Life can change in an instant. One moment youâre on track financially, and the next an unexpected bill or urgent expense turns your budget upside down. This is particularly true in a town like Inglewood, where the cost of living exceeds the national average. Fast access to cash can be essential in emergencies when savings are short and credit options are scarce. Thatâs where an Inglewood title loan serviced by LoanMart may provide a convenient way to access the cash you need. Even better, the approval process is simple and doesnât impose the strict credit requirements of traditional bank loans.1
How Title Loans in Inglewood Work
A title loan is an installment loan secured by the title to a vehicle in your name. Upon approval of your application, youâll review and sign the loan agreement and mail in your vehicle title. The funds are handed over and a lien is placed on your carâs title. You keep the vehicle and continue to use it, as long as your payments are current. Once the loan is repaid in full, the lien is removed.
Who Uses Title Loans in Inglewood?
Typically, title loan borrowers who live in Inglewood or other California cities like Riverside, Stockton, or Fresno have had credit difficulties including challenges such as past bankruptcies or debt charge-offs. While these can inhibit access to traditional banking products, car title loans serviced by LoanMart focus on the value of your car, along with your ability to repay the loan.1
Will a Title Loan in Inglewood Affect My Credit?
Even though your income and the value of your vehicle carry more weight than your credit history, credit reports are review when you apply for an auto title loan serviced by LoanMart.1 This may cause a temporary credit score dip of a few points. On the other hand, your payment performance is also reported to a credit bureau. This means your on-time payments could help raise your credit score.
How Do Car Title Loans Differ from Other Loan Types in Inglewood?
Compared to traditional bank loans, it is easier to qualify for vehicle-secured loans serviced by LoanMart. Poor credit does not always stand in the way of getting a LoanMart-serviced car collateral loan.1 While bank loans generally have significantly lower interest rates, California car title loans tend to have faster processing and approval times. Additionally, title loans serviced by LoanMart carry competitive interest rates that are often lower than those of payday loans or other subprime lending options.Â
Another plus, you can use your car while youâre paying off your loan. Thatâs not always the case with auto pawn loans. Auto pawn borrowers are typically required to surrender their vehicles until they have repaid their loans.
Who is Eligible for a Title Loan in Inglewood?
In order to be eligible for an Inglewood title loan, you must be at least 18 years old and a California resident. You must also have a steady source of income, whether that is from regular employment or an alternative like Social Security, alimony, disability or a retirement fund. Additionally, the title to the vehicle youâre borrowing against must be in your name. The vehicle must also have enough value in it to support the loan. The value is determined by the automobileâs make, model, mileage, age and overall condition.
How Much Can I Borrow with a Title Loan in Inglewood?
You may be able to secure up to 50% of your vehicleâs equity, up to a maximum of $50,000 in California.1 You can borrow as little or as much of that as you want, as long as the amount is within your approved loan range.
What is the Process for Getting a Title Loan in Inglewood?
Applying for a car collateral loan serviced by LoanMart can take just five minutes.3 And, you can finish everything online from the comfort of your home.
What Documents are Required for a Title Loan in Inglewood?
The required documents for an Inglewood title loan serviced by LoanMart are kept to a minimum. The documentation you need includes:
- A valid government-issued ID (driverâs license or passport)
- Proof of your Inglewood address, such as a utility bill or a current lease agreement
- Proof of income, including pay stubs, recent bank statements or the like
- Clear phots of the vehicle (e.g., interior, exterior, VIN, etc.)
How do I Apply for a Vehicle Title Loan Serviced by LoanMart?
The application process is simple, all you need to do is:
- Complete the brief online application, or call 855-422-7412 to apply over the phone
- Upon approval, submit the documentation listed aboveÂ
- Review and sign the title loan agreement once approved, and mail in your vehicle title
How Fast Can I Get a Title Loan in Inglewood?
Approval for a collateral loan serviced by LoanMart can take less than an hour, and you could have your funds in hand in just one business day – sometimes even sooner.1, 3
How Can I Obtain My Loan Funds in Inglewood and How Do I Make Payments?
There are a variety of ways to get the loan proceeds, some of which do not require bank accounts. Those are:
- Cash pickups at authorized locationsÂ
- ACH direct bank deposits
- Wire transfers
- Checks
There are convenient options for repaying your vehicle title loan as well. These include:
- Telephone paymentsÂ
- Automatic payments via debit cards or bank account withdrawals
- MoneyGrams
- Cash payments at participating money transfer locationsÂ
Thousands of Californians have already benefitted from auto title loans serviced by LoanMart. If youâre in Inglewood and you know you can make the loan payments as agreed, a car title loan could provide fast access to the cash you need.
