Loanmart

Frequently Asked Questions

You are here: Home  »  Title Loans  »  FAQs

General Information

If you are a first time Auto Title Loan borrower, you will probably have basic questions such as what exactly is an Auto Title Loan, how can LoanMart help you, and so on. This section will answer most of those questions.

Questions about LoanMart

Not a cent! You can find out how much you qualify for free of charge. Why not get started right now? Apply online or call us at 1-844-237-5530 .
LoanMart is a lending service that has been in the Auto Title Loan business since over a decade. Thousands of customers have trusted us with their car titles and their sensitive personal information. Besides, large lending services such as LoanMart have the privilege of containing a range of departments in-house. LoanMart even has its own DMV, so that you don't have to wait in long lines at the DMV office. We can help you get a loan in as little as 24 hours.
LoanMart proudly serves the states of California, Arizona, New Mexico, Utah, Missouri, Illinois, Alabama, South Dakota and Wisconsin. As long as you have a clean car title in those states, LoanMart may be able to give you the money you need today.
Our interest rates vary based on the state of residency and the agreed terms. 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.
The security of your information is very important to LoanMart. Here is what we do to protect your information:
  1. Your information will not be stored on our Web server computers.
  2. To protect the transmission of your information we use state-of-the-art Secure Sockets Layer (SSL) encryption.
  3. We always shred any paper we have with customer information on it when we no longer need it.
  4. We comply with all federal and state laws to ensure we are protecting your privacy.
  5. See our Privacy Policy for details regarding the privacy of your information.
Some states require LoanMart to have a license, while other states require registration.
You may definitely opt out of any future solicitations. Click the 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

Questions about Auto Title Loans

An Auto Title Loan is a personal loan that is based on the value of your vehicle, and your ability to repay it. An Auto Title Loan is secured by keeping just the title of your vehicle as collateral. You get to keep driving the vehicle while paying off your loan amount. An Auto Title Loan is different from an auto pawn loan, which requires the customer to leave their vehicle at the pawn shop until their loan is paid-off. See our How It Works section for more details about how Auto Title Loans work.
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
A payday loan amount typically ranges from $100 to $300, is short-term and has to be paid back in full in less than 31 days. Payday loans rely on specific income for their repayments (such as your next paycheck or a pending tax refund). On the other hand, an Auto Title Loan is designed to advance much larger loan amounts (thousands of dollars), and can be paid back over a longer period of time (usually 24 to 36 months). In other words, a payday loan may be seen like a temporary fix, whereas an Auto Title Loan is designed to fulfill financial needs.
Auto Title Loans are also processed a lot faster and have fewer requirements compared to traditional bank loans. LoanMart understands that an emergency means “now”, not a few days from now. That’s why our loan application process is quick and easy.
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.
In terms of Auto Title Loan, equity is the current market value of your automobile minus any outstanding principal loan balance that you may have. If your car is paid off, the equity is simply the value of your car. The higher your car’s equity or worth, the more money LoanMart will be able to lend you depending on your ability to repay it.