have a credit score requirement. We provide loans to customers with great credit or bad credit and unlike other title loan companies; we report your payment history to Experian, one of the major credit bureaus, so that it may help reestablish your creditworthiness.

How does my credit influence your decision on a pink slip loan?

Your credit is a small factor in 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 we do not have a credit score requirement. The determining factors for eligibility are vehicle value, gross income and the status of the title.

If I have filed for bankruptcy or have bad credit, will that hurt my chances of obtaining an auto title loan?

No. A previous bankruptcy or a derogatory credit history will not hurt your chances of qualifying for 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 1-800LoanMart Auto Title Loan Specialist is standing by at 800.562.6627 to help you determine if you qualify for an auto title loan.

When I apply for an auto title loan with 1-800LoanMart, do you guys run a credit check on me?

1-800LoanMart will pull your Experian credit report. But don’t worry; despite having bad credit or a previous bankruptcy, you can still get a loan. Our car title loans do not have a credit score requirement. We provide loans to customers with great credit or bad credit and unlike other title loan companies; we report your payment history to Experian, one of the major credit bureaus, so that it may help reestablish your creditworthiness.

Will I get a bill every month?

Just like with any other auto loan, you will receive a Billing Statement from us every month. The statement includes Account Information, Payment History, Important Messages, Billing Information and Payment Methods.

Is there a pre-payment penalty?

No. You can pay off the title loan at any time.

What will happen if I don’t make my payments on time for a car title loan?

If you are unable to make the scheduled payment on time, we ask that you contact us on or before the Due Date to make arrangements that are acceptable. If you are experiencing a temporary financial hardship, we may be able to extend a payment to the end of the loan that will not affect your credit rating.

What payment methods does 1-800LoanMart Offer?

There are several convenient payment methods available. You may mail your payments to our payment center, pay by phone with a check or credit/debit card, set up monthly automatic electronic payments from your checking account, go online to MyAccount or you may go to one of our payment locations.

How do I know when the due date will be for my first payment?

The Promissory Note and Security Agreement (contract) you sign will disclose “When Payments Are Due”. The first payment will be due 30 days after you receive your money and every 30 days thereafter, until the contract is paid in full.

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?

If you have a smartphone, you may download the LoanMart Mobile App to apply. apphttps://itunes.apple.com/us/app/loanmart/id557219033?mt=8 You may also download our credit application from DocuSign, which you may, print, complete and fax to our secured fax line number 818-285-2410. Simply follow the instructions below.

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 state laws to ensure we are 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. However, for borrowers requesting a larger than normal loan amount of $10,000 or more, we may request a GPS tracking device be installed to offset our risks.

Do you lend on classic cars?

We will consider classic cars for a 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 borrow. This costs you nothing! Why not get started now? Call us at 800.562.6627.

Do I get to drive my car while I pay off the auto title loan?

Absolutely. You keep and drive your car and we only affect the title and registration as lienholder until you pay the loan 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 car title loan immediately in most states. The state of Illinois requires a 15-day waiting period after pay off. Actually, if you have sufficient equity in your vehicle, and can pay a new payment, we may be able to rewrite the loan and advance more cash before you pay off the initial loan.

Am I able to receive an increase on my car title loan?

There is definitely a possibility to receive an additional cash increase. Call 1-800LoanMart to see what the requirements are and if you qualify for more cash.

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 may be able to give you the money you need today. Click the Locations tab on our Home webpage for state specific information.

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 Title Loan Questions

If you are contemplating getting a title loan, you may have many different financial questions. Whether you want to know more about what a 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, and you have a steady income stream, you may qualify for an auto title 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?

1-800LoanMart has worked in the industry for well over a decade and understands 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 banker 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 car 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 car title loan questions.

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