Let’s be honest. We know the type of reputation the title loan industry has, and it isn’t so sparkly and fantastic. LoanMart believes the best way to combat the bad reputation is to show you how different we are. LoanMart was built on customer-business relations, and that means taking the most common complaints that people have about car title loans, and doing something about it!
How to Avoid Car Title Loan Scams
Scam artists are constantly trying to obtain financial information from unsuspecting people. But luckily, there are plenty of red flags for you to be wary of. So if you are looking for a loan online, keep an eye out for these telltale signs of car title loan scams.
Down Payments or Processing Fees
If you find a car title loan option online that offers incredible deals, you may decide to inquire. If a title loan agent informs you that you need to make a down payment or pay a fee to complete the approval process, know that this is a major red flag. Legitimate car title loan options will not charge you a fee simply for inquiring.
Asking for Suspicious Details
The car title loan process involves your personal information. But if you inquire for a car title loan and an agent also asks for the information of your friends and family, know that that is a red flag. A legitimate car title loan agent does not need anyone else’s information aside from yours, unless you apply with a cosigner.
Inquire for a Car Title Loan and Avoid Scams
Car title loans offer eligible borrowers quick emergency money with affordable terms. If you want to avoid car title loan scams, all you have to do is perform online research to check the legitimacy of the car title loan business you intend to work with. Check out the website, read reviews, and call for more information.
Once you find a legitimate car title loan deal, you can inquire to start the process. The inquiry process will typically involve answering a few questions about your car, such as the:
- Vehicle Year
Using this information, a car title loan agent will determine the value of your car. If your car has enough value, you may be preapproved for funding and offered an estimate. This estimate is how much money you could possibly obtain with a car title loan once you are fully approved.
Car Title Loan Criticisms Debunked
Some consumers may have a negative view of Car Title Loans simply because they don’t understand how the process works. We’ll answer any questions or concerns you have before processing your application. Some common criticisms of Car Title Loans can be debunked with just a little bit of research.
- Do Car Title Loans have high interest rates and fees?
Actually, interest rates on Car Title Loans may be cheaper than traditional loans because the loan is set up to be paid off faster.
- Are Car Title Loans too risky?
Because a Car Title Loan utilizes a borrower’s automobile as collateral, there is always some risk involved. If you are unable to make your payments, we’ll work with you to help avoid the repossession of your automobile.
- Do Car Title Loans lead to more borrowing and debt?
Car Title Loans with LoanMart are fully amortized and are designed to be paid off in a relatively short amount of time. Before more debt is acquired, call LoanMart to help get the money you need.
Why do People Choose LoanMart?
LoanMart is a leader in non-traditional lending, and we have been since we started business back in 2002. When you get a LoanMart auto title loan, you can enjoy numerous benefits that are designed to make our auto title loan process work for you.
- Quality Service – Customers have said that our LoanMart title loan agents are “very professional,” and that they go “above and beyond,” what is expected in order to address every customer’s needs. This is because providing the best customer service is what we strive to do every day. LoanMart has representatives available 7 days a week with extended hours just so we can be there for you whenever you need us. If you try to get in touch with us late at night after business hours, you will be one of the very first people contacted the very next morning when we open up for business again.
- High Approval Rate – Many times people trying to get a loan are immediately rejected because they have a less than perfect credit score. But LoanMart won’t completely judge you based off of a number. Instead of focusing on your credit score, LoanMart will look at the other factors that determine your creditworthiness such as the equity value of your vehicle and your ability to repay your loan. LoanMart knows that you are more than your credit score, so we treat you like it!
- Convenient Terms – Being successful with your auto title loan means having a payment plan that benefits your lifestyle. LoanMart offers agreeable terms ranging from 12-48 months so your monthly installments don’t have to be a major strain on your budget. Paying back your LoanMart auto title loan doesn’t have to be a stressful event when your payments are manageable.
- No Secret Fees– Some companies have a slew of hidden fees that they try to charge you without letting you know. LoanMart doesn’t participate in poor business practices like that. Instead, we give you a FREE quote and will discuss some of the details of your title loan contract without charging you anything or putting on the hook for any obligations. LoanMart will thoroughly communicate with you so you are familiar with all of the aspects of your auto title loan contract.
What are People Saying About LoanMart?
LoanMart has been helping people across the United States get auto title loans for over a decade, and our customers have said what’s on their mind.
- “The experience was easy, informative, and good overall. I appreciate the constant communication, upfront information, and the ease with which I was able to receive this loan. I would highly recommend LoanMart’s agents and services.” – R. Mejia.
- “This loan played a huge part in saving me and my family from a disaster.” – Rigoberto H.
- “Thanks for being an outstanding example of what customer service is all about.” “Thank you for doing what you said you would do.” – Sheri H.
- “I was in a serious financial crunch and [LoanMart] made the difference in keeping my house.” – Huffman
- “Thanks for helping me in my family emergency.” – Diane W.
Car Title Loans With Great Customer Service : Allow Us to Help You Get Ahead
We place no restrictions on how to spend the loan funds, and a person does not need to have a bank account to obtain a loan from LoanMart. There are no prepayment penalties, and payments are amortized over the life of the loan so it is known right up front what the payments are.
Contact Us Today
Our representatives are here to answer any questions about Car Title Loans, and we’ll put to rest any concerns before starting the application process. Call us today at LoanMart and apply for the benefits of our Car Title Loans.