Looking for an alternative financial resource that helps people get back on their feet? If you are stuck in a tough financial spot, one of the options you may have to rectify the situation is a title loan.1 If you look at the different loan options available, you will likely see how it’s challenging to qualify if you can’t meet the eligibility standards that lenders are looking for. Even if you have the necessary requirements for a loan, you may be surprised to see how expensive it can be to repay them, and the level of debt you can find yourself with.
Some of the potential loan types you can apply for include:
- Personal Loans
- Credit Card Advances
- Payday Loans
- Title Pawns
Another thing to note is how important your credit score is during the approval process for any loan. Lenders can deny you immediately if your credit does not meet a specific range, which can be detrimental for many people that need financial help.
Fortunately, you may not have that experience with title loans. You could easily get the money you need by just having the right collateral and income to support the loan.1 With title loans serviced by LoanMart, you can take advantage of a flexible approval process- even if you aren’t confident with where your credit is at.1 If you qualify, you could get your funds from a title loan serviced by LoanMart in as little as one business day!3
Will My Car Be Eligible for Title Loans in Lake Charles, Louisiana?
For car title loans, you do not need a specific type of make or model to qualify for cash.1 What determines your eligibility for title loans in Lake Charles is the available positive equity in your car and your income level.1 That means you can choose any vehicle for a title loan, as long as it has enough equity.1 To find out if your car has the proper amount to satisfy this requirement, you can find out the equity in the vehicle with LoanMart’s online calculator tool. You can find a loan estimate and obtain a quote free of obligation by inputting a few facts about your car.1
Calculate the total amount of equity in your vehicle by inputting these details:
- The Current Mileage on Your Car: The number of times you have used a vehicle is essential to its value. The higher the mileage is on a car, the less equity it could have. Lenders use this qualification to estimate life expectancy, which is critical to a car’s value because it determines how long it can last. Although you typically would need to have low mileage to obtain a high-value rate, your vehicle could still have enough equity to qualify for an auto title loan even if it has high mileage.1
- Any Modifications Done to Your Vehicle: Some modifications or alterations can make a vehicle look great, but they could be detrimental to its value in many instances. Modifications such as spoilers, alloy wheels, and paint jobs can hurt a car’s worth. However, not every alteration is negative, as some upgrades can increase its value! For example, suppose you decide to upgrade your engine or exhaust. In that case, your vehicle’s value can benefit from that!
- Any Surface Damage to Your Car: The vehicle’s current condition is something that borrowers have to be very attentive to when looking to get a certain loan amount. If you have maintained your car well enough, it could gain a high amount towards its value. To uphold your vehicle in a good range of value, it must be clear of any visible damages on the car’s interior/exterior surfaces or at least keep them to a minimum. Typically, these damages include paint scratches, dents, or even rust spots. Remember that the better the condition of your car, the more significant your loan amount could be.1
- The Year a Manufacturer Made Your Vehicle: The car’s age is another essential element in what contributes to a vehicle’s worth. Recent models tend to have more value than older cars, but that does not mean that older cars wouldn’t qualify for a title loan serviced by LoanMart.1 Typically, newer cars have lower mileage and are in high demand in the current market. However, an older vehicle that comes from a popular make, or if it’s categorized as a classic car, could have more equity than recent models! Suppose you have kept your vehicle in good condition. In that case, it could also have plenty of value, despite the year a manufacturer released it.
- The Make, Model, and Style of Your Car: Some makes or models hold more value than others and can slow a car’s depreciation. Cars with significant fuel economy can also boost their resale value. A car’s style, technology packages, and color are other components that can potentially add to its value. The vehicle’s style can come in the form of station wagons, sports cars, minivans, compact cars, convertibles, and other variations.
With this information inputted into the calculator tool, you can quickly determine if your car would be eligible for a title loan.3
How Can Auto Title Loans in Lake Charles, Louisiana Work to Get Me Fast Cash?
When you are looking for emergency money to assist you with any financial situation, a title loan might be the best resource to consider. You can allocate funds quite easily with car title loans in Lake Charles! Here are some of the basic requirements that should be initially met:
- Must Be 18 Years or Older
- The Ability to Repay an Entire Loan Amount
- The Title to a Qualifying Car in Your Name
It can be so simple to qualify for funding because title loans serve as collateral-based loans, meaning that you can secure your money with collateral.1 For a car title loan, the vehicle’s title is the collateral for the loan. Collateral can ensure that the borrower will be responsible for repaying their monthly installments to the very end. Income is a vital factor in determining your eligibility for a title loan since you must be able to afford to pay back what you owe. Loan agents from LoanMart can help find loan terms based on your car’s equity and your current income level.
You could get your cash in as little as 24 hours when you inquire about car title loans in Lakes Charles with LoanMart!3
How Much Money Can I Get with Car Title Loans in Lake Charles, Louisiana?
If you are like most borrowers, you want to have a significant loan amount to help cover expenses or other costs that have hurt your budget this month. Life happens, and you don’t always have a way to prepare for everything.
If you’re one of those that would like to have a large sum of cash, there are some things you can do to obtain it. With title loans, you can potentially get plenty of funds if you have the income to support that large amount and have enough equity to justify what a lender will give you.1
The regulations for the minimum and maximum quantity that a person can borrow can vary depending on your state. Contact a representative from LoanMart to determine the laws and stipulations when you inquire about auto title loans in Lake Charles, Louisiana. Remember to use the online calculator to find an estimate on the equity in your vehicle. That way, you could find out how much money you could get with online title loans serviced by LoanMart.1
Can I Keep My Car When I Apply for Title Loans in Lake Charles, Louisiana?
If your vehicle works as your primary source of transportation to work or school, then it’s understandable to be worried about what would happen to your car. Once you are approved for title loans in Lake Charles, your vehicle’s title will have a lien placed on it. This lien will remain on the title until the loan is paid in full. After that, the title is returned to you, lien-free.
It may sound like a nuisance, but a vehicle inspection is required by all title loan servicers to verify its condition and determine if it has enough equity for a title loan. But this requirement can be stress-free when you can do everything online!1 The problem with most loan options is that they make these inspections in person, which is incredibly inconvenient. With title loans serviced by LoanMart, you can complete the vehicle inspection online easily.
You would only need to take clear pictures of your car and directly submit them to a loan agent. The photos must consist of the vehicle:
- Four sides of the Car
- Odometer Reading
- Vehicle Identification Number (VIN #)
LoanMart is proud to work with the latest technological advances to make the loan experiences for every borrower the most convenient and flexible possible.1 You can send these pictures online or email them instantly to a loan agent by using your smartphone.
What Documents Do I Need to Have to Qualify for Online Title Loans in Lake Charles, Louisiana?
The title to your vehicle and income are not the only things lenders look for when deciding who is eligible for a loan. There are some documents that borrowers must submit to a loan agent when they start on their title loans in Lake Charles.
You can easily send all your documents through LoanMart’s online portal.1 With just a few clicks, you’re already near the end of the approval process.
- Car Title: Having a title in your name proves that you are the legal owner of your vehicle. If you have multiple names on it, you must act accordingly to the details written on your title. Contact a loan agent from LoanMart today at 855-277-4847 if you have lost or misplaced your title; they can help direct you to the right next step. This could include showing you how to request a transfer or replace the title with a new one. That can be done at your local OMV, or Office of Motor Vehicles.
- Photo Identification: To prove your identity to a loan agent, you must provide a government-issued photo ID. You can often use your passport or your driver’s license.
- Proof of Income: With LoanMart, you don’t need to have a 9-5 job to apply for financial help. LoanMart understands that there are a lot of different ways to earn a living. You can easily use a wide variety of alternative forms of income to prove your ability to meet your payments. Use different sources such as: pay stubs, Social Security/Supplemental Security Income, a letter of employment from your employer, retirement income, bank statements, pay stubs, etc.
- Proof of Address: You can prove your residency in Lake Charles with recent phone bills, lease agreements, credit card statements, etc.
- References: A loan agent may ask you to provide personal or professional references.
Where Can I Apply for Car Title Loans Online in Lake Charles, Louisiana?
Take advantage of a convenient online process when contacting LoanMart about title loans in Lake Charles.1 To get started on a title loan, follow these simple steps3:
- Inquire about a title loan online by submitting a quick form or calling a loan agent at 855-277-4847. Loan agents are available six days a week for extended hours to help you through the entire process.
- Submit your documents. You can send your documents online, fax them, or email them to a representative.
- Get your money!1 If you qualify for a car title loan, the last step is to sign your loan agreement and collect your cash through your method of choice.
It takes no time to begin on your title loan when you choose title loans serviced by LoanMart!3
Pay Back Title Loan Funds at Your Local MoneyGram in Lake Charles!
You can conveniently pay back your title loan funds at a MoneyGram location nearby. Below is a map of MoneyGram locations in your area.