Title Loan Calculator

What is a Title Loan Calculator?

When it comes to traditional loans, your credit score and financial history are used to determine your eligibility and loan amount. However, title loans operate somewhat differently. Your vehicle plays a key role during the application process for a car title loan. Since the car will be used as collateral for the loan, its value is important. Title lenders will primarily use your car’s equity and your income to determine how much you can be approved for.¹

A title loan calculator can be a useful tool if you do not know whether your car has enough equity to qualify as collateral for a title loan! You can use LoanMart’s online title loan calculator to obtain an estimate of your car’s equity and a title loan quote, free of obligation.¹

Since potential borrowers can use the online title loan calculator to get a title loan estimate in just minutes, this tool can be especially beneficial for those looking for emergency funding!^{1, 3} Just enter your information, and the calculator does the hard work for you.

How Can I Find the Equity in My Car?

So, how can you find the equity in your car? In simple terms, vehicle equity is the difference between the value of the car and the amount owed on it. Positive equity occurs when a vehicle is worth more than what is owed on it. A vehicle owner can determine if they have positive or negative equity in their vehicle by subtracting what they owe from its market value. Typically, if an individual has paid off their car loan and owes nothing, the vehicle equity would be equal to the car’s current market value.

Not sure if your car has positive equity? Just use the title loan calculator to get a car equity estimate and pre-approval for a title loan in minutes!^{1 3} To use this tool, simply enter the basic information about your car into the form.

Looking to qualify for a title loan serviced by LoanMart? Just fill out this pre-qualification form or call 855-422-7412 to speak directly with a title loan agent.¹

Here’s an Example of How Equity Works:

Let’s take a 2015 Ford F-150 with 75,000 miles on the odometer that’s in good condition. According to Kelley Blue Book the value is around $6,650-$8,175. That range is based on its make, model, style, current condition and mileage. If the car owner still owes $3,000, the equity in the Ford F-150 is around $3,650-$5,175 after subtracting the remaining loan balance from the current value.

How Can I Use the Title Loan Calculator to Receive a Loan Value Estimate?

You can access the auto equity loan calculator on the LoanMart website from a computer, smartphone, or any handheld device that can access the internet. From there, you can quickly calculate how much your vehicle may qualify for by providing the following information:¹

• Vehicle Year, Make, Model, Style and Current Mileage
• Residence State

Once all this information is submitted, you can receive a title loan estimate instantly! If the estimated title loan value is in-line with what you’re looking to borrow, you can move forward with a full online application for a title loan serviced by LoanMart, or call a title loan agent at 855-422-7412 if you have any questions!¹

Applying for an auto title loan serviced by LoanMart can take as little as five minutes with the car title loan calculator tool, and eligible borrowers may receive funding as quickly as one business day!^{1, 3}

Can I Calculate My Car Title Loan Payments?

Yes! If you are looking for a calculator to help you estimate your potential monthly title loan payments instead of the potential title loan value of your vehicle, you can use our title loan payment calculator to get an approximate idea of how much you’d need to budget for each month to repay your loan.^{1, 5} This payment calculator allows you to understand how borrowing smaller or larger loan amounts, choosing a shorter or longer loan terms and being approved for a lower or higher interest rate can impact estimated loan payments.^{1, 5}

Can I Pay My Car Title Loan Early?

Yes, normally you can repay your title loan early. However, some title lenders will charge prepayment penalties. The loan agreement should clearly state whether you will be charged a fee if you repay the money early. Lenders may charge prepayment penalties to compensate for the interest they would have earned if the borrower had continued to make payments according to the original loan terms.

With a title loan serviced by LoanMart, there are no prepayment penalties or hidden fees, and you can pay the money back as quickly as you are able to.⁵ Ultimately, the decision to pay off a loan early is a personal one that depends on your individual circumstances and financial goals.

Call Our Team

Take the first step and call our toll-free hotline to speak with a specialist.

855-422-7412

LoanMart offers several convenient payment methods if you take out a loan against your vehicle, including online payments, payments over the phone and cash payments at participating money transfer locations.

What Are the Benefits of Using a Title Loan Calculator?

Using a title loan value calculator can help you get a quick estimate of the potential title loan value of your vehicle, without spending a lot of time to submit a full title loan application.¹

Using a title loan payment calculator can help you get an idea of how large potential loan payments might be, depending on the loan amount you’re looking to borrow, and your estimated loan terms.¹

Regardless of which calculator you use, spending some to review your potential options and simulate certain loan structures before applying for a car title loan can save you time and allow you to make an informed decision. If a car title loan is a potential fit based on your financial needs and your ability to afford the monthly payments, apply today for an online title loan serviced by LoanMart. Whether you’re looking to borrow against your car title in Arizona, Florida, Minnesota, Texas or another serviced state, loans based on your vehicle’s equity can be fast and convenient.

Where Can I Get a Title Loan After Using the Title Loan Calculator?

If you’re choosing to move forward with a title loan application after using the calculator, we’d be happy if you choose to apply for a LoanMart-serviced loan. Before doing so, you should make sure that you meet the initial requirements, which include the following:

• Be an Adult at Least 18 Years of Age or Older
• Have a Car Title in Your Name
• Have Verifiable Income

If you submit your details in the car title loan calculator and are pre-approved, a title loan agent will then ask you to submit some documents to confirm your vehicle ownership and application information. You will need to provide the following documents:¹

• A Valid Government-Issued Photo I.D.
• Proof of Address
• Proof of Income
• Recent Photos of the Vehicle and the Vehicle’s Title

You can conveniently submit these documents via email or text message, or upload them online to the customer portal! Once your documents have been reviewed and verified, your loan can be finalized.¹ To finalize your loan, carefully read and then sign your loan agreement and choose how to collect your title loan funds! You can receive your money through direct deposit, a mailed check to your address, or collect it in person at a participating money transfer location.

If you need to access money quickly, auto title loans serviced by LoanMart could be the answer! Find out if you qualify for funding by using the title loan estimate calculator today.¹