What Are Car Title Loans Used For?

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What Are Car Title Loans Used For?

LoanMart’s Car title loans are used for getting you the money you need quickly and efficiently for any financial situation1!

Car title loans from LoanMart can save you from all kinds of financial trouble ranging from house bills to medical expenses. We all know that financial emergencies can cause considerable unwanted stress and anxiety. That’s why at LoanMart we have made it possible to relieve yourself of outstanding financial burdens.

By applying to use your vehicle for a car title loan you can get the cash you need now and take the pressure off.

A car title loan allows you to borrow money based on the equity of your vehicle and by your ability to make regular monthly payments. A car title loan is fast and is an easy way to get cash using your car title instead of your credit score1. The size of your title loan depends on the amount of money you need, the vehicle’s value and repayment terms. Our focus is to get as much cash as possible while maintaining a manageable amount for payments. Online applications at LoanMart make the process faster and easier so that you can get cash as quickly as possible.

Why Consider a Title Loan with LoanMart?

One of the fastest ways to get a loan:

With LoanMart your car title loan application would be processed a lot faster than other types of loans.

Less paperwork means faster processing:

Moreover, you will have to wait in line for many hours before your documents can be looked at because there’s so much paperwork required by traditional lenders. LoanMart understands that an emergency means you need help now, not next week. We know that if you are pressed for funds you are probably not interested in waiting a long time for a reply. That’s why our loan process is quicker, with results that may be available in as little as a day3 to provide quick relief in times of the greatest need.

Trusted by tens of thousands of people since 2002!

Just because we are the largest car title loan lender in the West Coast does not mean you are a “number” to us. Each customer works one-on-one with a loan processor so you can get the personal experience you have come to expect for years!

Who Can Use Car Title Loans?

Car title loans are for anyone in need of quick cash1. Folks from all walks of life might get an auto title loan in just a few simple steps. The process is nothing like what you would find at banks, credit unions, pawn brokers or other establishments. These are venues where the application process might stretch over several weeks to even a few months. You probably know that most loans are based on credit history. But that is not the case with car title loans. Loans are incredibly important to many people in the United States for all sorts of reasons. So, are car title loans worth it?

From a logical and fiscal point of view, yes. Car title loans are worth the effort because there is very little hassle. At LoanMart, we are interested in your present and future, not the past. We believe we can help you get results that are the best for your unique situation.

How Much Can I Borrow from LoanMart?

The LoanMart title loan amount ranges significantly based on several factors including the equity value of your vehicle and the borrower’s capacity to repay the loan on time each month1.

This question is difficult to answer with just knowing about your car. We like to take into consideration other factors as well. We care more about your car than your credit and not all cars, even with the same, year, make and model, are simply not the same. To do that we need to see if your car has the standard package items or the special additions. You could also have made upgrades to your car. Knowing these things can raise the amount higher than the exact car without those items from someone else with the same car.

How LoanMart Title Loan Works

A car title loan is a monetary tool that allows customers to use their free or clear title for a qualifying vehicle as collateral to acquire a loan. The LoanMart title loan can be repaid in monthly installments. The good news is that if you pay your car title loan off early in its entirety, you will not be charged a prepayment penalty fee. When you receive the LoanMart title loan, we will place our name ‘on your qualifying vehicle’s title to swap for the loan. The borrower can still drive the vehicle at the same time making regular monthly payments. When the LoanMart title loan is repaid in full, we clear the lien on the car title and return the title to the owner.

So, What Do You Need To Apply?

We are determined to provide any assistance to our customers who are looking forward to applying. Whether you have a clear or free car title, you may be eligible for a LoanMart title loan. What matters is your ability to pay back the loan. The basic requirements include:

  • Have a qualifying vehicle with a clear or free title that is in your name
  • Paycheck stubs or bank account statements can be used to demonstrate your ability to pay back the loan.
  • Current mail such as a utility bill is needed to verify where you reside.
  • A valid Driver’s License issued by the government

How to Apply for the LoanMart Title Loan?

We determine the value of the vehicle’s equity and use it as collateral to apply towards the LoanMart title loan. We assess the ability of the borrowers to repay the loan in order to avoid the risks of default. For more information about pre-qualification and applications for LoanMart title loans, feel free to reach out to us:

  • You can apply for a loan through your computer, tablet or smart devices using a secure website. Our LoanMart title loan application forms are available online for free.
  • You can also request information from our LoanMart title loan agents over the phone within minutes.

Get started in just a few minutes by filling out our easy to use application.

Trusted lender of over 250,000 customers2

Trusted by over 250,000 customers since 2002, we know how to do business the right way. Our US based customer service team is there for you seven days a week.

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Applications submitted on this website may be originated by one of several lenders. All loans will be serviced by LoanMart. See State Disclosures for additional information.

1Loan approval is subject to meeting the lenders credit criteria, which may include providing acceptable property as collateral. Actual loan amount, term, and Annual Percentage Rate of the loan that a consumer qualifies for may vary by consumer. Loan proceeds are intended primarily for personal, family and household purposes. Minimum loan amounts vary by state. Consumers need to demonstrate ability to repay the loan.

2Based on consumers who received a loan from LoanMart from February 2002 to October 2018.

3Application processes could take five (5) minutes to complete. Upon completion, a conditional approval may be given pending review of documentation. Funding time is based on the time from final approval following receipt and review of all required documents and signing, prior to 2PM PST on a business day.

4To exercise the right to rescind, the consumer(s) must notify the lender in writing by midnight on the third calendar day from obtaining the loan. Within one business day from notice of rescission, the consumer(s) must return any monies received and fees paid on behalf of the consumer(s) by certified funds.

5Lenders recommend and encourage consumers to pay early and often and more in order to avoid additional finance charges.

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