Understanding a Title Loan

Title loans serviced by LoanMart are a unique type of loan that’s been specifically designed to help as many people as possible. Because of this, a title loan serviced by LoanMart is quite manageable for borrowers and can easily fit into anyone’s budget.

The way this loan works is by using a vehicle’s title as collateral. By using a vehicle’s title as collateral, a person’s credit will not be the sole determining factor for eligibility. Because of the flexible requirements, just about anyone could be approved—even if they have bad credit.1

And for those of you who are worried about what the repayment terms might be, rest assured as those are quite reasonable. Normally, the loan terms for a title loan only extend to a year. But with a title loan serviced by LoanMart, terms can last years.

The Benefits of a Title Loan

Although a title loan serviced by LoanMart could be obtained rather quickly and has exceptional loan terms, they also have additional benefits as well.1

Low Monthly Payments

The monthly payments on a traditional title loan can sometimes be rather high, which can make it hard for some people to pay off their loans. But with a title loan serviced by LoanMart, you won’t have to worry about exceedingly high monthly payments.

Faster Acquisition of Funds

When applying for a loan, the process can be rather long. However, if you opt to take out a title loan serviced by LoanMart, you could complete an inquiry in a matter of minutes.1 Plus, you could be approved and get funded the same day you apply!1

No Hidden Fees

Many times when a person takes out a loan, they are unaware of the added fees that the loan carries. Sometimes loans can have transaction fees, pre-payment penalties, or even origination fees. But when it comes to a title loan serviced by LoanMart, there are no hidden fees.5

Obtaining Your Funds at Your Local MoneyGram

After you have been approved for a title loan serviced by LoanMart, the next step will be to acquire your money. To obtain your funds, you can go to any MoneyGram location to do so. For those residing in Round Lake Beach, Illinois, there are 19 locations within a 10-mile radius.

To help locate your local MoneyGram, attached is a map, as well as a list of the nearest locations.