Why Car Title Loans Might be a Good Option for Seniors

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Loans on a car title might be a good option for people who are facing a sudden and unexpected financial problem. Traditional lenders may deny credit to individuals because they might be on a lower or fixed income, but LoanMart works to serve those who cannot secure loans through traditional lenders. It’s also completely free to apply and we have many options to get in touch, including an online form, late-opening call center and physical location.

There are several reasons why people might want to consider getting a car title loan. If they experience a medical emergency that needs to be paid for immediately, they might not be able to cover the costs. Loans on a car title can get people the money they need fast.

People will also be able to retain possession of their car during the period of the loan, which is important for those who are active in their communities. However, we do want to make sure all our customers, including seniors, are financially able to repay the loan amount that they may need to borrow. We are a financially responsible company.

We determine how much a car is worth based on the market value. We will also want to see that our customers have the ability to repay the sum of money that they borrowed. It’s okay if a person is on a fixed income, but what he or she receives need to be enough that we can reasonably expect he or she can repay his or her loan.

While we don’t have a credit score requirement, we do run credit checks which are a small factor in determining who qualifies for an auto title loan. Again, we strive to work with people who are turned away by other lenders, so we may be able to offer loans to people with poor credit1.

Car title loans may be good options for consumers because they can get the money they need for an unexpected emergency or other financial problem quickly. They also keep their cars so they won’t lose their usual source of transportation.

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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California loans are made or arranged pursuant to a California Financing Law License. See State Disclosures for additional disclosures.

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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Loans for certain California residents, and residents of Delaware, District of Columbia, Florida, Illinois, Indiana, Kansas, Kentucky, Michigan, Mississippi, Oklahoma, Ohio, Oregon, South Dakota, Tennessee, Texas, and Washington residents are made by Capital Community Bank, a Utah chartered bank located in Provo, UT, Member FDIC. Loans made by Capital Community Bank will be governed by Utah law and serviced by LoanMart.

All loan applications are subject to meeting Capital Community Bank’s credit criteria, which include providing acceptable property as collateral. Consumers need to demonstrate ability to repay the loan.

To learn about vehicle secured loans made by Capital Community Bank or to submit an application, please click here or visit http://choicecash.com.