Residing in Kailua, Hawaii can be like living in a slice of paradise. However, those white powdery sands won’t ease your financial stress if a huge unexpected expense hits. When you’re living in a place in which the cost of living is a whopping 50% above the national average, any sort of an emergency can strain your budget.
That’s where a title loan could come in handy – providing a fast and straightforward way to quickly access the cash you need. What’s more, with the title to your automobile serving as collateral, those funds can often be had without good credit or a lengthy approval process.1 A title loan in Kailua, serviced by LoanMart, might be just the solution you need to get some extra cash fast.
What are Auto Title Loans?
An auto title loan enables you to use the equity in your car or truck as collateral for a short-term loan, provided you are 18 years of age or older. When borrowing against your car’s title with a loan serviced by LoanMart, the amount offered depends on the value of the automobile and your ability to make on-time payments.1 The automobile’s value is determined by its age, condition, mileage and how much it would sell for on the open market. How much you borrow is up to you, as long as it’s within your approved loan range. The maximum is usually no more than half of what the vehicle is worth – up to a maximum of $15,000.
How Do Car Title Loans Work in Kailua?
Completing a short online application gets the process started. Once the application is approved you’ll receive the funds and a lien will be placed against the title of your car until the loan is repaid. In the meantime, you can still use the vehicle just as you did before taking the loan, as long as your payments are current. When signing a title loan agreement, you’ll agree that if you default on the loan, the lender can take possession of the vehicle and sell it to recover the outstanding loan balance.
Is the Application Process for a Kailua Title Loan Complicated?
The process is both streamlined and convenient when you apply for a car collateral loan through LoanMart. All you need to do is:
- Complete the brief online form, or call 855-422-7412 to apply over the phone
- Submit the required documents (listed below)
- Review and sign the loan agreement once approved
What Documentation is Needed?
Keeping the paperwork to a minimum helps you get the cash you need – fast.3 Here’s what you’ll need to provide:
- Valid government-issued photo ID
- Proof of income (alternative sources like alimony, Worker’s Compensation or Social Security are also acceptable)
- Proof of Kailua residence (for example, a utility bill or current lease agreement)
- Recent, clear photos of the car’s interior, exterior and Vehicle Identification Number
- A clean title document for the automobile in your name
How Fast Can I Get The Money?
The application process can take as little as five minutes and approval sometimes happens within an hour.1 For eligible Kailua residents, the funds are often available within one business day – if not sooner.3
How Do I Receive and Repay the Funds?
There are a variety of ways to receive the loan proceeds and repay them – some of which don’t require banks to be involved at all.
Funds can be delivered via:
- Cash pickup at participating money transfer locations
- Wire transfer
- ACH deposit
- Check
Loan payments can be made via:
- Recurring payments (using debit cards or bank accounts)
- Telephone payments
- MoneyGrams
- Participating money transfer locations
Is Bad Credit a Problem?
Your credit score isn’t really an issue when you borrow against your car’s title through LoanMart. The value of the vehicle and your ability to make payments are the key factors. In fact, even applicants with bankruptcies on their credit records can often qualify too.1
What About Interest Rates?
Interest rates are the price of borrowing money shown as a percentage of the total loan balance. Title loan interest rates differ based on factors such as state regulations, the lender’s evaluation of your credit risk, the borrowed amount and the length of the repayment term. Borrowers who take out a car collateral loan serviced by LoanMart can expect competitive interest rates, particularly when compared to payday loans, which are typically more expensive.
What Happens if I Can’t Repay My Title Loan in Kailua?
Falling behind on payments will put you at risk of giving up the vehicle. It’s important to contact your lender or loan servicer immediately to work something out, if you believe you’ll miss an upcoming payment. Missing payments, or paying late without talking to your lender or servicer beforehand can also lead to fees and credit score damage.
Title loans serviced by LoanMart offer quick access to funds, flexible repayment options, and dedicated customer support. Whether you live in Kailua or another Hawaiian city such as Honolulu or Pearl City, a responsibly handled vehicle secured loan just might be the solution you need when the unexpected happens.
Apply today for a car title loan through LoanMart.
Addresses shown display closest MoneyGram locations. Map displays all MoneyGram locations in general vicinity.
Locations Near Kailua, Hawaii
LoanMart is proud to help people all over the United States, including Kailua, Hawaii and beyond! Look through the different LoanMart service areas and see which one is closest to your neighborhood:
