Many Americans lack a stocked emergency fund when times get tough. If a financial emergency has happened unexpectedly and you are in that majority of people in debt, you need fast cash to get yourself back on track.
A title loan can be the perfect solution to find the financial relief you need. Title loans in Ohio can be found online and inquired for from the comfort of your own home. Qualified borrowers through LoanMart can get their funds in as little as 24 hours.3 Take advantage of the opportunity to use your car’s equity to get the fast financial help you need.1
One of the ways a person can access their vehicle’s equity is through a car title loan. You may have heard of other equity-based loans, such as home equity loans; a line of credit on your home known as HELOC. With title loans in Ohio, a person is using their vehicle’s title instead of their credit history to obtain the financial help they need.
Using your vehicle’s title as collateral for the loan helps you turn your vehicle’s available equity into the cash!1 The use of collateral during the approval process for the loan could make it flexible and less of a hassle than traditional bank loans. When you are approved for a car title loan, your loan provider or lender will become the lienholder, which gives them legal access to your vehicle throughout the duration of the loan.
During the repayment process, your on-time payments will ensure that you keep your normal driving habits for work and errands. Once the loan has been repaid in full, your lender is removed as the lienholder, and your title becomes clear.
Unlike many traditional loan options, inquiring for a title loan in Ohio can be less of a hassle. To qualify for most title loans in Ohio, you will need:
If you are like most vehicle owners in Ohio, you may not know what your car’s current equity is. Auto title loans require a vehicle to have a certain amount of positive equity, which is the difference between the market value of the vehicle and what is currently owed on it. The more equity your vehicle has, the more there is to borrow from and turn into cash.1
While this may seem complicated, an easy way to find a free title loan quote and equity estimate is through the LoanMart title loan calculator tool online. Simply input a few bits of information about your car to receive an estimate!
If you’re facing a tough financial emergency, you don’t have time to waste. With title loans serviced by LoanMart, getting approved for a loan has never been easier!1
LoanMart is in the business of financial emergencies and has streamlined the process to inquire for a title loan. You can find out if your vehicle and income qualify for cash fast through the three-step approval process:
If you are qualified for a title loan serviced by LoanMart, you can pick up your cash in as little as one business day!3
Applying for title loans in Ohio should not be a complicated ordeal. Luckily, LoanMart has streamlined the title loan documentation process in Ohio to help those in a financial emergency get their cash fast, and efficiently!1
There will be a few documents needed to help a loan agent verify your information and speed the process along. You can expect to need these documents handy during the approval process:
These documents can be submitted online via email or fax for your convenience during the approval process.
Anyone that faces the challenge of a tough financial situation can attest that their credit history was not perfect during those times. If your credit history is less than ideal, it is tough to qualify for a personal loan to get back on your feet.
A title loan is a collateral based loan, however. A person that applies for a title loan is using their vehicle’s equity instead of their credit history to obtain cash! When applying for a title loan serviced by LoanMart, your credit may be looked at, but it will not be the focus of the approval process. Instead, these three factors will be analyzed by a loan agent to determine both your eligibility and your loan amount:
The more value your vehicle has and the greater your ability is to repay the loan, the larger your loan amount could be!1 While your financial situation may have hit your credit hard, it may not disqualify you from the cash you need.1 Title loans have flexible requirements and can cater towards borrowers with an imperfect credit history.1 If you possess a vehicle with equity and you have a steady income, it can be easier than you think to qualify for a car title loan in Ohio.1
There are many reasons why your vehicle’s title may not be in your name yet. Before you can apply for a car title loan in Ohio, however, the title must be in your name. If you are unable to locate your title or the vehicle title is not in your name, a LoanMart agent may still be able to help you!
An agent can walk you through the process of transferring your vehicle title into your name. To get started on the title transfer process, you will need to visit your local Ohio Bureau of Motor Vehicles, otherwise known as the BMV.
If you need transfer your vehicle’s title into your name, you will simply need to visit your local BMV and bring the following documents:
After your vehicle’s title has been transferred to your name, it can be used to apply for a car title loan in Ohio.
When you’ve been faced with a tough financial situation, your primary concern is obtaining the cash you need to fix it. But did you know that car title loans serviced by LoanMart in Ohio can offer more than just cash?
Take a look at some of the benefits of securing a car title loan serviced by LoanMart:
Financial emergencies can happen unexpectedly. There could be a job loss, or an unexpected bill that pops up to throw your budget off track. If you struggle financially and cannot afford your loan payment, there are steps you can take to get on the right track again.
LoanMart can work with you to keep your loan manageable, but some things are out of your control. Too many missed payments on a title loan will lead to the repossession of a vehicle in Ohio. To avoid defaulting on your loan and this scenario, reach out to your LoanMart agent and find out your options.
Refinancing your title loan could be an option if you communicate your hardship. To refinance your loan, simply contact a loan agent at 855-422-7412, or go online to being the process. It can be just as simple as applying for a car title loan in Ohio!1
Applying for a loan can be as easy as ordering online! A title loan serviced by LoanMart in Ohio can be the perfect way to get back on track where you need to be.1
Here at LoanMart, you don’t need to be the perfect borrower to get the financial help you need.1 Get started on your car title loan today by filling out a short form online that takes no time at all. Or give a loan agent a call at 855-422-7412 to have all your title loan questions answered! If approved, you could get your cash in as little as 24 hours.3
Should you gain the eligibility required for a title loan serviced by LoanMart, there are a wide variety of convenient ways that you can go and repay your loan. One of the most convenient options is to visit a participating money transfer location or a MongeyGram.
In order to provide even further assistance and convenience for customers based in Ohio, below is a map as well as list of a few MoneyGram locations in Ohio. However, there are several more MoneyGram locations throughout the entire state of Ohio.
If you have a vehicle title in your name and proof of income, you can apply for a car title loan serviced by LoanMart in the state of Ohio.1
Title loans in Ohio work by allowing you to use your car title as collateral for funding. Title lenders will primarily use your car’s value and your income to determine your loan amount. Because collateral is used to secure the loan, the approval process can be flexible.1
You will need to meet the following initial requirements to find out if you can qualify for a car title loan in Ohio:1 3
You can still qualify for title loans in Ohio with bad credit. Title lenders will mainly focus on your car’s value and your ability to repay the loan to determine your eligibility. But, your credit history is still a factor that is considered.1
If you apply for a title loan serviced by LoanMart in Ohio, you can take advantage of a quick and convenient approval process. Just submit a loan inquiry online or over the phone, upload some documents, and get your money if you qualify!1
The below table provides some of the key income, loan and financial statistics for Ohio which are intended to give you a better understanding of how your financial circumstances compare to other Ohio residents. With this information in hand, we hope you gain a better idea of your financial options so you can decide if completing a title loan application is the right decision for you:
|Average credit score (VantageScore®)||695|
|Average FICO® score||715|
|Average student loan debt||$34,721|
|Average credit card debt||$5,560|
|Average monthly car loan payment||$500|
|Share of households that rent||34%|
|Median gross rent||$870|
|Median value of owner-occupied housing units||$159,900|
|Median monthly owner costs - with a mortgage||$1,338|
|Median monthly owner costs||$504|
|Number of bank branches||2,890|
|Median household income||$61,938|
|Per capita income||$34,526|
|Average title loan amount||$3,112|
Learn now about title loan services and cash options in various states
All loans will be serviced by LoanMart. See State Disclosures for additional information. LoanMart is currently not lending in California and does not make loans or credit.
1Loan approval is subject to meeting the lender's credit criteria, which may include providing acceptable property as collateral. Actual loan amount, term, and Annual Percentage Rate of the loan that a consumer qualifies for may vary by consumer. Loan proceeds are intended primarily for personal, family and household purposes. Minimum loan amounts vary by state. Consumers need to demonstrate ability to repay the loan.
2Based on consumers who received a loan from LoanMart from February 2002 to October 2018.
3Application processes could take five (5) minutes to complete. Upon completion, a conditional approval may be given pending review of documentation. Funding time is based on the time from final approval following receipt and review of all required documents and signing, prior to 2PM PT on a business day.
4To exercise the right to rescind, the consumer(s) must notify the lender in writing by midnight on the third calendar day from obtaining the loan. Within one business day from notice of rescission, the consumer(s) must return any monies received and fees paid on behalf of the consumer(s) by certified funds.
5Lenders recommend and encourage consumers to pay early and often and more in order to avoid additional finance charges.
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To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver‘s license or other identifying documents.
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