It can be difficult to reach a lender offering title loans. You can apply online, but some people really prefer to speak to a live human being. LoanMart understands this and makes it easy to apply for a car title loan over the phone.
No matter how you decide to apply for a car title loan, it can be a great way to get funds to cover an unexpected expense in an emergency. One of the major advantages is that there’s no long application process. You may be able to receive your funds in a much shorter amount of time relative to other types of loans1.
Lenders are also much less interested in your credit score. They are more concerned with your ability to pay back your loan, and the value of your vehicle. You’ll need a car with a qualifying title and a few other pieces of information when you apply for your car title loan.
How much can I get for a car title loan over the phone with LoanMart?
The amount of money you may be able to borrow will depend on:
- How much your car is worth
- Your ability to repay the loan
- The loan terms
What do I need to apply for a car title loan over the phone?
There’s only a few things you’ll need to provide when applying for a car title loan over the phone with LoanMart:
- Qualifying car title in your name
- Some form of Proof of Income
- Photos of all sides of your vehicle
- Government-Issued photo I.D. – like a driver’s license
- Proof of Residence
What is proof of income for a car title loan from LoanMart?
Many people think the only way to show proof of income is a paystub. There are actually a number of ways to show you have income. You can use things like:
- An annuity
- Workers’ Compensation
- Social Security benefits
How do I submit my documents for a car title loan over the phone?
There are three main ways you can submit your title loan documents to LoanMart:
- Text them to LoanMart
- Email them to LoanMart
- Drop them at a participating store
How do I get a copy of my car’s title for a car title loan over the phone?
Your local Department of Motor Vehicles (“DMV”) may be able to help you get a duplicate title. They may even be able to provide you with an expedited copy. Depending on the circumstances, LoanMart may be able to direct you to the nearest DMV capable of helping you, or even assist you directly with getting your car title. If you are able to, adding LoanMart as a lienholder when you have your title reissued can reduce the turnaround time on your loan.
How much does interest cost for a title loan over the phone?
This will depend on the state you live in. Some states have no laws governing interest rate. Others have caps on interest rates, though these can still be quite high.
Are there any other costs for a car title loan over the phone?
A reputable lender won’t charge you for simply applying for a car title loan. There may be other fees associated with the loan however. Lenders should outline any fees and costs other than interest associated with your loan.
How long do I have to pay back my car title loan?
LoanMart’s loan terms range from 12-48 months.
What happens if I can’t pay back my car title loan?
If a borrower can’t pay their car title loan back, their car may get repossessed. The exact procedure varies by state, potentially even by title loan company. Once the borrower goes into default on their loan, the lender usually gets the right to repossess the borrower’s car.
In some states they are required to give borrowers notice, but not in every state. After the car is repossessed, borrowers may have one final chance to pay the balance of their loan. Otherwise, the car goes to auction. The objective of the auction is to recover the balance of the loan. Depending on the state, lenders may or may not be able to pursue borrowers for additional financial compensation if the auction doesn’t cover the balance of their loan, interest, and fees. Finally, if the auction recovers more than the balance of the loan, lenders may have to return the surplus to the borrower, but not in all cases.
How do I get a title loan over the phone with LoanMart?
Now that you know a little more about what you need to do to get a title loan over the phone and title loans in general, you can see that a LoanMart title loan can be a quick and easy way to get money in an emergency. Using your qualifying car title, you may be eligible for a car title loan of up to $30,0001. Take advantage of LoanMart’s streamlined application process when you submit your information and you may receive your title loan money in as little as 24 hours3.
With LoanMart’s simple process, there are three ways to get in touch:
- Call us at 1-877-787-4923
- Sign up online from the comfort of your home
- Visit a LoanMart participating store
After you’ve determined the best way for you to reach us, all you’ll have to do is follow a few simple steps to submit your application:
- Register using the form
- Submit your documents to your LoanMart representative
- Sign your loan agreement1
If you find yourself in need of sudden financial assistance, help may be only a phone call away. Contact LoanMart to see how we may be able to help you get your budget back on track1.