Understanding What a Title Loan Serviced by LoanMart Is
A title loan serviced by LoanMart is a type of loan that has been designed to be even more flexible and convenient than other title loans. Due to this, nearly anyone could be approved1.
The approval process for a title loan serviced by LoanMart requires that a person use their vehicle’s title as collateral. For that reason, credit history is not heavily looked at during the approval process1.
Applying for a title loan serviced by LoanMart can be done over the phone or online through the website. The inquiry form will ask some personal questions about a person’s background, their vehicle, and their finances. The inquiry form could be submitted in as little as 5 minutes, and upon approval, a person could be funded within just 24 hours1.
Though even better than all of that is how a borrower is able to take out a title loan serviced by LoanMart and still keep driving their car as they make their timely monthly payments!
The Advantages of a Title Loan Serviced by LoanMart in Reidland
Although title loans serviced by LoanMart can be obtained quite easily, they also offer other advantages as well, like¹:
Lower Monthly Payments¹
Often, loans have monthly payments that can be quite high. This can make repaying a loan a bit difficult for some. But those who take out a title loan serviced by LoanMart don’t have to worry about large monthly payments. This is because title loans serviced by LoanMart have small monthly payments compared to many other loans¹.
Longer Loan Terms¹
Most title loans also have short loan terms, meaning that loans generally need to be paid back within about 30 days. Since title loans serviced by LoanMart are designed to help people, term lengths could extend for years – making repayment that much easier.
Zero Hidden Fees5
Hidden fees are often attached to loans but hidden in the fine print of the loan agreement. These fees can take the form of balloon payments or pre-payment penalties. While these fees will benefit loan companies, they can be a bit of an annoyance for the borrower.
That’s why title loans serviced by LoanMart have no hidden fees5! There’s only honesty and transparency throughout the loan process.
MoneyGram in Reidland, Kentucky Has Your Approved Loan Funds
After a person has been approved for a title loan serviced by LoanMart, they can then easily pick up their funds from their nearest MoneyGram location.