One of the hardest parts of looking for the right title loan when your credit is less than ideal is finding an alternative loan that doesn’t rely solely on credit.
Fortunately, with alternative loan options like title loans serviced by LoanMart, the search process for loan approval in Springfield, Illinois becomes much easier.
What is a Title Loan Serviced by LoanMart in Illinois?
A title loan serviced by LoanMart is a loan that is secured through collateral in the form of your vehicle’s title. Your vehicle’s title will be returned once the title loan is paid in full, and one of the benefits of using title loans is the ability to keep driving during the loan repayment process.
Title loan borrowers receive additional benefits upon approval, which include extended loan terms, flexible loan options, and potentially low interest rates than other alternative loan options in Springfield, Illinois. Another benefit is the fast approval process of the loan1. Some residents in Springfield were approved in less than thirty minutes1!
Does a Title Loan Require a Credit Check for Approval in Springfield, Illinois?
Unlike traditional bank loans, with title loans serviced by LoanMart, credit does not always matter in the approval process1. As a result of using the vehicle title as collateral, there are certain benefits for those who may not be confident with their current credit situation.
Different than traditional bank loans that typically rely solely on credit for approval, title loans serviced by LoanMart have flexible eligibility requirements1.
While a credit check is mandatory for any loan in Illinois, know that title loans serviced by LoanMart focus heavily on your vehicle’s equity and your ability to repay–not just your financial history1.
How Can I Qualify for a Title Loan Serviced by LoanMart in Springfield, Illinois?
When you are not confident in your credit, the title loan approval process can seem uncertain. Fortunately for residents in Springfield, Illinois, credit is not the most important factor in the approval process1.
The initial requirements of a title loan serviced by LoanMart are:
- Be 18 years of age or older
- Own a vehicle in your name
- Have a steady income
With these initial requirements met, there are a few additional documents required during the approval process. When applying for a title loan serviced by LoanMart, there a few documents you should have ready.
- A valid government-issued photo ID (state ID, driver’s license, or passport)
- Proof of income (bank statement, paystub, checking account statement, etc.)
- Proof of residency (utility bill, lease agreement, etc.)
- Qualifying title to your vehicle in your name
One of the benefits of applying through title loans serviced by LoanMart is the ability to apply anytime through your smartphone, tablet, or computer! With these documents on hand, you may be well on your way to the next steps in the approval process with title loans serviced by LoanMart1.
A vehicle inspection will need to be done as well and can be done online! The inspection will require clear photos of the vehicle from every angle, and details on the make, model, year, and current mileage.
Why Choose Title Loans Serviced by LoanMart in Springfield, Illinois?
If you’re looking for a title loan that can offer flexible loan options and a speedy approval process, title loans serviced by LoanMart could potentially be the best option available to you in Springfield, Illinois.
Choosing title loans serviced by LoanMart for your title loan needs can potentially help your financial situation and get you the cash you need fast1.
What sets title loans serviced by LoanMart apart from other loan options is the convenience of the inquiry process. You may apply online and receive flexible loan options in almost no time at all1!
Credit Does Not Always Matter
While other traditional forms of funding may rely on credit to secure your loan, choosing title loans serviced by LoanMart means receiving flexible eligibility requirements1.
Lower Interest Rates
As a result of using your vehicle’s title as collateral to secure the loan, the interest rates start and stay competitive throughout the repayment process.
More Time to Pay
With title loans serviced by LoanMart, you could take your time repaying the loan. Title loans serviced by LoanMart offers borrowers years for repayment! But if you prefer, you could pay the loan off early without pre-payment penalties!
Monthly Payments are Low
Choosing title loans serviced by LoanMart for funding can mean receiving low monthly payments!
Apply for a Title Loan Serviced by LoanMart in Springfield, Illinois
Through title loans serviced by LoanMart you could get the emergency cash you need without all the hassle of a traditional bank loan. If you’re looking to get the finances you need, title loans serviced by LoanMart may be able to help1.
Apply online at any time through the website or call customer service.